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Grocers and miners lead gains
Miners and grocers led gains on the market as the selling pressure on two of the past week's worst performers eased a bit.
Market overview: Retailers, banks pace gains
1630:Close Retailers were near the top of the leaderboard on Friday, with markets apparently keying off of Tesco’s latest annual report. The sector was also the best performer at the pan-European level, with the DJ Stoxx 600 sector gauge rising by 1. 10% to 307. 06. Banks also did well, even in the face of warnings from IMF managing director Christine Lagarde regarding the risks that Brexit might entail for the economy. Coincidentally, IG’s Brexit binary was only attaching a 29% probability to such a scenario.
Directors dealings: National Express boss unloads shares
National Express’s boss offloaded a large amount of shares at the end of the week as a result of two transactions.
Europe close: Stocks boosted by strong US data, weak euro
European stocks rallied into the close on the back of a stronger than expected read on US retail sales and consumer confidence for the month of April and a weaker euro.
Small caps news round-up
Brazil-focused mining and development company Serabi Gold reported on a quarter of growth on Friday, with revenue up to $11. 7m in the three months to 31 March, from $7. 5m a year earlier. The AIM-traded company also reported an increased cost of sales, at $6. 7m against $4. 9m, and increased depreciation and amortisation charges, at $1. 2m against $1. 1m.
London midday: Brexit concerns drag stocks lower
London stocks were under pressure on Friday after the International Monetary Fund warned a vote by the UK to leave the European Union would have a detrimental impact on the economy.
US open: Wall Street mixed despite strong economic reports
US stocks were trading mixed as oil prices fell and on the heels of ‘hawkish’ rhetoric from some Fed officials overnight, apparently brushing off better-than-expected readings on retail sales and consumer confidence.
US pre-open: Stock futures fall as oil prices edge lower
US stocks are expected to open lower on Friday as oil prices fall and investors awaited data on retail sales.
Fox Marble raises £2m in placing
Kosovo-focused marble quarrying company Fox Marble announced the conditional raising of £2m before expenses on Friday, through a firm placing of new ordinary shares at 10p per share and a conditional placing of new ordinary shares, also at 10p per share, subject to shareholder approval.
Andes Energia trading in line ahead of full-year results
Andes Energia produced 3,532 barrels of oil equivalent per day in April, it reported on Friday, broadly in line with March and February production at 3,567 and 3,538 barrels respectively.
London close: FTSE ends higher after upbeat US data
The FTSE 100 finished the week on a high note after positive US data, including a better-than-expected report on retail sales.
Dillistone division Voyager secures new partnership
Executive recruitment software supplier Dillistone announced a major new partnership on Friday, with its Voyager Software division teaming up with an unnamed top-ten UK recruitment company.
Aureus Mining keeping an eye on working capital
West Africa gold producer Aureus Mining reported on a quarter in which it began effective commercial production on Friday, with some positive numbers - though working capital continued to be an issue.
Chi-Med launches fruquintinib trial in China
Hutchison China MediTech announced on Friday that it has completed patient enrolment of FRESCO, its Phase III trial of fruquintinib in third-line locally advanced or metastatic colorectal cancer in China.
US business inventories grow more quickly than expected in April
Inventories held by US businesses grew by 0. 4% month-on-month in March to reach $1. 82trn, according to the US Department of Commerce.
US consumer sentiment rebounds strongly in April, some economists cautious
Consumer’s mood picked up noticeably in April, the results of a widely-followed survey revealed, so much so in fact that some economists recommended taking the figures with a pinch of salt.
Serabi Gold reports on vastly improved quarter
Brazil-focused mining and development company Serabi Gold reported on a quarter of growth on Friday, with revenue up to $11. 7m in the three months to 31 March, from $7. 5m a year earlier.
Clive Boothman replaces Keith Niven as Mobeus chairman
Mobeus Income & Growth announced on Friday that its chairman Keith Niven was to step down and retire from the board with immediate effect, on health grounds.
FTSE 250 movers: TalkTalk slumps while Vedanta Resources rebounds
The FTSE 250 fell 0. 40% to 16,593. 06 in afternoon trade on Friday.