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UK manufacturers confidence remains brittle EEF/BDO survey finds
Stronger growth for the UK manufacturing industry may not arrive until the end of the year, according to a survey from industry organisation EEF and BDO.
FTSE 250 movers: Miners rally as gold price rises after disappointing non-farm payrolls
London’s FTSE 250 index was in the green, rising 1. 14% to 18,052. 91p in afternoon trade on Friday, as miners rallied on an increase in metal prices after the US non-farm payrolls report missed expectations.
Friday newspaper share tips: Vertu Motors, Premier Oil
Investors overreacted after the referendum vote, selling down shares of Vertu Motors over fears that Britons would be too afraid to continue splashing out on big-ticket items like cars, The Times´s Tempus said.
Sector movers: Interest rate-sensitive issues pace gains
The safest and highest dividend-paying stocks paced gains on the market at the end of the week, as a weaker-than-expected US jobs report for August reaffirmed some economists´ view that the US central bank was unlikely to hike interest rates come September.
US jobs report for August: Analysts react
A rate increase in the Fed funds rate come December was still likely but August´s non-farm payrolls report would not convince officials at the US central bank to make a move in September. The rate of growth in average hourly earnings slipped to a six-month low, average weekly hours plumbed a two-and-a-half year low and a 3,100 decline in temporary hiring "wasn´t exactly positive either". Nonetheless, the August report had long history of missing expectations only to afterwards be revised higher.
US trade deficit shrinks significantly in July
America´s trade shortfall with the rest of the world shrank rapidly in August as commodity exports increased sharply, pointing to a potentially sizeable contribution from net trade to economic growth in the third quarter, although both exports and imports had declined year-to-date.
Directors dealings: Melrose director picks up shares in buy-out specialist
Melrose Industries´s non-executive director David Lis picked up a large chunk of shares in the London-listed buy-out specialist, the company said in a statement.
Europe close: Stocks jump after US jobs data for August
European stocks finished the week with sharp gains as investors took the latest US jobs data to mean that an interest rate hike by the US central bank, in September, was now off the table, although not all economists agreed.
Austria softens rhetoric against trade deal with Canada
Austria softened its opposition to a free trade deal between the European Union and Canada on Friday, according to a report by Reuters.
Week ahead: All eyes on Carney, central bank rate decisions
All eyes will be on Governor Carney´s testimony before the Treasury Select Committee, alongside Monetary Policy Committee members Jon Cunliffe, Ian McCafferty and Kristin Forbes, as investors attempt to glean what their take is on the economic data published in the UK since the referendum vote and any new insights they might have on the possible scenarios for the economy going forward.
Three pension funds plan to block Sports Direct chairman re-election
Three pension funds are the latest in a round of shareholders who have said they plan to support a trade-union backed motion to call for an independent review of workplace practices at Sports Direct and block the re-election of its chairman.
US factory orders rise in July
US factory orders rose in July following two consecutive monthly decreases, increasing by 1. 9% month-on-month (consensus: 1. 9%) to reach $454. 8bn, according to the US Department of Commerce.
China to open antitrust inquiry into Didi-Uber deal
Didi Chuxing and Uber's $35bn merger is set to be investigated by Chinese antitrust regulators over whether the deal complies with competition legislation in the country.
London close: Stocks rise after US non-farm payrolls miss forecasts
London stocks jumped at the close on Friday after a weaker-than-forecast US non-farm payrolls report was seen to scupper chances of a September interest rate hike by the Federal Reserve.
Small cap news round-up
Creator and publisher of mobile real money and social games, Gaming Realms, announced on Friday that is has signed a marketing partnership deal with Bauer Media UK.
Specialist Investment Properties agrees to buy Merseyside complex
Specialist Investment Properties announced a new acquisition on Friday - its seventh since implementing its new investment policy in early 2016.
Walmart cuts 7,000 office jobs
US retail chain Walmart is to cut 7,000 office jobs as it moves to automate more of its processes, although workers are expected to be offered other customer-based roles.
Toumaz teams with Harman for new Google Cast speaker
Digital radio and smart audio technology company Toumaz announced on Friday that its consumer audio business, Frontier Silicon, has been chosen by Harman International Industries, to power its new Google Cast-enabled wireless home speaker, the JBL Playlist.