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US close: Corporate earnings, M&A help to prop up shares
Stocks finished on a mixed note, with generally upbeat corporate earnings and an unusual late-week flurry of M&A news helping the main market averages to recover from an initial drop at the start of trading.
Sunday newspaper round-up: GDP, RBS, Anglo, William Hill, bank exit
In the first official reading on how the whole UK economy has performed since the Brexit vote, the Office for National Statistics (ONS) is expected to say growth more than halved from 0. 7% in the second quarter to 0. 3% between July and September. According to economists polled by Reuters, it would be the slowest rate of growth since the third quarter of 2015, but though it would rule out the prospect of a technical recession in the second half of the year and beat the latest forecasts from Bank of England, the Observer reported.
Sunday share tips: IAG, Revolution Bars
Sell IAG, said the Sunday Times' Inside the City column, ahead of the airline's important third-quarter trading update on Friday. The holding company for British Airways and Spain's Iberia is being priced for a bumpy landing, with the shares slipping by a third when Brexit result was followed by a profit warning. They have since flapped around 400p, well off their 617p high last year as investors brace themselves for the effect of the pound's weakness, which is forecast to lead to a dip in Brits flying abroad when skiing and beach holidays could be around 15% more expensive.