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Europe close: Stocks end mixed, but oil majors' shares sought out
European shares opened higher on Monday driven by energy stocks, but gave back early gains, in part following data showing that Germany's trade balance fell into a surprise deficit in May.
Sector movers: Big Oil sought out as JP Morgan warns of worst-case Russian oil output cut
Big Oil helped drive a bounce on the FTSE 350 at the start of the week after analysts at JP Morgan sounded a wary note on plans now under consideration in the West to impose a price cap on exports of Russian oil.
London close: FTSE gains as energy shares rally
London stocks closed firmly in the black on Monday, helped along by strength in the heavily-weighted energy sector.
Bundesbank chief warns against using ECB's tools to contain wider spreads
The head of Germany's central bank urged caution on using policy tools to limit the borrowing costs of weaker economies within the single-currency bloc.
AO World confirms one credit issuer has cut suppliers' cover
AO World confirmed on Monday that one of the third-party credit insurers serving some of its suppliers "rebased" its cover with respect to the online electricals retailer in May, to reflect post-Covid sales levels, but insisted this would have no effect on its liquidity position.
Tuesday preview: UK and euro area services PMIs, RBA rate decision
All eyes on Tuesday will be on the release of services sector Purchasing Managers' Indices in the UK and euro area covering the month of June.
Broker tips: Pets At Home, Sainsbury's, Dunelm
Pets at Home shares tumbled on Monday as RBC Capital Markets downgraded the shares to 'underperform' from 'sector perform' and slashed the price target to 280p from 330p, partly on valuation grounds.
Director dealings: Inspecs CEO raises stake
Inspecs Group revealed on Monday that chief executive officer Robin Totterman had acquired 40,485 ordinary shares in the AIM-listed eyewear designer and manufacturer.
FTSE 250 movers: Pets at Home slumps on downgrade
The FTSE 250 was down 0. 08% at 18,622. 60 at 1450.
FTSE 100 movers: Energy firms gush higher; Auto Trader lifted by upgrade
London's FTSE was up 1. 1% at 7,249. 41 in afternoon trade on Monday.
Deal to buy UK Power Networks collapses after owner hikes price - report
A £15bn takeover deal to buy UK Power Networks, Britain’s largest electricity distributor, has reportedly collapsed after surging inflation sparked a last-minute price rise by its Hong Kong owner.
Regional focus sees sales rebound at Pret A Manger
Pret A Manger said on Monday it had returned to profitability after the café chain refocused on stores outside of London.
Mobile Streams signs ‘major’ NFT contract with Mexican football club
AIM-listed Mobile Streams said on Monday that it has signed a "major" five-year contract to be the exclusive global producer and provider of non-fungible tokens for Pumas football club, one of the ‘big 4’ football clubs in Mexico.
JP Morgan stays at 'underweight' on Sainsbury's
Analysts at JP Morgan Cazenove reiterated their 'underweight' rating on supermarket giant Sainsbury's on Monday and said there were still "several reasons to remain cautious" of the stock.
Eurozone facing recession as investor morale plummets
Recession in the Eurozone is now "inevitable", a closely-watched survey suggested on Monday, after war in Ukraine and the growing energy crisis caused investor morale to slump.
Europe midday: Shares extend gains despite surprise German trade deficit
European shares opened higher on Monday driven by energy stocks, despite data showing German exports fell last month, , pushing the country’s trade balance into a surprise deficit.
London midday: Energy shares pace the gains
London stocks were still firmly in the black by midday on Monday, helped along by strength in the energy sector.
German trade balance pushed into deficit as exports fall
German exports fell last month, official data showed on Monday, pushing the country’s trade balance into a surprise deficit.
Europe open: Energy stocks boost shares
European sharesc opened higher on Monday driven by energy stocks, with investors eyeing eurozone inflation data.
Wizz Air June passenger numbers soar
Low-cost carrier Wizz Air almost trebled passenger numbers last month as more people resumed travelling as Covid restrictions eased.