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US close: Markets rise despite bank sell-off as rate-cut hopes increase
US stocks finished higher with the Dow topping the 40,000 mark for the first time in nearly two months despite a gloomy start to bank earnings season, as expectations of an interest-rate cut in September continued to climb.
London close: UK stocks, sterling extend gains
London stocks were in the black again with sentiment boosted by US rate cut hopes.
Europe close: Stocks rise after US producer price data, French names lead
European shares were higher on Friday, with sentiment buoyed by inflation data that economists said presaged a further slowdown in price pressures, thus raising hopes of a rate cut in September.
Sector movers: Real Estate, Homebuilders still being sought out
Real estate names and homebuilders paced gains at the end of the week amid ongoing optimism around Labour having come out on top in the elections.
Broker tips: Hays, Softcat, Vodafone, BHP
RBC Capital Markets cut its price target on Hays on Friday after the recruiter said a day earlier that full-year profit was set to be around the bottom end of the market consensus range of £106m to £113m as it posted a drop in fourth-quarter net fees.
Week ahead: BoE, ECB in focus
The coming week will bring with it potentially key readings for inflation and employment that some economists believe may decide whether or not the Bank of England cuts interest rates in August.
Director dealings: Cobra Resources director ups stake
Cobra Resources revealed on Friday that director David Clarke had acquired 1. 40m ordinary shares in the London-listed exploration company.
BHP and Vale ink deal on UK group action for 2015 Brazil dam breach
Iron ore miner Vale has agreed to pay half of any awards to claimants as part of the UK group action against BHP for the 2015 failure of the Fundao dam in Brazil.
FTSE 100 movers: Smurfit Westrock up on JPM note; water firms give back gains
London’s FTSE 100 was up 0. 3% at 8,250. 61 in afternoon trade on Friday.
US inflation expectations ease a tad in July, University of Michigan says
Consumer sentiment in the US remained little changed in July, although expectations for price gains did ease a tad, the results of a closely followed survey showed.
US open: Stocks trade higher following bank earnings
Wall Street stocks were in the green early on Thursday as investors digested more key inflation data and a number of earnings from major US banks.
Lufthansa issues profits warning as Q2 earnings fall
Deutsche Lufthansa on Friday slashed annual earnings estimates for a second time and also issued a profit warning as it struggled with higher costs and lower business demand.
Unilever to cut third of office roles in Europe - report
Unilever is reportedly planning to cut a third of all office roles in Europe by the end of next year, as the company’s new chief executive forges ahead with his plan to boost growth at the struggling consumer goods giant.
US PPI comes in hotter than expected in June
The US producer price index advanced 0. 2% in June, according to the Bureau of Labor Statistics, slightly more than the 0. 1% increase expected on the Street.
Citigroup posts higher Q2 revenues and profit, lifts dividend
Citigroup posted higher quarterly revenues and profit, alongside an increased dividend.
Wells Fargo shares down in pre-market as Q2 net interest income falls
Banking giant Wells Fargo revealed on Friday that Q2 net interest income was almost down double-digits year-on-year.
JP Morgan reports big jump in Q2 revenues and profit, but cautions on tail risks
JP Morgan posted big increases on both its top and bottom lines, even as its boss continued to call attention to the potential risks on the horizon.
US pre-open: Stocks little changed as traders await bank earnings
Wall Street futures were little changed ahead of the bell on Thursday ahead of more key inflation data and a number of earnings from major US banks.
Months of AT&T call records exposed in data breach
American telecoms giant AT&T revealed on Friday that the call and text logs of its customers were hacked between May and October 2022, and said that at least one person has been arrested.