Market Pulse
Mexico's oil and gas licensing process will continue at pace, says official
Mexico will continue opening up further oil and gas exploration blocks at pace, including onshore and deepwater prospects, to international and private sector players, according to a senior official.
Thursday broker round-up
Tullow Oil: JP Morgan Cazenove upgrades to overweight, cuts target price to 310. 00p.
US close: More signs of dovishness from Fed
US shares rose late on Thursday, as investors saw more signs of dovishness from the Federal Reserve in its September meeting minutes.
Commodities: Oil futures continue upward momentum, metals head lower
Oil futures headed higher with Brent capping the $53-level on Thursday, as supply correction sentiment and rising tensions in the Middle East lent support to prices, while precious metals saw lacklustre trading in Europe yet again.
Market overview: Stocks gains after MPC stays put
1630:Close Stocks registered slight gains led by Fresnillo. According to analysts at HSBC, the precious metals miner has excellent growth assets, which should allow it to generate strong cash flows in the medium-term. Stock in Tesco also outperformed, on the back of positive comments out of UBS. As expected, the MPC chose to keep its main monetary policy settings unchanged. However, following the release of today’s minutes analysts at ABN Amro and BNP Paribas pushed back their forecasts for the first interest rate hike from the Bank of England.
Bill Gross sues PIMCO
Bond King Bill Gross has sued his former employer, Allianz-owned bond fund manager Pacific Investment Management Co.
Europe close: Stocks edge higher as ECB hints at extending QE
European stocks edged higher on Thursday as investors digested another set of disappointing German data, after minutes European Central Bank’s latest policy meeting revealed Brussels could extend its stimulus programme.
London close: Stocks rise after BoE and ECB meeting minutes
UK stocks gained after the Bank of England decided to keep interest rates unchanged and the European Central Bank suggested it might consider further stimulus.
Fifa suspends Sepp Blatter, Michel Platini and Jerome Valcke
Sepp Blatter, who has been president of football’s world governing body (Fifa) since 1998, has been provisionally suspended by FIFA’s Ethics Committee for 90 days.
Sector movers: Metal stocks drive markets up
Industrial metals helped to prop up London markets again on Thursday, after Jefferies commented optimistically on the metals and mining industry.
Friday preview: UK trade balance, US wholesale figures
UK trade data on Friday is expected to show the deficit narrowed in August.
FTSE 100 movers: Tesco moves back up the chain
After a slow start to the morning, the FTSE 100 was up 16. 74 points (0. 26%) to 6,353. 09 by mid-afternoon.
HSBC ups target on Fresnillo following site visit
Fresnillo has excellent assets and the medium-term outlook for free cash flow generation is strong, according to analysts.
Sports Direct plans multi-million investment in Heatons
Sports Direct International said it plans to make a multi-million investment in the Heatons store portfolio, after it announced on Wednesday that it has entered into a sale and purchase agreement to buy the remaining stake it doesn’t already own in the company.
Essentra names new finance director
Plastic and packaging products provider Essentra has confirmed the appointment of Stefan Schellinger as its finance director.
Key Rolls-Royce directors increase stake in company
Rolls-Royce shares have had a good run over the last fortnight, and now its directors are getting in on the action.
Xtract Resources slumps on mixed assay results from South African projects
Shares in Xtract Resources declined sharply on Thursday, after the gold and copper miner reported mixed assay results from two of its South African projects.
Firstgroup rallies on UBS upgrade
Shares in UK transport operator Firstgroup rallied after UBS raised its stance on the stock to ‘neutral’ from ‘sell’ following recent underperformance versus the market.
German prosecutors raid Volkswagen headquarters
German prosecutors have raided the headquarters of car maker Volkswagen and other sides on Thursday as part of an investigation into the company’s emissions scandal.
Benchmark Holdings confirms it's considering an acquisition
Benchmark Holdings confirmed that is considering a potential acquisition of INVE Aquaculture Holding BV, which would constitute a reverse takeover under AIM rules.