Market Pulse
Investec cautious about Poundland's longer-term growth
Broker Investec has initiated coverage on Poundland with a 'hold' recommendation and a 300p price target, saying it sees "better opportunities elsewhere with less risk".
StatPro third-quarter trading in line with expectations
Software developer and cloud-based portfolio analysis provider StatPro Group said revenue and profits for the nine months to end of September were in line with expectations.
African Potash appoints Elias Pungong as non-exec director
AIM-listed exploration company African Potash has appointed Ernst & Young veteran Elias Pungong to the board as a non-executive director.
Asia: Equities struggle for direction after Chinese data
Asian stocks began the week on a mixed note, as data released on Monday showed the Chinese economy expanded at its slowest pace in six years.
DekelOil launches pilot production test at Ivory Coast project
Palm oil developer DekelOil Public has begun a pilot production test at its Ivory Coast project, which is expected to boost sales and profitability once fully operational.
ITV to buy UTV's television business for GBP100m
ITV has agreed to acquire Northern Irish broadcaster UTV Media’s television assets for £100m.
3i appoints Peter Grosch as non-exec director
3i Group has appointed Peter Grosch as a non-executive director with effect from 1 November.
Berenberg downgrades AB Foods on lack of short-term catalysts
Berenberg downgraded Associated British Foods to ‘hold’ from buy’, keeping the target price at 3,450p.
Galileo Resources extends US holdings for another year
Galileo Resources has renewed most of its wholly owned Nevada claims for another year.
Too early to talk of QE extension, ECB's Nowotny says
A top euro area official appeared to backtrack from remarks made only last week which had raised expectations in some corners that the European Central Bank might be closer to announcing further stimulus measures when it meets on 22 October.
Oxford Instruments slumps on Goldman downgrade
Shares in Oxford Instruments fell sharply after Goldman Sachs downgraded the stock to ‘neutral’ from ‘buy’, noting it's trading close to the bank's unchanged 700p price target.
Macquarie upgrades Vodafone as Europe turns a corner
Macquarie upgraded Vodafone to ‘outperform’ from ‘neutral’ and reiterated its 235p price target, saying the company was turning a corner.
Eurozone construction output declines in August
Construction output in the Eurozone suffered a sharp slowdown in August, figures released on Monday showed.
LGO Energy cash runs dry after drilling misshap
After a costly drilling accident, oil explorer LGO Energy has been prevented from accessing more cash from its bank facility as it has breached its covenants.
Baron Oil plunges after revealing cost of exiting Colombia project
Shares in Baron Oil plunged 12% early on Monday as the oil explorer said exiting the Nancy Burdine Maxine field will cost approximately $1m.
London open: Investors focus on positives from Chinese data
Stocks moved higher at the start of trading as investors chose to focus on the positives from the raft of Chinese macroeconomic data published before the start of trading.
Telit to supply smart metering infrastructure project
Telit Communications has signed a deal worth $220m to supply the UK’s Smart Metering infrastructure project.
Wynnstay buys farm supplies unit, says trading in line
Agricultural and retail group Wynnstay has reached an agreement with TG Jeary on terms for the acquisition of its West Country farm supplies operation, Agricentre business and certain related assets for an undisclosed sum.
Chinese GDP growth holds up in third quarter
Service sector growth appeared to limit the extent to which China's economy cooled off in the third quarter, the latest round of government data revealed.
House prices edge higher in October, Rightmove says
Asking prices for houses in England and Wales registered their slowest rise for the month of October since 2010, data released on Monday showed.