Market Pulse
Broker tips: Grafton Group, Morgan Advanced Materials, Wood Group
Grafton Group issued a disappointing trading statement, but things should not be taken out of context, a top broker said on Thursday.
Numis upgrades Grafton, says company has unique drivers
Grafton Group issued a disappointing trading statement, but things should not be taken out of context, a top broker said on Thursday.
Investec revisits estimates for Morgan Advanced Materials
The deeper-than-expected global slowdown forced analysts at Investec to revisit their forecasts for Morgan Advanced Materials, but they reiterated their underlying upbeat view on the company’s prospects.
US weekly unemployment claims rise past forecasts
Unemployment in the US worsened by slightly more than expected last week, fresh government statistics showed.
London midday: Chinese data, profit warnings weigh on Footsie
News that Chinese banks remained unwilling to lend in October weighed on stock markets across Europe on Thursday, amid a spate of profit warnings in the UK and ahead of an eagerly awaited speech from the chair of the US Federal Reserve herself.
Pullman drags down profits at Wincanton
Profits were down at supply chain management group Wincanton on Thursday, despite sizeable growth in revenue for its contract logistics division.
Wood Group drops on Exane downgrade
Wood Group was under pressure after Exane BNP Paribas downgraded the stock to ‘neutral’ from ‘outperform’.
US pre-open: Futures edge lower ahead of raft of Fed speakers
US stock futures edged lower on Thursday, as investors awaited a report on jobless claims and looked forward to appearances by a number of Federal Reserve speakers.
Asia: Equities struggle for direction amid mixed Chinese data
Asian equity markets endured a mixed day on Thursday, as a batch of mixed economic data from China weighed on sentiment yet again.
Europe midday: Stocks push lower as Rolls-Royce tanks; euro slips on Draghi comments
European stocks fell on Thursday as earnings downgrades undermined sentiment, while the euro lost ground against the dollar after European Central Bank chief Mario Draghi hinted that further policy easing may be on the cards.
IAG launches two tranches of convertible bonds
British Airways and Iberia parent International Consolidated Airlines Group said it is launching an offer of two tranches of senior unsecured bonds convertible into ordinary IAG shares.
Co-operative Bank recovery gains traction in Q3
Co-operative Bank has made headway in Q3 2015, in its bid to regain the market’s confidence.
Chinese bank lending data for October leaves analysts divided
The latest data on credit and lending patterns in China released on Thursday showed the country’s banks remained unwilling to lend, leaving economists divided as to how effective the central bank’s monetary easing had been.
Anglo American announces management shake-up
Anglo American announced a series of management changes on Thursday as it looks to focus on the group’s marketing business.
Pearson shares sink on CEO comments
Shares in education publisher Pearson fell sharply on Thursday following comments by chief executive officer John Fallon the previous day.
IP Group portfolio company Xeros Technology raises GBP40m in placing
IP Group’s portfolio company Xeros Technology Group has raised around £40m via a share placing at 225p per share.
Centrica acquires Panoramic Power in £39m deal
British Gas owner Centrica it has completed the acquisition of US energy business services group Panoramic Power for $60m (£39. 5m).
Morrisons appoints Post Office boss Paula Vennells as non-exec director
Morrisons had appointed Post Office chief executive Paula Vennells as non-executive director with effect from the start of January next year.
IMI slumps as it says earnings will be at low end of market views
IMI slumped on Thursday after the engineering company said it expects adjusted earnings for the year to be towards the lower end of the range of current market estimates amid challenging market conditions.
Beazley gross written premiums up 6%
Beazley reported a 6% rise in gross written premiums in the first nine months of the year amid strength in its specialty lines.