Market Pulse
Fed's Mester says economy can handle rate hikes
US job growth will slow, but that is not an obstacle to stronger economic activity.
Sector movers: Miners see mixed fortunes as commodities turmoil continues
Mining and metal stocks saw mixed fortunes on Friday as selected sector blue chips and energy stocks continued to drag the London market lower.
FTSE 100 movers: Miners recover but G4S tumbles on RBC note
London’s FTSE 100 was down 1. 3% to 6,098. 40 at 1515 GMT as weaker-than-expected Eurozone GDP and US retail sales figures undermined sentiment.
Vedanta Resources hit by Moody's downgrade
Diversified mining company Vedanta Resources has been hit by a credit ratings downgrade from Moody’s.
Eurozone GDP misses forecast in third quarter
The Eurozone economy expanded less than expected in the third quarter with spending by households propping up activity as exports slowed and – surprisingly, according to Barclays – investment in Germany fell.
Bonds: DBRS confirms Portugal's investment grade credit
These were the movements in the most widely followed longer-term sovereign bond yields:.
Commodities: Oil hits fresh lows on IEA data but metals recover
Oil futures took another hammering on Friday, as the International Energy Agency warned that global crude stockpiles were currently at a record high of 3bn barrels.
Market overview: Stocks end lower for a third week in a row
1630:Close Stocks skidded lower into the weekend, as traders mulled over the increased likelihood of a US Fed hike in December amid lingering worries surrounding the situation in China. Weak GDP data out of the Eurozone fanned fears regarding overly weak investment in Germany. Market chatter to the effect that the euro area would be better served if it loosened its fiscal straitjacket was to be heard. Miners managed a bounce despite another drop in copper prices.
FX Roundup: Dollar takes centre stage again on Fed comments
The dollar took centre stage on Friday, as president of the US Federal Reserve Bank of Cleveland, Loreta Mester, said the country’s economy can handle an interest rate increase and the longer rates remain at zero the greater the risks to financial stability.
London close: FTSE ends lower for a third straight week
Investors pushed stocks lower following weaker than forecast numbers on growth from the Eurozone, with more hawkish comments out of the US Federal Reserve and lingering worries about China not helping matters.
Europe close: Equities decline after disappointing GDP data
European stocks ended the week on a downbeat note as data showed growth in the Eurozone unexpectedly slowed in the third quarter, and investors mulled the possibility of a US rate hike next month.
Empiric Student acquires Glasgow site
Real estate investment trust Empiric Student has completed the acquisition of a forward-funded development programme in Glasgow for £9. 6m.
JP Morgan cuts target on Rolls Royce amid host of concerns
Rolls Royce’s latest trading update created more uncertainty for investors in the opinion of JP Morgan and came on top of a host of concerns surrounding the outlook for the manufacturer.
StanChart boss stumps up £1m for shares
Standard Chartered’s new chief executive officer Bill Winters ploughed £1m into 168,000 shares in the bank at 599. 08p each.
Helical Bar completes sale of London property
Property developer Helical Bar has completed the sale of a property in East London to the Standard Life Investments Long Lease Fund.
Fitch downgrades Rolls Royce outlook to negative after profit warning
Fitch Ratings downgraded its outlook on aerospace and engineering firm Rolls-Royce to ‘negative’ from ‘stable’ following the company’s fourth profit warning in just over a year on Thursday.
FTSE 250 movers: Spire and IMI slump again; Auto Trader races ahead on results
London’s FTSE 250 index was down 0. 7% to 16,754. 00 as investors digested some disappointing Eurozone and US data in the form of GDP and retail sales.
Moody's downgrades steelmaker ArcelorMittal
The world's largest steel company ArcelorMittal has seen its credit ratings downgraded by Moody’s.
Uni Michigan index beats expectations in November
The University of Michigan's consumer sentiment index beat expectations in November, data released on Friday showed.
Nu-Oil and Gas plunges after placing
Exploration and production group Nu-Oil and Gas said it had successfully raised £435,000 via a discounted placing.