Market Pulse
German services sector hits fastest growth in over a year
Germany’s services sector expanded at its fastest pace in over a year in November, figures released on Monday showed.
WPP buys majority stake in Middle East marketer Cleartag
Media behemoth WPP’s global market communications agency, J. Walter Thompson has agreed to acquire a majority stake in Lebanon and UAE-based digital marketing consultancy Cleartag.
Ocado gets a boost from UBS upgrade to 'buy'
Ocado got a boost after UBS upgraded the stock to ‘buy’ from ‘neutral’ with an unchanged target price of 480p.
London open: Mining stocks drag FTSE lower
UK stocks opened in the red on Monday, dragged down by mining shares, as investors weighed European manufacturing data and awaited the release of economic reports in the US.
Just Retirement and Partnership Assurance to complete merger in January
The proposed merger of Just Retirement Group and Partnership Assurance Group will be completed in early January rather than in late December, the retirement products provider said.
Riverstone thirsty for more of CIOC
Opportunities in Western Canada’s Deep Basin pushed Riverstone Energy to launch an open offer to the tune of £65m on Monday morning.
Pfizer and Allergan to announce merger
Pfizer and Allergan agreed a deal worth over $150bn (£99. 3bn) to merge their two companies and create the world´s largest pharmaceuticals outfit, the Wall Street Journal reported.
Segro buys EUR92.7m Netherlands portfolio
Real estate investment trust Segro has acquired a portfolio of three, fully-let logistics buildings in the Netherlands totalling 104,000 square metres of space, for €92. 7m (£65m) from Dutch private developer Dok Vast.
Europe open: Resources and energy stocks lead equity markets lower
European stocks fell in early trade, with natural resources and energy under the cosh as metals and oil prices declined.
Big third quarter for renamed Bank of Georgia
A stellar quarter for the former Bank of Georgia, with the company reporting revenue growth more than a third as it unveiled its new identity on Monday morning.
AstraZeneca sells US rights to Entocort in $380m deal
AstraZeneca has sold the US rights to Crohn's disease medicine Entocort to Perrigo Company for $380m (£250. 8m).
Monday newspaper round-up: UK defence, Made.com, Rolls-Royce
David Cameron will today pump an extra £12bn into strengthening Britain’s defences against Isis and Russia, but the bill will be met by spending cuts elsewhere with police, welfare and business grants in the line of fire. Mr Cameron will set out a five-year defence review with a focus on tackling Isis, including a 30% increase in the counter-terrorism budget, £2bn on special forces and a new emphasis on cyber defences. - Financial Times.
London pre-open: Stocks seen lower after uninspiring Asian session
London stocks are expected to open lower on Monday following a fairly uninspiring session in Asia.