Market Pulse
Commodities: Oil price drops to seven-year low
Oil futures registered further declines with Brent slipping to a seven-year low on Friday, after the International Energy Agency (IEA) suggested a demand correction was likely next year.
Sector movers: Resource stocks end lower on oil market rout
Resource stocks ended lower on Friday, as oil futures tumbled to a seven-year low.
China signals it might unpeg the Yuan from US dollar
China may be laying the groundwork for untying the yuan from the value of the US dollar.
Europe close: Collapse in oil futures hits stocks
European stocks sold off on the last day of the week after China’s central bank hinted that it might move to loosen the link between its currency and the US dollar.
London close: Stocks decline on oil slump ahead of FOMC rate decision
London stocks were under pressure on Friday as Brent crude hit a seven-year low and investors looked forward to the Federal Reserve’s interest rate decision next week.
Week ahead: US Fed, French and Spanish elections in focus
The coming week will see a deluge of first-tier market data and risk events, but the Federal Reserve’s latest policy meeting will, probably, eclipse all the others.
FX Roundup: Market in mixed mode with no dominant crosses
No single currency emerged as the dominant cross in late afternoon European trading on Friday.
Garrett-Cox sells chunk of Alliance Trust shares for £1.5m
Katherine Garrett-Cox, who stepped down as chief executive of Alliance Trust in October, is cashing in some of her chips before Christmas.
EasyProperty to put IPO plans on back burner
Online estate agent easyProperty won’t be looking to list for at least the next two years or so as it has gained the backing of hedge fund Tosca, the company’s chief executive and largest shareholder said.
FTSE 250 movers: Oil prices weigh on market
With only two weeks to Christmas, the FTSE 250 wasn’t feeling very festive on Friday after it fell 159. 12 point (0. 93%) to 16,921. 13 by mid-afternoon.
US open: Stocks slide as Fed rate decision nears
US stocks declined as oil prices plunged and investors were wary ahead of an expected interest rate hike by the Federal Reserve next week.
Broker tips: Smiths Group, Sports Direct, Aldermore Group
Smiths Group on Friday was given a ratings upgrade by RBC Capital Markets to ‘sector perform’ from ‘underperform’ ahead of the engineer’s strategy statement.
University of Michigan consumer sentiment nudges up in December
The University of Michigan's consumer sentiment index rose to 91. 8 in December from 91. 3 in November.
US business inventories flat in October
Inventories at US businesses were flat in October following a 0. 1% rise the previous month, according the figures released by the US Commerce Department.
FTSE 100 movers: Political issues in South Africa hit Old Mutual again
The FTSE 100 has failed to regain any traction on the week, with the blue chip market down 21. 60 points (2. 00%) to 5,966. 45 by mid-afternoon Friday.
Goldman Sachs cuts target price on Sports Direct
Weakness in Europe led Goldman Sachs to lower its forecasts and price target for Sports Direct.
Alibaba to buy South China Morning Post
Online mobile commerce company Alibaba Group Holding has agreed to buy the South China Morning Post and other media assets of SCMP Group Limited for an undisclosed sum.
US retail sales rise more than expected in November
US consumers spent less in November than analysts had expected, especially on cars and petrol.
US producer prices edged higher in November
Factory gate prices Stateside moved higher in November as the prices for services bounced back after having fallen over the previous two months.