Market Pulse
Saudi Arabia's riyal under pressure after austerity budget revealed
Saudi Arabia may be forced to devalue its currency after announcing a harsh austerity budget with spending cuts, privatisations, and hikes in taxes and prices of fuel, gas feedstock and electricity, which combined to add further pressure on global crude oil prices.
Ryanair claims part in Irish tourism growth after air tax repeal
Budget airline Ryanair said it delivered 70% of all traffic growth at Cork, Dublin, Knock and Shannon airports this year, which saw record growth for Irish tourism.
UK house prices rise in November as buy-to-let investors flood market
UK first-time home buyers face fierce competition from buy-to-let investors over coming months, according to a report on Tuesday.
WANdisco confirms 1m-dollar big data contract brace
WANdisco has confirmed that two recent contract wins were its largest ever deals for its Fusion 'big data' software product, worth a combined value of "well over $1m".
Asian shares end in the black amid thin volumes
Asian shares reversed early losses to end higher as oil prices stabilised following sharp falls overnight.
Amazon to accelerate UK grocery plans
Amazon has revealed it plans to ramp up its UK grocery offering in the new year, adding a significant new disruptive pressure into the already aggressively competitive supermarket industry.
Avocet Mining relief at arbitration result
An arbitration hearing has found in favour of Avocet Mining in almost all respects against J&Partners, the company that bought its South East Asian assets in 2011.
Deutsche Bank agrees to sell stake in China lender
Deutsche Bank shares rose after the German lender said it has agreed to sell its 19. 99% stake in Hua Xia Bank to PICC Property and Casualty Company for up to 25. 7bn yuan (£2. 7bn).
Europe open: Stocks rise in holiday-thinned trade
European stocks rose in early trade, supported by modest gains in Asia.
London open: UK market reopens in positive territory after Christmas
The FTSE gained on Tuesday as the UK market reopened for trading after the Christmas break.
88 Energy issues positive update on Icewine 1 Alaska well
Exploration group 88 Energy said on Tuesday that its Icewine 1 well in Alaska was drilled to its target depth, meeting all primary unconventional drilling objectives.
ZincOx to hand over 90% of business after fundraising fail
ZincOx will have to hand over 90% of its main operational business to its creditors after failing to coax investors into raising crucial funds.
London pre-open: Stocks seen a little higher amid holiday-thinned volumes
London stocks are expected to open 14 points higher at 6269, with little due in the way of market-moving news and many traders still away from their desks for the Christmas holiday.
Tuesday newspaper round-up: Cairn Energy, Intel, British manufacturing
The chief executive of Cairn Energy has written to India’s prime minister seeking a resolution to a bitter $1. 6 billion tax dispute. Simon Thomson has told Narendra Modi that the dispute between Cairn and the Indian government has been dragging on for two years, forcing the company to sell assets, delay investment and slash its workforce by 40 per cent. – The Times.