Market Pulse
Star fund manager Woodford calls for break-up of GlaxoSmithKline
Influential investor and founder of Woodford Investment Management Neil Woodford reckons GlaxoSmithKline should be split up.
Third quarter results force Exane to cut Poundland to neutral
Disastrous trading conditions in November that continued through the third quarter have forced Exane BNP Paribas to cut the Poundland's rating from ‘outperform’ to ‘neutral’, and dropping its target price 26% to 200p.
REACT Energy secures new loan, technology agreements
REACT Energy was looking to continue its biomass development in the UK this week, with new agreements around a development loan facility and technology procurement.
Broker tips: Spire Healthcare, RSA, European equtities
Investec recommended a ‘sell’ rating on Spire Healthcare and put its target price under review on Friday after the company reiterated its full year guidance.
European Commission approves TNT Express, FedEx merger
In a joint statement on Friday, TNT Express and FedEx said they have been given unconditional approval from the European Commission for their proposed merger after it concluded that it does not raise competition concerns.
SocGen reiterates positive stance on European equities
Societe Generale reiterated its positive stance on European equities for 2016 as it pointed out that fears over China are not new.
Nomura switches preference from Direct Line to RSA Insurance
Nomura downgraded Direct Line to ‘neutral’ from ‘buy’ while retaining its 400p price target, switching its preference in UK non-life to RSA Insurance, which it raised to ‘buy’ from ‘neutral’ with an unchanged price target of 495p.
Investec 'cautious' on Spire Healthcare, issues 'sell' rating
Investec recommended a ‘sell’ rating on Spire Healthcare and put its target price under review on Friday after the company reiterated its full year guidance.
UK trade balance improved in November but economists downbeat
A lower bill for oil imports helped to reign in the UK’s trade deficit in November, but strength in sterling, especially against the euro, continued to weigh on exports amid already weak global demand.
Wily shoppers outfox retailers in December, BDO says
A cocktail of negative factors and wily shoppers left a hole in High Street retailers’ pockets last Christmas, a widely-followed survey of retail trends revealed.
Apple to ditch standard headphone jack in next iPhone, report says
A report that Apple’s next iPhone will ditch the standard 3. 5mm headphone jack in favour of using its Lightning cable port is angering a number of users.
European stocks only undergoing a technical correction, BofA Merrill says
In 2016, European stocks got off to one of their worst starts to a year in history but the economy was still improving and valuations were “decent” so the structural up-trend continued to be in place, one of the world’s largest brokers said on Friday.
Watchstone sells property and maintenance services businesses
Watchstone Group, the insurance technology firm formerly known as Quindell, has disposed of its property and maintenance services businesses as it looks to strategically focus the company on its key growth areas.
Citigroup cuts end-2016 FTSE, Stoxx targets
Citigroup downgraded its end-2016 targets for the Stoxx 600 and the FTSE 100, pointing to modest downgrades to GDP growth forecasts, additional stress in commodities and volatility in key FX markets.
APC Technology reports on a tough 2015
APC Technology was reportedly bouncing back from a tough 2015 this week, having released its annual results several months after year end.
Nichols full year in line, but UK market still challenging
Nichols said trading for the year ended 31 December was in line with the previous year and management’s expectations.
Rotala acquires OFJ Connections' Heathrow operations
Rotala has purchased OFJ Connections’ Heathrow operations for £1. 3m.
Tiziana reveals possible new anti-cancer molecule
Tiziana Life Sciences revealed the great strides it had made in the quest for cancer-fighting drugs this week, as part of its research partnership with the Cardiff University / Prifysgol Caerdydd.
London open: Stocks rebound as China scraps circuit-breaker rule
London stocks rebounded on Friday as oil prices reversed declines in the previous session and confidence grew on new measures in China.
Tesco rallies on Barclays upgrade
Tesco flew to the top of the FTSE 100 on Friday as Barclays upgraded the stock to ‘overweight’ from ‘equalweight’.