Market Pulse
Fitch does not expect large trade-weighted depreciation of Chinese yuan
The People’s Republic of China was facing the classic policy dilemma of all countries who simultaneously attempted to try to freely use exchange rates and interest rates while allowing free capital flows, Fitch Ratings said.
Beowulf Mining buys Finnish graphite company
AIM-listed mineral exploration and development company Beowulf Mining has acquired privately-owned graphite exploration company Fennoscandian Resources, which has four early-stage exploration projects in Finland.
BofA Merrill Lynch lifts Sage on long-term growth
Software supplier Sage got a boost after Bank of America Merrill Lynch upgraded the stock to ‘buy’ from ‘underperform’ and lifted the price target to 660p from 400p.
Shire to buy Baxalta for $32bn, shares gain
London-listed Shire Pharmaceuticals announced on Monday the purchase of US-based Baxalta for $32bn, provoking a mixed reaction from traders.
Tuesday preview: Morrisons and Debenhams report Christmas trading
WM Morrison Supermarkets is expected on Tuesday to report a drop in sales over the Christmas period amid tough competition and heavy discounting in the sector.
Big Yellow Group has outstanding track record, says Investec
Big Yellow Group’s target to double its earnings by 2022 doesn’t look overly ambitious given its “outstanding” track record of growth, according to Investec on Monday.
Broker tips: BAE Systems, UK life assurers, Big Yellow
JP Morgan Cazenove believes 2016 will be a big year for defence stocks and has upgraded BAE Systems from ‘neutral’ to ‘overweight’.
US pre-open: Markets bucking the China trend
US markets looked to buck the trend started in China, which saw markets plunge last week.
Oil could fall to high $20s due to dollar strength, Morgan Stanley says
The price of oil may fall to $20 a barrel, but as a result of US dollar strength, not because of any other changes in the fundamentals of oil, Morgan Stanley told clients on Monday.
Deutsche Bank reviews UK life assurers; notes uncertain outlook
Deutsche Bank adjusted its ratings on London-listed life assurers as it took a look at the UK sector, saying the outlook was uncertain on a number of fronts.
Hargreaves Services buys C A Blackwell Group to diversify operations
Hargreaves Services has acquired C A Blackwell Group for £11. 85m in a bid to diversify its operations.
Asia: Stocks slide as China worries persist
Asian stocks were in the red as China lost further ground amid concerns about the slowdown in the world’s second largest economy.
London midday: Stocks decline on China slowdown fears
London stocks declined on Monday, following a slump in Asian equities as concerns over China’s economic slowdown persisted.
Europe midday: Stocks waver, showing some resilience to China turmoil
European stocks wavered on Monday, proving somewhat resilient following significant losses in Chinese markets, as investors digested data showing economic confidence in the euro bloc deteriorated more than expected this month.
BT said to consider joint ventures with Deutsche Telekom
BT Group is said to be considering joint ventures with Deutsche Telekom once the acquisition of EE goes through and it becomes its largest shareholder.
BT appoints Clive Selley as CEO of Openreach
BT Group has appointed Clive Selley as the new chief executive officer of its broadband infrastructure unit, Openreach.
Taylor Wimpey reports strong year with record order book for 2016
Taylor Wimpey has indicated 2015 was a year of steady growth, and has indicated it is starting the new year with a strong order book.
Rockhopper and Falkland rally on oil discovery
Oil and gas exploration and production companies Rockhopper Exploration, Falkland Oil and Gas, and Premier Oil issued statements on Monday confirming the discovery of oil at the Isobel deep well, which is on the edge of neighbouring oilfield Elaine in Falkland Islands waters.
BAE Systems upgraded on big year ahead for defence stocks
JP Morgan Cazenove believes 2016 will be a big year for defence stocks and has upgraded BAE Systems from ‘neutral’ to ‘overweight’.
Eurozone sentiment deteriorates more than expected in January
Economic sentiment in the Eurozone worsened more than expected in January, according to the latest survey released by Frankfurt-based research group Sentix.