Market Pulse
US open: Stocks rally as yuan strengthens, oil recovers
US stocks rallied on Tuesday after China’s central bank set the yuan higher and oil prices rebounded.
Fresh tensions between Barcelona and Madrid likely, Citi says
The creation of a new government in the Spanish region of Catalonia over the weekend is unlikely to deliver full independence, even in the long-run, but fresh tensions with the central government in Madrid can be expected to materialise soon, Citi told clients.
Barclays lowers targets on miners; Anglo American and Randgold spared
The bad times for the mining sector were likely to continue, despite a tough last five years, which saw the worst performance for it since 1966, analysts at Barclays said.
FTSE 100 movers: Tesco surges on rival's unexpected positive results
The FTSE 100 continued to recover some of its losses from the start of the year, rising 107. 03 points (1. 82%) to 5,978. 86 by mid-afternoon Tuesday.
FTSE 250 movers: Debenhams solid Christmas trading spurs on market
The FTSE 250 was in the black by mid-afternoon Tuesday, rising 124. 94 points (0. 75%) to 16,783. 26.
Boohoo.com posts big jump in sales
Online clothing retailer Boohoo. com reported a big jump in sales for the four months to the end of December, with encouraging trading across all regions.
Jefferies hoists target prices for housebuilding sector
Jefferies has upgraded house builders Barratt Developments, Berkeley and Galliford Try due to the UK's continued housing shortage outweighing other concerns.
Istanbul blast caused by Syrian suicide bomber, says Erdogan
Turkish President Recep Tayyip Erdogan said the blast that killed 10 people and wounded 15 in Istanbul’s historic Sultanahmet district was thought to have been triggered by a suicide bomber of Syrian origin.
Credit Suisse ups Shire to 'outperform' on Baxalta merger
Shire got a boost on Tuesday after Credit Suisse upped the stock to ‘outperform’ from ‘neutral’, following the proposed merger with US peer Baxalta.
Wednesday preview: Sainsbury's in the spotlight with trading update
J Sainsbury reports its trading update on Wednesday, a day after the latest figures from Kantar Worldpanel revealed it was the only one of the Big Four supermarkets to increase its market share.
Anglo American finally completes exit from Tarmac
Anglo American has finally completed the exit from its Tarmac joint venture, with the sale of assets in the Middle East to a subsidiary of French engineering and construction group Bouygues.
Credit Suisse upgrades bookies William Hill and Ladbrokes
Credit Suisse upgraded William Hill to ‘outperform’ from ‘neutral’ and lifted the price target to 500p from 420p, saying the cash return story was as attractive as M&A.
US pre-open: Markets set to continue recovering week one losses
US markets looked to again recover from the losses from the start of the year.
Tuesday newspaper share tips: Taylor Wimpey a strong house to invest in
A strong housing market has led The Times’ Tempus to rate Taylor Wimpey at ‘buy long term’.
Melrose Industries could join Philips lighting auction - report
Melrose Industries has begun running the rule over the £4bn lighting arm of Dutch electronics giant Philips, which would represent the group's largest purchase to date, Sky News reported, citing an unnamed source.
Broker tips: Centrica, BHP Billiton, Premier Oil
Exane BNP Paribas upgraded Centrica to ‘outperform’ from ‘neutral’, maintaining a 250p price target, saying the stock has had a tough couple of years but this is now all in the price.
BP to cut 20% of North Sea staff as oil price bites
Oil giant BP said it plans to cut around 6,000 jobs in its global production division, 600 of which will be at its North Sea operations, as it looks to combat sliding oil prices.
Great Portland Estates enjoys strong letting value growth
New London letting values were up 17. 9% for Great Portland Estates in the third quarter compared to the end of its last financial year, as it secured 15 letting agreements.
London midday: FTSE gains on supermarket rally, firmer yuan
The FTSE jumped on Tuesday as China’s central bank fixed the yuan higher and supermarket stocks rallied.
Europe midday: Stocks push higher as retailers rally
European stocks rose on Tuesday as oil recovered somewhat from recent lows, with retailers among the best performers.