Market Pulse
Rolls-Royce slumps as investors prepare for dividend cut
Rolls-Royce shares were under pressure on Monday amid reports management of the aerospace and defence group will cut the dividend this week for the first time in 25 years.
Investec downgrades WPP to 'hold'
Investec downgraded WPP to ‘hold’ from ‘add’ and cut the price target to 1,380p from 1,480p, pointing to increased risk to global GDP expectations, “whether perceived or real is yet to be decided. ".
Six Flags extends Accesso Technology Group contracts to 2025
Accesso Technology Group has had its ticketing and queuing contracts with theme park company Six Flags Entertainment Corporation extended until 2025.
HSBC sees large gains for pound if 'yes' vote wins in referendum
Brokers weighed in with their views on Monday on the likely implications Brexit would have, just as Westminster and Brussels were expected to begin thrashing out the details of the 'new settlement' they would present to British voters.
Asia report: Japan leads start of quieter trading week
Japan led the start of what was set to be a quiet week in Asia on Monday, with many markets - particular those in mainland China - closed for the week-long Lunar New Year holiday.
Aviva appoints ex-Goldman Sachs executive to board
Aviva has appointed Claudia Arney as an independent non-executive director with immediate effect.
Monday newspaper round-up: Google, Rolls-Royce, Tullow Oil
Google is developing a new virtual-reality headset for smartphones, and adding extra support for the technology to its Android operating system, as it challenges Facebook's Oculus for an early lead in Silicon Valley’s latest platform war. The new headset will be a successor to Cardboard. the cheap-and-cheerful mobile VR viewer that Google launched in 2014, and feature better sensors, lenses and a more solid plastic casing, said people familiar with its plans. The smartphone-based device will be similar to the Gear VR, a collaboration between Samsung and Oculus that went on sale to consumers late last year.
Flow tests commencing at Horse Hill, says UKOG
UK Oil & Gas Investments (UKOG) revealed on Monday that operations were finally starting at the Horse Hill site, with the extended flow test being conducted over three separate zones within the HH-1 discovery well by Horse Hill Developments Limited (HHDL).
Old Mutual to sell London-based Rogge Global
Financial services group Old Mutual has agreed to sell London-based fixed income asset management business Rogge Global Partners to Allianz Global Investors.
Jefferies downgrades G4S on EM tail risks
G4S was under the cosh after Jefferies downgraded the stock to ‘underperform’ from ‘hold’ and slashed the price target to 170p from 260p.
Edenville Energy begins negotiations on Rukwa power plant
Edenville Energy revealed how close it was to construction of its Rukwa Coal-to-Power project in south west Tanzania on Monday, having started discussions with local grid officials about the scope of the project and its generation.
Sound Energy partners with OGIF, expands reach in Morocco
Sound Energy was expanding its reach in Morocco on Monday, signing an agreement with Oil & Gas Investment Fund (OGIF) for an option to acquire a 55% interest on OGIF's onshore Meridja permit.
Spanish industrial production dips in December
Spanish industrial production fell by 0. 2% month-on-month in December, according to the country´s statistics office, INE.
Inmarsat falls on Barclays downgrade
Despite strong growth forecasts, Barclays has downgraded Inmarsat from ‘equal weight’ to ‘underweight’, but raised its target price from 740p to 1,000p.
Imagination Technologies warns on profit, announces CEO departure
Chip designer Imagination Technologies announced a restructuring and the resignation of its chief executive with immediate effect, as it warned that it now expects to report a loss for the year.
Credit Suisse CEO Thiam said to ask for bonus cut
Credit Suisse’s chief executive officer Tidjane Thiam has reportedly asked the bank’s board to slash his bonus for 2015.
Market overview: Glencore jumps on reports of divestments
0930: The Footsie has slid lower, led by falls in the likes of ARM Holdings, Ashtead and WPP, as investors reacted to the steep drops last Friday on Wall Street. Miners were doing best on the top flight index, with shares in Glencore finding a bid following reports the commodities trading outfit was set to sell future precious metals production from a mine in Chile to American outfit Franco-Nevada. Oil futures are registering gains after Saudi Arabia´s oil minister said over the weekend he had held "successful" talks with his Venezuelan counterpart which were aimed at stabilising the crude oil market.
Speedy Hire buys OHP, strengthens rail sector services
Tools, equipment and plant hire services company Speedy Hire has acquired OHP Limited for an initial cash consideration of £1. 5m and the assumption of net debt of around £1. 7m.
Advanced Oncotherapy reshuffles executive roles
Advanced Oncotherapy has reorganised its executive roles as it focuses on operational functions as well as ongoing sales and business development.
Saudi Arabia holds successful talks with Venezuela, country´s oil minister says
Saudi Arabia held "successful" talks over the weekend with Venezuela, which is also a member of the Organisation for Petroleum Exporting Countries, on possible avenues of cooperation to help stabilise the crude market, according to the country´s oil minister.