Market Pulse
London midday: Rolls Royce leads gains ahead of US data
London-listed shares were moving higher at the end of the week as Rolls Royce dismissed worries about an impending rights-issue and after better-than-expected results out of German lender Commerzbank helped to buoy sentiment towards the bank sector across the Continent.
SuperGroup founder sells 4m shares, reportedly to fund divorce
The founder of SuperGroup – the company behind the popular Superdry fashion brand – has sold 4m shares due to “personal circumstances” amid reports he plans to use the proceeds to fund his divorce.
Europe midday: Stocks rebound amid well-received earnings
European equities racked up healthy gains on Friday, rebounding from heavy losses in the previous session as investors cheered results from the likes of Commerzbank and Rolls-Royce.
StatPro takes controlling interest in its South Africa partner
StatPro made an expansion in the South African market on Friday, acquiring 51% of its existing partner in the country - InfoVest - in a cash-free transaction.
Reduced leverage may have unintended consequences, Citi cautions
Selling in financial markets around the world thus far has been 'orderly' but the trends in certain market metrics were pointing to the risk that regulators had got it badly wrong in assuming reduced leverage on the part of financial institutions had made the financial system safer, Citi told clients on Friday.
Asia report: Japan leads another red Friday
Asian markets sank on Friday, as investors continued their week-long run for cover and offloaded their riskier assets.
Tullow Oil downgraded by Exane as sector challenges highlighted
Tullow Oil has been downgraded from ‘outperform’ to ‘neutral’ by Exane BNP Paribas, as it signalled the challenges for the oil exploration and production sector are “worse than we thought”.
Commerzbank surges as it swings to profit, announces dividend
Shares in German lender Commerzbank surged on Friday as it swung back to a profit in the fourth quarter and announced a dividend.
US dollar set to retreat to 95 yen by the end of 2016, Barclays says
Strength in the Japanese yen was set to continue throughout 2016 as the 'over-shooting' versus other currencies engineered by the country's central bank unraveled like a 'coiled spring', Barclays said.
Oxford Instruments appoints Gavin Hill as group FD
Provider of high-technology tools and systems Oxford Instruments announced the appointment of Gavin Hill as group finance director effective from 9 May following the resignation of Kevin Boyd.
Rolls-Royce halves dividend as profits fall 12%
As well as dismissing the need for a rights issue, Rolls-Royce cut its final dividend by 50% to 7. 1p and said it would be halved again at the next interim stage, though full year underlying profits did not fall as far as some feared.
Eurozone GDP up as expected in fourth quarter
Eurozone GDP grew 0. 3% in the fourth quarter, in line with the previous quarter and economists’ forecasts, according to a flash estimate from Eurostat.
Eurozone industrial production unexpectedly drops in December
Industrial output in the Eurozone unexpectedly fell in December, with energy the biggest drag, data from Eurostat showed on Friday.
Positive Namibia mining project update for North River Resources
North River Resources was brimming with confidence on Friday, releasing a positive update on its drilling campaign at the Namib Lead-Zinc Project in Namibia.
UK construction output rises as expected in December
UK construction output rose in line with expectations in December, according to data from the Office for National Statistics.
Countryside valued at £1bn in IPO
Housebuilder and urban regeneration partner Countryside Properties listed on the stock market at 225p per share, which was at the lower end of its previously stated range and gives it a value of around £1. 01bn.
Tritax Big Box successfully completes share issue
There was a fresh injection of capital heading Tritax Big Box's way on Friday, with the company's board announcing the success of its Placing, Open Offer and Offer for Subscription of Ordinary Shares.
Europa awarded licensing option in Porcupine Basin
Europa Oil & Gas's Irish activities received a boost this week, with the news that it had been awarded one of a tranche of Licensing Options in the southern Porcupine Basin, offshore Ireland.
London open: Rolls-Royce and banks lead FTSE bounce
Led by a relief rally in Rolls-Royce and banking stocks, shares in the UK's blue chips threw off the negative market sentiment and bounced back strongly after hitting three-year lows the day before.
Europe open: Stocks bounce bank as Commerzbank, Rolls-Royce surge
European stocks rose on Friday, bouncing back from heavy losses in the previous session as investors cheered results from the likes of Commerzbank and Rolls-Royce.