Market Pulse
IAG flies higher on BofA Merrill Lynch upgrade
British Airways and Iberia parent International Consolidated Airlines flew higher on Monday after Bank of America Merrill Lynch upgraded its stance on the stock to ‘buy’ from ‘underperform’ with an unchanged price target of 610p.
Coms enjoys significant trading improvement at Redstone
Full year earnings at Coms Plc have beaten management targets thanks to strong sales and profit performance from IT services provider Redstone.
Broker tips: Reckitt Benckiser, IAG, Hays
Reckitt Benckiser's full-year results were "exceptionally strong", broker Canaccord Genuity said following the company's latest results, but the shares already "full-valuation" meant that it left its 'hold' recommendation on ice.
Boohoo expands Manchester HQ with £1.6m property acquisiton
Online clothing retailer Boohoo. com has agreed to acquire a property on China Lane in Manchester for £1. 6m that will be used to extend the company’s head office space.
Credit Suisse cuts targets for Drax, Centrica, and SSE
Lower energy prices and their impact on those for power meant the major UK power groups would need to carry out self-help measures, although the ability of Centrica and Drax to do so was underappreciated by markets, Credit Suisse said.
Asia report: Japan fires region's engine after dire week, Yuan revalued
Shares in Japan steamed ahead on Monday as investors lapped up weathered financial stocks, and the Japanese yen continued an easing back seen over the weekend.
Reckitt Benckiser revenue up 5% on constant currency basis to £8.87bn
Reckitt Benckiser saw broad growth in the year to 31 December, despite mixed market conditions.
Eurozone trade surplus drops in December
The Eurozone trade surplus fell to €21bn in December from a downwardly-revised €22. 6bn in November, according to data released by Eurostat.
Japan fourth quarter 2015 GDP falls more than expected
Japanese economic activity slowed more than was expected at the end of 2015, as household consumption dropped sharply.
E-Therapeutics depression drug trials miss targets
Drug trials results for e-Therapeutics' depression treatment were not as successful as had been hoped, sending shares in the company sharply lower.
Sound Energy starts work on Tendrara licence
AIM-listed upstream gas company Sound Energy has begun ground works at the Tendrara licence area in Morocco and all contracts have now been awarded for the first well.
Magnolia Petroleum completes share placing
Magnolia Petroleum's work to shore up its balance sheet amid a tough oil price environment came to fruition on Monday, with a discounted fundraising of £300,000 via the issue of 214. 3m new shares at 0. 14p each.
Greka Drilling secures new contract from Essar Oil
AIM-listed unconventional oil and gas driller Greka Drilling announced a new contract to provide drilling services to Essar Oil on the Raniganj East Block in West Bengal, India.
Hays gets a boost from HSBC upgrade
Hays got a boost on Monday after HSBC upgraded the stock to ‘buy’ from ‘hold’ and lifted the price target to 155p from 140p as it took a look at the UK staffing sector.
London open: Stocks jump after China sets higher value for the yuan
Stocks jumped out of the gate after China's central bank set a higher daily reference value for the country's currency, with central bank chief Zhou Xiaochuan talking about the need for patience in balancing reform, growth and stability, as well as China's need to remain a responsible economic power.
China's central bank sets higher fixing for yuan
China's currency appreciated by the most since July 2005 on Monday, as investors played catch-up with US dollar weakness over the week-long Lunar New Year holidays, with some economists saying a higher-fixing from the central bank signaled lower odds of a large devaluation of the renminbi.
Europe open: Stocks rally on strong Asian cues; IAG flies higher on upgrade
European stocks kicked the week off on an upbeat note, taking their cue from a strong session in Asia, despite the release of disappointing Chinese and Japanese data.
Chinese trade for January underwhelms, economists wary of drawing conclusions
The latest data on China's international trade, for the month of January, made for grim reading, but some economists cautioned the data had likely been distorted by the impact of the Lunar New Year holidays and other atypical factors.
Al Noor Hospitals completes merger with Mediclinic
United Arab Emirates-based healthcare provider Al Noor Hospitals’ merger with South Africa’s Mediclinic has been completed.
Acacia Mining reports muted year as gold prices fall
Acacia Mining remained confident in a low gold price environment at the end of 2015, with the company reporting muted full year numbers on Monday, but an ongoing cost cutting plan to ensure sustainability.