Market Pulse
US close: Wall Street runs in circle to end flat
Wall Street was all mouth and no trousers on Thursday, ending the day back where it started despite bustling hither and thither against a backdrop of falling oil and bold action from the European Central Bank.
Europe close: Stocks end lower amid high volatility in banks
European stocks finished the session with hefty losses after European Central Bank president Mario Draghi said the Governing Council did not see a need for further interest rate cuts at present, in turn boosting the value of the single currency, although some analysts still saw scope for further measures if needed.
Bonds: Analysts left scratching their heads by market reaction to Draghi
These were the movements in the most widely-followed 10-year sovereign bond yields:.
Thursday newspaper share tips: G4S, Prudential
Three years after rising to the helm of G4S, company chief Ashley Almanza is still promising investors he will fix the balance sheet and shrink a bloated cost base, the Financial Times's Lex column said.
ECB decision - Analysts react
"I feel that the reaction IS puzzling to most traders, yours truly included, and seems to indicate the market was very short going into the announcement, and the inability to take out key EUR/USD support at $1. 0800 possibly led to a technical turnaround. Liquidity IS horrific, which has, no doubt, exacerbated the counter-move higher. It’s safe to say that it will now be a major development to take out key support at $1. 0800 in the near term. [. ] if Fed Chair Yellen ‘cuts and pastes’ the Draghi comments into the 15-16 March FOMC statement then it will sound more like the statement from September 2015 than it sounds like last October, when the Fed was getting the global markets READY for a December “lift-off”.
Sector movers: Resource stocks tumble as oil futures shed gains
The London market was dragged lower on Thursday by resources stocks and insurers, following a decline in oil and metal prices.
Commodities: Oil futures slide as US inventory data hits home
Oil futures shed spectacular overnight gains on Thursday, after US crude inventory data finally weighed on trading sentiment.
Peel Hunt upgrades Auto Trader to 'buy'
Peel Hunt upgraded Auto Trader to ‘buy’ from ‘add’ with an unchanged price target of 445p, which signals around 25% upside from current levels.
US open: Stocks mixed after ECB move
Wall Street was trading in a mixed fashion early on in the session, despite what most economists described as “bold” action from the European Central Bank to over-deliver on market expectations for monetary policy stimulus.
FX Roundup: Euro sees modest uptick as market adjusts to ECB decision
The euro registered modest gains on Thursday after the European Central Bank slashed its main interest rate by 5 basis points to 0. 00% and increased quantitative easing by €20bn.
Bernstein slashes target on RBS, says Brexit risks have killed risk appetite
The fact that the short-term rates are not going to rise anytime soon – indeed they might yet fall – faltering demand for credit in the UK, expectations that unemployment in Britain would rise by the end of 2016 and the now “extremely unlikely” resumption of dividend payments this year all led analysts at Bernstein on Thursday to downgrade their recommendation on shares of RBS and halved their target price.
FTSE 250 movers: Ophir surges but Morrisons slips after results
London’s FTSE 250 index was up 0. 2% to 16,616. 49 at 1455 GMT, underperforming the broader market as stocks in Europe surged after European Central Bank chief Draghi delivered the “big bazooka” investors had been hoping for.
Director dealings: Joy takes advantage of Biotech Growth slump
Andrew Joy, senior independent director in the Biotech Growth Trust, has bought almost £180,000 worth of shares in the FTSE listed investment trust after they fell by more than a third since last summer's peak.
IP Group receives £13.1m from sale of Tracsis
IP Group has received net cash proceeds of £13. 1m from the sale of its entire holding in portfolio company Tracsis.
Origo falls even further as Brooks Macdonald files winding-up order
Shares in China-focused investor Origo Partners fell to new all-time lows after Brooks Macdonald Asset Management filed court order seeking to wind up the company.
Twitter said to sweeten payouts to retain talent
Twitter has reportedly been sweetening its employee compensation packages to keep hold of its talent.
Barclays receives strong expressions of interest in African unit
Barclays had received strong expressions of interest in its African banking franchise since it announced its intention to sell, just one week before, the bank’s chief said on Thursday.
US weekly unemployment claims fall steeply
Initial US weekly unemployment claims fell by 18,000 over the week ending on 5 March to reach 259,000, according to the US Department of Labor.
Hydrodec achieves new production record and aims for more
Hydrodec Group said its plant at Canton, Ohio, which re-refines waste transformer oil into a reusable product via its low emission process, has hit a monthly production record of 2. 45m litres in February.
Thursday broker round-up
Eagle Eye Solutions: Panmure Gordon downgrades to hold with a target price of 163p.