Market Pulse
Gulf Keystone says finance deal unlikely in near term
Gulf Keystone Petroleum was under pressure after it said the current low oil price environment and the political situation Iraq cast significant doubt on the group’s ability to continue as a going concern, although it posted a narrower loss for 2015.
Vernalis drops into red after investment in cough treatment
Shares in Vernalis sank to an 11-month low after the biotech company posted a half-year loss as its first prescription cough cold product, Tuzistra XR, launched during what has proved a very mild flu season in the USA.
Philly Fed manufacturing index turns positive in March
Manufacturing conditions in the Philadelphia region improved far more than expected in March, turning positive for the first time in seven months, according to the latest report from the Federal Reserve Bank of Philadelphia.
US initial jobless claims increase less than forecast
US initial jobless claims increased by 7,000 in the last week to 265,000, less than the 268,000 that had been forecast.
Europe midday: Stocks turn lower as euro gains ground against dollar
European stocks reversed opening gains to trade lower as the euro advanced against the dollar, which took a hit from the Federal Reserve’s dovish stance on Wednesday.
London midday: Stocks slide as BoE holds on interest rates
UK stocks reversed earlier gains on Thursday as the Bank of England decided to keep interest rates unchanged.
Lufthansa shares plunge as airline misses expectations
Lufthansa released forecasts of slightly higher profits in 2016, with cut-price competitors and falling average prices negating the effect of lower fuel prices.
Vectura receives support from Skyepharma shareholder
Vectura – which focuses on the development of pharmaceutical therapies for airways diseases – has received a letter of intent from a Skyepharma shareholder supporting the companies’ proposed merger.
Premier Farnell profits softer as forecast but outlook disappoints
Final results from Premier Farnell were largely in line with expectation but reminders of the unrelenting challenges ahead for the refocused electronics distributor left investors disappointed.
US pre-open: Stocks set for weaker open as Fed-fuelled rally fades
US stocks were set to open lower on Thursday, giving back gains fuelled by the Federal Reserve in the previous session.
Shell-Saudi Aramco to split US joint venture
Motiva Enterprises - a US-based joint venture between Royal Dutch Shell and the state-owned Saudi Arabian Oil Company (Saudi Aramco) - was looking to be split between the two partners, it was announced on Thursday.
Safestyle full year profit up, special dividend announced
Safestyle posted a rise in full year profit as revenue increased and the company announced a special dividend.
GlaxoSmithKline's Witty to retire in early 2017
Bowing to pressure from institutional shareholders, GlaxoSmithKline chief executive Andrew Witty has decided to retire from the company at the end of March next year.
Eurozone confirms deflation though core CPI increases
Eurozone inflation remained in negative territory on an annual basis in February but rose more than expected compared to the previous month, while core consumer prices also rose slowly.
HSBC starts 10 UK housebuilders at 'buy'
HSBC initiated coverage of UK housebuilders saying the sector offers exposure to an area of real undersupply, with the UK government “largely pulling out all the stops to help”.
Asia report: Markets, currencies rally on dovish Fed
Most markets in Asia rallied on Thursday, after some clarity from the US Federal Reserve on the pace of its planned interest rate increases came out overnight.
Mortgage lending in February hits eight year high, CML data shows
Gross mortgage lending in the UK rose 29. 6% year-on-year to £17. 6bn last month but was down 5% than the month before.
Sirius Minerals expects up to $3bn annual earnings from York project
Sirius Minerals released the eagerly-awaited results of its feasibility study on the potash project in North Yorkshire on Thursday, saying its net present value is $15bn at a 10% discount rate.
Anglo American, Aquarius get South African approval for platinum disposals
Anglo American's platinum subsidiary and Aquarius Platinum have received regulatory approval to sell certain mining assets.
InterContinental Hotels drops on Morgan Stanley downgrade
InterContinental Hotels Group was under pressure after Morgan Stanley downgraded its rating on the stock to ‘equalweight’ from ‘overweight’ as the shares approach its 3,050p price target with a more balanced risk-reward.