Market Pulse
Deutsche Bank sees upside to European stocks, warns of unstable equilibrium
Dovish guidance from the US Federal Reserve reduces the risk that sovereign bond yields will rise in 'real' terms, which in turn should support European equities, including the likes of Rio Tinto, but tensions in credit markets and other segments of global capital markets could resurface in the second half of 2016, strategists at Deutsche Bank said.
Investec downgrades Debenhams on structural challenges
Investec downgraded Debenhams to ‘sell’ from ‘hold’ and trimmed the price target to 67p from 70p amid expectations of little profit over the medium term.
JP Morgan sees increased downside risks for DJ Stoxx 600
The DJ Stoxx 600 equity benchmark is losing momentum even as other markets pick up the tempo, pointing to renewed downside risks, technical analysts at JP Morgan told clients.
Smiths Group boosted by RBC upgrade
Smiths Group got a boost after RBC Capital Markets upgraded the stock to ‘outperform’ from ‘sector perform’ and lifted the price target to 1,225p from 1,050p saying it expects the recent outperformance to continue.
Further Eurozone rate cuts possible, ECB chief economist Praet says
Further interest rate reductions in the single currency area are possible if the European Central Bank's recently announced barrage of new measures fails to have the desired effect, a top official said at the end of the week.
Investec results to be hit by weak rand, volatile markets
Dual-listed bank and asset manager Investec said on Friday that its results have been hit by the slump in the South African rand and equity market volatility, but operating profit will be a touch ahead of the previous year.
Arriva wins London Overground concession
One of London's largest railway concessions was awarded to Arriva on Friday, with the German-owned transport group set to take over the current 50-50 joint venture on London Overground.
Credit Suisse downgrades mining sector to 'underweight'
Credit Suisse downgraded the mining sector on Friday as it reviewed its global equity strategy.
Europe open: Stocks little changed as investors pause for breath
European stocks wavered in early trade as investors paused for breath following recent gains, at the end of a week jam-packed with policy decisions.
Fastjet shares crash as it hits back at EasyGroup
Tanzania-based budget airline Fastjet on Friday criticised easyGroup for going public with a letter relating to the two companies’ contractual relationships and said it was seeking legal advice.
AB Foods still in talks over Illovo acquisition
Associated British Foods said on Friday that it was still in talks over the potential acquisition of the remaining shares of Durban-based Illovo Sugar Ltd it does not already own.
German producer prices fall more than expected in February
German producer prices fell more than expected in February, according to the latest data from Destatis.
Mike Tye to join Restaurant Group board
The Restaurant Group announced the appointment of Mike Tye to its board on Friday, as a non-executive director and chairman of the remuneration committee.
London pre-open: Stocks seen just a tough higher
London stocks are set to open just a touch higher on Friday despite positive sessions in the US and Asia as the dollar continues to slide in the wake of the Federal Reserve’s dovish outlook on interest rates this week.
BT picks up BG's Simon Lowth
BT Group announced the appointment of Simon Lowth as group finance director on Friday, also assigning him an executive board director.
Friday newspaper round-up: Sainsbury's, Hinkley Point, Oil, GSK
The new administrators of Libor are overhauling the way it is calculated, reducing its reliance on banker estimates in an attempt to restore faith in the scandal-hit rate. US markets operator Intercontinental Exchange took over administration of the London Interbank Offered Rate in 2014 after a global investigation found traders were influencing the daily rate calculations to benefit their own books. – Financial Times.