Market Pulse
Brexit could cost UK economy up to £100bn and 950,000 jobs, says CBI
Leaving the European Union could cost the UK economy up to £100bn and around 950,000 jobs, according to a report from PwC commissioned by the Confederation of British Industry.
Tesco appoints foods specialist to board
Tesco has appointed chilled and ambient foods expert Lindsey Pownall to its board as a non-executive director.
Mondi says its factories not targeted by EC inspections
Paper and packaging company Mondi said it was unaffected by unannounced inspections by the European Commission at several companies in the kraft paper and industrial bags sector last week.
Short covering drives gain in net longs in oil futures, CFTC data shows
Hedge funds and other speculators covered their ´short´positions in crude oil futures and options Stateside last week, which analysts said at least in the very short-term might be a cautious endorsement of the staying power of recent gains in oil prices.
Henri de Castries stepping down from Axa
Chairman and chief executive of Axa, Henri de Castries, announced his intention to retire from the French insurer on Monday, with Thomas Buberl taking his place as CEO.
JP Morgan cuts Eurozone equities as it highlights dollar weakness
JP Morgan Cazenove has cut its stance on Eurozone equities to ‘neutral’ from ‘overweight’, pointing to weakness in the US dollar.
Looser controls on margin trading drive gains in Chinese stocks
Chinese stocks closed higher at the start of the week, boosted by Chinese policy-makers´ decision to loosen controls on margin trading.
London open: Mining stocks lead FTSE 100 lower
UK stocks declined on Monday, led by mining shares as commodity prices declined.
Europe open: Stocks slip as oil prices slide
European stocks slipped in early trade following a mixed session in Asia, as oil prices declined and investors awaited fresh catalysts at the start of a shortened trading week.
Jefferies downgradesTullow, upgrades Soco International
Jefferies downgraded Tullow Oil to ‘underperform’ from ‘hold’ with an unchanged price target of 166p.
Ian Kellett to take the helm at Pets at Home
Pets and Home Group announced the appointment of Ian Kellett as its chief executive officer on Monday, taking the helm from 4 April.
Tungsten rejects Truell offer as he resigns from board
Payments invoicer Tungsten Corp said on Monday that it has rejected an offer from former chief executive Edi Truell, who has now resigned from the board.
London pre-open: Stocks seen lower as investors await fresh catalysts
London stocks are set to open lower on Monday as investors look for fresh catalysts at the start of a four-day week.
Synthomer agrees to gobble up Hexion
FTSE 250 specialty chemicals company Synthomer announced the $226m (£156m) acquisition of Hexion Performance Adhesives & Coatings on Monday morning, to be completed this summer following regulatory approval and other conditions.
Monday newspaper round-up: Brexit, Dyson, BHS, sugar tax, Barclays
The UK economy could lose more than half a million jobs by 2020 in the event of a vote to leave the EU and would be unlikely to recover from the impact fully even after 15 years, the head of the CBI is set to warn. Carolyn Fairbairn, director-general of the business lobby, will present research by PwC, the professional services firm, suggesting the shock of a British exit could cut economic output between 3 and 5. 4 per cent in 2020, depending on what sort of deal Britain managed to negotiate with its trading partners.
FX round-up: US dollar RSI pointing towards possible bounce
Cable ended the session little changed as a semblance of calm returned to foreigh exchange markets after a week marked by heavy selling in the US dollar which drove a key technical indicator deeply into 'oversold' territory - possibly heralding that at least a bounce might be in the offing.
Bonds: Odds of Fed rate hike by mid-2016 drift lower
These were the movements in the most widely followed 10-year sovereign bond yields:.