Market Pulse
Credit Suisse initiates coverage of Hammerson, Intu Properties
Credit Suisse started Hammerson at ‘outperform’ with a 630p price target and Intu Properties at ‘underperform’ with a 300p price target as it initiated coverage of the European retail REIT sector.
Nomura reiterates TUI's 'buy' rating
TUI AG’s ‘buy’ rating and target price of €22. 60 (£17. 85) were left unchanged by Nomura after the company said summer holidays were higher than last year.
Asia report: Markets mixed at end of March quarter
Markets were mixed in Asia on Thursday, with some retreating from their strident advances seen earlier in the week after the dovish stance from US Federal Reserve chief Janet Yellen on the state of the economy.
Broker tips: TUI, Countryside Properties, Hammerson
TUI AG’s ‘buy’ rating and target price of €22. 60 (£17. 85) were left unchanged by Nomura after the company said summer holidays were higher than last year.
Norcros appoints Shaun Smith as FD
Bathroom accessories and fittings supplier Norcros has appointed Shaun Smith as group finance director with effect from 4 April 2016.
Jefferies downgrades William Hill after profit warning
Jefferies downgraded William Hill to ‘underperform’ from ‘hold’ and slashed the price target to 280p from 380p following the company’s profit warning last week.
Peel Hunt starts Countryside Properties at 'buy'
Peel Hunt initiated coverage of Countryside Properties at ‘buy’ with a 290p price target.
BlackRock to reduce global headcount by 3%, reports say
Money manager BlackRock is poised for a major round of job cuts, according to media reports on Thursday.
UK consumer confidence remains low due to economic angst
UK consumer confidence remains stuck in the doldrums, with concerns about the economic situation dampening a more upbeat mood among individuals.
Nanoco rejigs Dow deal but warns of short-term revenue hit
Nanoco has rejigged its licence agreement with Dow Chemical, giving the US giant non-exclusive rights to use and market its cadmium-free quantum dots in return for a lower royalty rate on any sales Dow makes and no earn-out income.
AO World highlights strong fourth quarter amid market share gains
AO World surged on Thursday after the online electrical goods retailer said it enjoyed a better fourth quarter than it expected.
Panmure Gordon swings to full year loss
Institutional stockbroker and investment bank Panmure Gordon swung to a pre-tax loss in 2015 as extreme volatility, in large part due to concerns about Chinese growth and attendant collapses in commodity markets, constrained the equity capital markets.
Europe open: Stocks fall; telecoms under pressure
European stocks fell in early trade, with telecoms issues under pressure as investors looked to the release of some key data points.
German retail sales unexpectedly drop in February
German retail sales unexpectedly fell in February, according to figures released by Destatis on Thursday.
Rupert Soames retiring from Electrocomponents board
Electrocomponents announced the retirement of Rupert Soames as non-executive director on Thursday.
Another year of impressive growth for Polypipe
Polypipe’s first full year as a listed company saw more massive growth, with the plastic piping and ventilation systems manufacturer reporting strong increases in revenue and earnings in its final results on Thursday.
RPC Group sees profit and revenue significantly ahead
Plastic products design and engineering company RPC Group expects revenue and adjusted operating profit for the year to be ahead of the previous year.
Financial year ends strong for 3i Infrastructure
Investing company 3i Infrastructure ended its financial year on a high, reporting solid growth in portfolio income on Thursday, for the 13 weeks to 30 March.
Booker total sales rise in fourth quarter, full year
Food wholesale retailer Booker Group said total sales grew in the fourth quarter and for the year as a whole, but like-for-like sales were dented by price deflation.
HomeServe expands US footprint with USP acquisition
HomeServe was looking to add another 10m homes to its US market on Thursday, announcing it had entered an agreement to acquire home assistance business Utility Services Partners.