Market Pulse
Commodities: Oil futures hold firm above $40/bbl as Doha talks draw near
Global oil benchmarks steadied above the $40 per barrel level on Monday, as crucial talks between OPEC and non-OPEC crude producers scheduled in Doha, Qatar for 17 April drew market chatter.
Alcoa shares slide on mixed quarterly numbers
Metals and materials group Alcoa unofficially kicked off US earnings season on Monday, posting mixed results after the closing bell, with commodities prices dragging down sale.
US close: Stocks give up gains as investors turn to earnings season
US stocks gave up gains on Monday to close lower, with investors said to be looking ahead to earnings season.
FTSE 250 movers: Subsiding house builders undermine index
The FTSE 250 could not match the small rise of its blue chip neighbour index, falling 0. 26% on Monday as its property and housebuilding stocks cast a shadow across the mid caps.
Director dealings: Galliford director bought ahead of Edinburgh scandal
Shares in housebuilder Galliford Try hit their lowest since January last year, caught up in an Edinburgh schools scandal and tracking a sector-wide decline on Monday, despite deputy chairman Peter Ventress dipping into the market to snap up shares.
Market overview: Homebuilders drop sharply
1630:Close Stocks ended slightly lower, weighed down by losses in the homebuilding sector, although miners largely offset that drag. Cranswick was on a tear after announcing the purchase of Crown, its second (and more sizeable) foray into the poultry sector. Investec lifted its target price on the shares from 2,350p to 2,500p on the back of the news. Homebuilders were lower as some market commentary referenced a looming glut of high-end properties. Front-month Brent crude futures were nearly 2.
FX Roundup: Dollar weakness continues as yen breaches JPY108 level again
The dollar continued to weaken on Monday, as the yen breached JPY108 level for a second time either side of the weekend, with little in the way of economic data.
Europe close: Italian bank stocks rally
European stocks reversed opening losses to trade higher, with Italy’s FTSE Mib pacing the advance as the country’s bank stocks rallied.
Mexican industrial production figures for February point to revival in the sector
Industrial production in Mexico gave back some of the prior month's gains in February, but the underlying trend was pointing to ongoing support for the economy from activity levels in the sector.
CPP files injunction to prevent founder Ogston from voting in EGM
CPP Group has issued proceedings in the High Court against its founder and main shareholder, Hamish Ogston.
US Treasury Secretary says currency devaluations are unacceptable
Countries devaluing their currency so as to gain a competitive advantage was “completely unacceptable”, US Treasury Secretary Jack Lew said.
Monday broker round-up
Phoenix Group: JP Morgan downgrades to neutral with a target price of 942p.
Carr's Group disappoints as UK agriculture cannot follow US herd growth
Carr's Group sank to a five-month low as interim results from the mini-conglomerate showed lower revenue and pre-tax profits, but higher earnings and dividends and led to next year's earnings forecasts being trimmed.
FTSE 100 movers: Miners rally but housebuilders slump
London’s FTSE 100 was flat at 6,202. 58 in afternoon trading, with gains in the mining sector offset by weakness in housebuilders.
Genel receives March payments for Taq Taq field
Genel Energy said on Monday that partners of the Taq Taq field have received a gross payment of $19. 88m (£14m) from the Kurdistan Regional Government (KRG) for oil sales in March, with its share coming to $10. 93m.
Graeme Jenkins no longer joining Pets at Home as CFO
Graeme Jenkins will no longer be joining Pets at Home as chief financial officer.
Cybersecurity firm Osirium Technologies confirms AIM fundraising ahead of IPO
Cyber-security specialist Osirium Technologies has agreed a £6m fundraising ahead of a flotation on AIM on Friday.
US open: Stocks rally as earnings season begins
US stocks rallied on Monday as investors looked ahead to the start of the earnings season.
European Metals Holdings lifted by lithium excitement
Shares in mining minnow European Metals Holdings shot up 43% to their highest point since their London flotation as interest in the lithium sector intensified due in part to excitement around the launch of new electric cars and subsequent demand for lithium-ion batteries.
Helios Underwriting appoints Arthur Manners as FD
Helios Underwriting (HUW) has appointed Arthur Manners as finance director with immediate effect.