Market Pulse
Turkish markets bounce as PM Davutoglu steps down, Erdogan concerns remain
Turkish Prime Minister Ahmet Davutoglu has stepped down amid growing tensions with President Recep Tayyip Erdoğan, raising concerns of a further shift towards authoritarian policymaking in the country.
Rio Tinto reduces debt by USD1.5bn after buyback
Rio Tinto confirmed it bought back $1. 5bn of near-term maturing debt, as hoped, in a pair of tender offers to bondholders.
BGEO completes pharmaceutical retail acquisition
Bank of Georgia holding company BGEO Group confirmed its healthcare arm has completed the acquisition one of the top three pharmaceutical retailers and wholesalers in Georgia.
John Laing ups stake in Barcelona Metro project
John Laing Infrastructure Fund has entered into an agreement with Acsa, a member of the Sorigue Group, to acquire an additional 13. 5% interest in the Barcelona Metro Stations Line 9 Section II project.
Europe midday: Stocks waver as investors wade through earnings
European stocks wavered as a rebound in oil prices was offset by a reluctance to make bold moves ahead of Friday’s non-farm payrolls report, amid thinner volumes due to holidays in Europe.
UK services PMI slumps to 38-month low in April
UK service sector growth slumped to a 38-month low in April, according to figures released on Thursday.
Derwent London reports strong first-quarter activity
Derwent London reported strong letting activity and development progress in its first quarter on Thursday, securing £13. 2m of annual rental income by letting or pre-letting 185,400 square feet.
Asia report: Oil fills up markets on quiet trading day
Higher oil prices filled up markets across Asia on Thursday, after some choppy trading earlier in the session.
US pre-open: Stocks seen higher as oil prices advance; jobless claims eyed
US futures pointed to a firmer open on Wall Street amid rising oil prices, as investors looked to some key jobs data.
UBS upgrades Stagecoach to 'buy' from 'neutral'
UBS upgraded Stagecoach to ‘buy’ from ‘neutral’, pointing to recent weakness in the share price and expected catalysts over the next 12 months.
Barclays sells Barclays Africa stake down to 50.1 percent
Barclays has sold down its stake in its African subsidiary to 50. 1% after a placing in South Africa with institutional investors at a price of 126 rand (584p) that valued the shares at 13. 05bn rand (£603m).
Trinity Mirror calls time on New Day
In a trading update for the four months to the 1 May, Trinity Mirror said it was calling time on The New Day just nine weeks after its launch, citing disappointing sales.
Renewables Infrastructure Group announces quarterly dividend
The Renewables Infrastructure Group announced an interim dividend on Thursday, of 1. 5625p per ordinary share, in respect of the three months to 31 March.
Steven Dance stepping down from Interserve
Support services and construction group Interserve announced on Thursday that Steven Dance - executive director and managing director of equipment services - was to retire.
Kennedy Wilson reports strong first quarter
Real estate and loans investor Kennedy Wilson Europe reported a strong total portfolio value at the end of its first quarter on Thursday, at £2. 773bn across 287 properties.
Wood Group 'saves 500 jobs' with Shell North Sea contract extension
John Wood Group has won a three-year contract extension with Shell to support the oil giant's North Sea offshore operations, which it said would save 500 at-risk jobs in Scotland.
HSBC retains 'hold' rating but raises target price at Centrica
Centrica’s shares fell on Thursday as HSBC warned the owner of British Gas could face a credit rating downgrade.
Millennium & Copthorne profit edges lower amid uncertain outlook
Millennium & Copthorne reported a small drop in first-quarter profit as hotels revenue fell and the company warned of an “uncertain” outlook.
Lancashire Holdings Q1 profit down, gross written premiums drop
Lancashire Holdings posted a drop in first-quarter pre-tax profit as gross premiums written fell.
Centrica announces placing to cut debt, make acquisitions
FTSE 100 energy supplier Centrica announced plans to raise around £750m in a placing to fund acquisitions and cut debt.