Market Pulse
Grocers and miners lead gains
Miners and grocers led gains on the market as the selling pressure on two of the past week's worst performers eased a bit.
Market overview: Retailers, banks pace gains
1630:Close Retailers were near the top of the leaderboard on Friday, with markets apparently keying off of Tesco’s latest annual report. The sector was also the best performer at the pan-European level, with the DJ Stoxx 600 sector gauge rising by 1. 10% to 307. 06. Banks also did well, even in the face of warnings from IMF managing director Christine Lagarde regarding the risks that Brexit might entail for the economy. Coincidentally, IG’s Brexit binary was only attaching a 29% probability to such a scenario.
Directors dealings: National Express boss unloads shares
National Express’s boss offloaded a large amount of shares at the end of the week as a result of two transactions.
Europe close: Stocks boosted by strong US data, weak euro
European stocks rallied into the close on the back of a stronger than expected read on US retail sales and consumer confidence for the month of April and a weaker euro.
US open: Wall Street mixed despite strong economic reports
US stocks were trading mixed as oil prices fell and on the heels of ‘hawkish’ rhetoric from some Fed officials overnight, apparently brushing off better-than-expected readings on retail sales and consumer confidence.
US pre-open: Stock futures fall as oil prices edge lower
US stocks are expected to open lower on Friday as oil prices fall and investors awaited data on retail sales.
US business inventories grow more quickly than expected in April
Inventories held by US businesses grew by 0. 4% month-on-month in March to reach $1. 82trn, according to the US Department of Commerce.
US consumer sentiment rebounds strongly in April, some economists cautious
Consumer’s mood picked up noticeably in April, the results of a widely-followed survey revealed, so much so in fact that some economists recommended taking the figures with a pinch of salt.
FTSE 100 movers: Tesco on top while Inmarsat loses steam
The FTSE 100 was just above the line in Friday afternoon trading, having spent much of the session in the red after the IMF warned Brexit would have a 'detrimental' impact on the UK economy.
Headline producer prices weaker than expected in April
Final producer prices edged higher in April, boosted by inflation in the good sector but were nonetheless unchanged when compared to year-ago levels.
Friday newspaper share tips: TalkTalk, British Land, Land Securities
TalkTalk has recovered nicely following the hacking scandal that hit the company but they've come far enough, absent a takeover offer which is now appears unlikely to materialise, The Times's Tempus said.
Europe midday: Stocks come off lows ahead of US data
European stocks came off their lows of the session, ahead of the release of US data on retail sales and consumer confidence with the Stoxx 600 on the brink of a third consecutive weekly loss.
Apple puts $1bn into Chinese Uber competitor
Computing and technology giant Apple announced a massive new investment overnight - it’s putting $1bn into Chinese car service Didi Chuxing.
Eutelsat warning raises questions about Inmarsat's guidance, Berenberg says
A profit-warning from satellite-operator Eutelsat led analysts at Berenberg to question the explanations given by London-based Inmarsat to explain its own recently lowered near-term guidance.
Credit Suisse sticks to overweight stance on Turkish equities
Credit Suisse strategists stuck to their upbeat view on Turkish equities despite the short-term political risks, putting forth half a dozen reasons to back up their argument.
Asia report: Region finishes Friday in the red
Asian markets finished Friday on a disappointing note after a volatile week of trading, with stocks in Japan under fresh pressure from the yen.
UK construction output falls sharply in April
Construction output in the UK fell more than expected in March.
Eurozone GDP rises less than expected in first quarter
The Eurozone economy grew less than expected in the first quarter, according to the flash estimate from Eurostat on Friday.
Chinese money supply growth slows in April, but government borrowings surge
Chinese lenders pulled back on extending credit in April, but government borrowing surged, possibly indicating that easier credit will help to sustain stronger growth until the end of the year, economists said.
Credit Suisse raises Acacia Mining's target price and earnings forecast
Acacia Mining’s shares rose as Credit Suisse (CS) raised its target price to 380p from 300p and reiterated an ‘outperform’ rating on the stock.