Market Pulse
EnQuest reiterates FY output guidance
EnQuest has reiterated its full-year production guidance for 44,000-48,000 barrels of oil equivalent per day (Boepd), and said it is on track to meet its cost-reduction targets.
Philly Fed index slips in May, misses forecasts
Manufacturing conditions in the Philadelphia region unexpectedly deteriorated further in May, according to the latest report from the Federal Reserve Bank of Philadelphia.
Thursday broker round-up
Countryside Properties: JP Morgan reiterates overweight with a 280p target.
Investec increases earnings as banking and wealth managenment shine
Full year results from Investec showed the Anglo-South African bank increased profits as it makes progress with its rejigged model despite the turbulence in its markets.
The Restaurant Group attracting private equity interest, reports say
Shares in The Restaurant Group spiked on Thursday afternoon as reports emerged of possible private equity interest in the lately troubled Garfunkel's and Frankie & Benny's owner.
Asda sales slide as price cuts fail to arrest decline
Asda continued to struggle, the supermarket chain's US parent Walmart admitted as it released first quarter results, with the UK division seeing declines in traffic and food volumes.
Ferrexpo shares sag after news of overdue $10m VAT receivable
Shares in Ferrexpo were down almost 6% as investors in the the iron-ore pellet producer soured following news it has an overdue $10 million VAT receivable that was due for repayment at end-April.
Credit Suisse slashes Thomas Cook price target on geopolitical pressures
Credit Suisse slashed its target price on shares of Thomas Cook as a result of the toll which geopolitical pressures were taking on the company's bookings.
Tobacco companies lose High Court challenge over plain packaging
Tobacco firms have lost a High Court challenge against the government’s new plain packaging rules, which are due to kick in on Friday.
Charles Stanley downgrades Royal Dutch Shell to hold
Royal Dutch Shell's latest set of full-year numbers, but cash flow was weak, Charles Stanley analyst Tony Shepard said ahead of the oil major's Capital Markets Day.
Rolls-Royce slides on SFO reports
Shares in Rolls-Royce were sliding downwards on Thursday morning, after reports emerged that the Serious Fraud Office has widened the scope of its investigation into the aerospace engineering firm.
Travel stocks hit after Egypt-bound flight goes missing, crash presumed
EgyptAir Paris to Cairo flight MS804 disappeared from air-traffic controllers's radar screens shortly after the aircraft entered the latter Mediterranean country's airspace early on Thursday morning, with international authorities loathe to jump to any conclusions before an investigation was conducted.
Brewin Dolphin funds perform well, earnings slide
Investment management firm Brewin Dolphin reported a 2. 5% uptick in total funds in its first half on Thursday, to £32. 8bn, though the costs of business restructuring seriously ate into its profits.
Europe midday: Stocks extend losses, with miners under the cosh
European stocks extended losses as investors digested the release of hawkish Federal Reserve minutes, with basic resources under the cosh as the dollar gained ground.
London midday: Stocks drop on hawkish FOMC meeting minutes
London stocks slid on Thursday as the Federal Reserve’s hawkish policy meeting minutes overshadowed a better-than-expected UK retail sales report.
Grainger posts rise in first-half profit, sees FY profit ahead
FTSE 250 residential landlord Grainger reported a rise in first-half profit and said recurring profit for the full year is likely to be ahead of management expectations.
Mitchells & Butlers lifts profits as pub refurb plan kicks off
Mitchells & Butlers served up improved first-half profits despite sales falling as the group looks to freshen up its under-invested pub estate with a major refurbishment plan.
US pre-open: Stocks seen lower on hawkish Fed
US futures pointed to a slightly weaker open on Wall Street as investors continued to mull the possibility of a rate hike as early as next month following Wednesday’s hawkish Federal Reserve minutes.
Bayer confirms takeover talks with Monsanto
Shares in Bayer tumbled on Thursday after the German pharmaceuticals group confirmed it was in takeover talks with US seed giant Monsanto.
Going long FTSE 100 versus 250 may be a hedge on Brexit, says Credit Suisse
Going long the FTSE 100 relative to the FTSE 250 is a potential hedge on a Brexit, said Credit Suisse, adding that it would be cautious of sterling heading into the 23 June referendum.