Market Pulse
Defensives lead bounce in stocks
Defensive issues led the market’s bounce higher at the end of the week, with those sectors which stood to gain the most from a vote by Britons to remain in the UK pacing gains on the top flight index.
Europe close: Stocks bounce back led by defensive issues
European stocks rose on Friday, bouncing back from the Fed-fuelled losses of the previous session, led by gains in defensive issues such as health care stocks.
London close: Stocks finish higher as housebuilders rally
London stocks finished higher on Friday, supported by a pick-up in housebuilders as Brexit fears eased.
Directors dealings: Howden Joinery boss takes some money off the table
Howden Joinery’s chief cut his stake in the company even after it recently reported stable trading conditions over the first 16 weeks of 2016, assuaging some market watchers’ concerns that it might be impacted by the uncertainty surrounding the upcoming 23 June referendum on the UK’s membership of the European Union.
William Hill launches £350m corporate bond
William Hill announced the launch of a £350m corporate bond to institutional investors with a coupon of 4. 875% to refinance its existing debt and for general corporate purposes.
Bonds: Central banks looking to the medium-term
Bond markets were little changed on Thursday despite more hawkish than usual remarks from one of the US central bank's, the Federal Reserve, rate-setters this year.
US open: Stocks rebound as oil prices waver
US stocks rebounded on Friday from the previous day’s slump as investors’ nerves eased after the Federal Reserve’s hawkish meeting minutes.
US existing home sales rise more than expected in April
Sales of existing US homes rose 1. 7% in April to a seasonally-adjusted annual rate of 5. 45m from an upwardly-revised 5. 36m the previous month, according to data from the National Association of Realtors.
FTSE 250 movers: Ladbrokes rallies while Spectris trips
The FTSE 250 was solidly in the green in afternoon trading on Friday, taking its lead from a mining boost at its big brother the FTSE 100.
FTSE 100 movers: Coca-Cola rallies on Citi upgrade; housebuilders advance
London’s FTSE 100 was up 1. 5% to 6,143. 38 in afternoon trading, bouncing back from losses suffered in the previous session amid concerns the Federal Reserve might hike interest rates as early as June.
Hold onto defensive stocks, Citi says
Defensive stocks are expensive on some metrics after having outperformed the market by a wide margin since the 2007 but investors would be best advised to hold on to them, analysts at Citi said.
China New Energy says Sunbird close to getting Zambia approvals
China New Energy noted the jump in its share price on Friday and said its prospective partner, Sunbird Bioenergy Africa Limited is edging closer to getting the necessary approvals to begin a project in Zambia.
Coca-Cola HBC rallies on Citigroup upgrade
Beverage bottler Coca-Cola HBC shares jumped on Friday after Citigroup upgraded the stock to ‘buy’.
JPMorgan adds Shire to 'Analyst Focus List'
JPMorgan Cazenove lifted its price target on overweight-rated Shire to 5,600p from 5,300p and added the stock to its 'Analyst Focus List', saying the acquisition of US-based Baxalta builds a more sustainable company trading at a compelling valuation.
Market relieved by provisional CMA Ladbrokes-Coral findings
Investors were seemingly pleased with the provisional findings of the Competition and Markets Authority into the merger between bookmakers Ladbrokes and Gala Coral, with a smaller number of outlets needed to be sold than anticipated.
Europe midday: Stocks in the black as resources advance
European stocks rose on Friday, bouncing back from the Fed-fuelled losses of the previous session.
US pre-open: Stocks set for rebound
US futures pointed to a slightly firmer open on Wall Street following the recent Fed-fuelled losses.
London midday: Stocks lifted by rebound in miners
London stocks were given a boost by a rebound in mining shares on Friday as metal prices rose.
Asia report: Markets mainly positive, airlines suffer
Most markets in Asia ended Friday in the green, despite hawkish commentary from the US Federal Reserve flowing across the Pacific.