Market Pulse
Verona Pharma secures funding for drug trial
Shares in AIM-listed Verona Pharma rallied on Monday as the drug development company it had successfully secured funding commitments to raise gross proceeds of around £44. 7m through a conditional placing that was significantly oversubscribed.
Gusbourne CEO Ben Walgate resigns
AIM-listed Gusbourne announced the resignation of Ben Walgate as director and chief executive officer after nearly four years with the wine producer.
Mercia Technologies gains four new university partnerships
Mercia Technologies, a technology investment firm, has partnered with four universities in Scotland and the north of England to access promising early-stage investments for its technology transfer team.
Europe midday: Stocks push higher as Brexit fears recede; banks shine
European stocks racked up stellar gains on Monday, with banks in the lead as the latest EU referendum polls revealed a shift in support.
BP accelerates Egypt's Atoll gas project
BP has decided to go accelerate development of its wholly owned Atoll gas project in Egypt, which will begin to flow in the first half of 2018.
Defensives set to continue leading the market after referendum
The result of the 23 June referendum on the UK's future within the European Union was the 'wildcard' for the short-term performance of equities, but in the medium-term the move lower in sovereign bond yields would continue to constrain 'cyclicals', JP Morgan said.
US pre-open: Strong gains expected as Brexit polls show swing in favour of Remain
US futures pointed to a sharply higher open on Wall Street as the most recent polls suggested voters in the UK were leaning towards a vote to remain in the European Union at Thursday’s referendum.
Asia report: Markets rise as Brexit fears ease
Markets in Asia closed higher on Monday as sterling gained strength, with Brexit concerns easing over the weekend with a number of polls showing renewed momentum for the Remain camp ahead of Thursday’s referendum.
Rolls Royce may stand most to gain from weakness in pound, JP Morgan says
Rolls Royce might be the UK's aerospace&defence stock which stood the most to gain in the case of Brexit and the weakness in the pound which would ensue, according to analysts at JP Morgan.
Gemfields' Mozambique ruby auction raises $44.3m
Gemfields, a British supplier of responsibly sourced coloured gemstones, reported record total revenues of $44. 3m at a recent auction of rough rubies in Singapore as the increasing quality of Mozambique gems attracts growing demand.
Recent ASOS weakness is buying opportunity, says RBC Capital
RBC Capital Markets reiterated its ‘outperform’ stance and 4,500p price target on online fashion retailer ASOS, saying the recent share price weakness was a buying opportunity.
ITV, Wolseley are Liberum's top-picks in case of Bremain, Brexit
Depending on whether the UK finally decided to 'Remain' or 'Leave' then different London-listed securities were likelier to 'outperform' their respective sectors, Liberum said.
Citi upgrades Inmarsat; says it's oversold and Brexit resistent
Citigroup upgraded Inmarsat to ‘buy’ from ‘neutral’ saying it was oversold and Brexit resistent, and lifted the price target to 900p from 880p due to the new GBP/USD exchange rate.
Royal Mail buys Spanish parcels firm
The Spanish subsidiary of Royal Mail’s European parcels business, General Logistics Systems (GLS), has bought Spanish express parcels delivery company, ASM Transporte Urgente (ASM) for €71m.
Japanese exports decline by more than expected in May
Japan's trade with the rest of the world was weaker than expected in May, with exports to China, Europe and the US all flagging.
Cobham rallies on BofA Merrill Lynch upgrade to 'buy'
Aerospace and defence group Cobham got a boost on Monday as Bank of America Merrill Lynch upgraded the stock to ‘ buy’ from ‘neutral’ noting the balance sheet was reset and the valuation is attractive for a defence asset.
Monday brings more misery for Govia commuters
Monday saw another morning of misery for commuters served by Govia, as a broken down train sparked delays on Southeastern services.
Majestic Wine FY profit hit by Naked Wines acquisition
Majestic Wine posted a big drop in full-year profit despite a surge in revenue, as the acquisition of Naked Wines hit profitability.
Europe open: Stocks rally as Brexit fears recede
European stocks rallied in early trade, with banks pacing the advance as the latest EU referendum polls revealed a shift in support.
Banks too 'scissor-happy' with Isa rates
Isa providers were described as “scissor-happy” over savers’ rates on Monday, as consumer lobby group Which? singled out the worst offenders when it comes to rate cuts.