Market Pulse
Directors dealings: Real estate sector execs pick up shares
Friday's sharp drops among shares of UK homebuilders and real estate outfits saw executives from several outfits step-in to pick-up some shares.
UK could fall into a recession after Brexit, say economists
The UK could fall into a recession forcing the Bank of England to ease monetary policy further after the country voted for Brexit on Friday, according to a Reuters poll of economists.
Week ahead: Brexit to continue in the spotlight
Markets were expected to be on post-Brexit watch, with some market-watchers wary of the potential for further market volatility.
Europe close: Stocks tumble after Brexit vote; FTSE outperforms
The UK’s vote to leave the European Union sparked a bloodbath in European equity markets on Friday, sending the pound tumbling against the dollar and weighing on oil prices, while gilts and gold surged as investors fled to safety.
Norges Bank takes stake in Intermediate Capital Group below 3.0%
Norges Bank notified markets on Friday that it had sold 115,616 shares in specialist asset manager Intermediate Capital Group, taking its stake below the 3. 0% threshold.
Funding Circle SME Income Fund to raise cash amid strong demand
Funding Circle SME Income Fund, a close-ended investment company, announced it had already deployed the majority of its assets and said it would raise cash via the sale of C shares in response to encouraging demand from prospective investors.
IG Group says it managed Brexit exposure "very effectively"; trading in line
Financial spreadbetting firm IG Group said it managed its operations and exposure “very effectively” through Thursday night and into Friday as the UK voted in the EU referendum.
US consumer confidence dips in June, University of Michigan says
US consumer sentiment dipped by a little bit more than economists had been expecting in June, but the data continued to point to a moderate rate of growth in consumer spending, according to the results of one of the most widely followed surveys.
FTSE 250 movers: Challenger banks drop; gold stocks rally
London’s FTSE 250 index was down 7% to 16,124. 88 in afternoon trade, underperforming the top-flight index after the UK voted to leave the European Union.
Broker tips: Sophos Group, IAG, Next, M&S
Numis sounded an optimistic note on Sophos Group ahead of the company's Capital Markets Day, pointing to the firm's strong products, a substantial market opportunity and the attractive cash flow yield on offer to back up its arguments.
Numis sees possible share price catalyst on the horizon for Sophos Group
Numis sounded an optimistic note on Sophos Group ahead of the company's Capital Markets Day, pointing to the firm's strong products, a substantial market opportunity and the attractive cash flow yield on offer to back up its arguments.
US open: Equity markets slump on Brexit vote
Stocks on Wall Street fell sharply on Friday as investors reacted to news that UK voters had opted to leave the European Union.
FTSE 100 movers: Housebuilders, banks tumble; Randgold shines
The FTSE 100 was down 3. 5% to 6,114. 73 in afternoon trading, still firmly in the red but well off its earlier lows and outperforming European peers, as investors reacted to news that Britain has opted to leave the European Union.
Credit Suisse cuts targets on M&S and Next
Analysts at Credit Suisse slashed their target prices for Marks&Spencer and Next stock on the back of expectations for lowering economic growth in the UK and weakness in sterling.
Federal Reserve stands ready to provide liquidity if needed
The Federal Reserve was "monitoring developments" in global financial markets, in co-operation with other central banks, following the result of the UK's referendum, the US central bank said in a statement.
Private investors using Brexit selloff as buying opportunity, says Hargreaves Lansdown
Private investors are using Friday’s Brexit-fuelled stock market selloff as a buying opportunity, according to Hargreaves Lansdown’s senior analyst, Laith Khalaf.
RBC downgrades IAG on risk of greater economic uncertainty
Analysts at RBC downgraded their recommendation on shares of IAG, saying the company now faced economic and stranded capital risk.
US durable goods orders fall more than expected in May
A widely-followed lead indicator for spending on investment declined more sharply than expected in May, highlighting one of the main areas of weakness in the US economy currently, as referenced by policy-makers in their recent policy statements, but some economists were sanguine.
Sports Direct says Brexit volatility, weak pound to hit 2017 purchase prices
Sports Direct International said the outcome of the European Union referendum and ensuing market volatility – namely sterling weakness – will impact purchases for full-year 2017 for which the company is currently not hedged.
Proxama's losses widen; share placing announced
Mobile payments and marketing company Proxama reported a wider pre-tax loss in the year ending 31 December 2015, but revenue increased and the company announced plans for a £2m share placing.