Market Pulse
K3 Business Technology buys Merac for £1.27m
K3 Business Technology, a software provider to the retail, manufacturing and distribution sectors, has bought Merac for £1. 27m, to enhance its presence in the leisure and visitor attractions sector.
Nigel Farage quits as Ukip leader
Nigel Farage has resigned as the leader of the UK Independence Party.
S&P expects Brexit to result in strong headwinds for UK
Brexit would result in very strongheadwinds for the UK economy, which would only barely manage to avoid a full-fledged recession, one of the world´s most influential ratings agency said.
WPP's Kantar signs agreement with Iran's Rahbar Bazaar
Advertising giant WPP’s data investment subsidiary Kantar signed an agreement with Iran’s Rahbar Bazaar Market Research Institute on Monday, to give it a foothold in the Iranian market.
Europe midday: Stocks nudge lower amid downbeat data
European stocks edged lower on Monday amid low volumes due to the US Independence Day holiday, as investors continued to mull over the implications of Britain’s decision to leave the European Union.
London midday: Stocks waver as investors continue to weigh post-Brexit risks
London stocks wavered on Monday as expectations grew over central bank intervention to quell the post-Brexit impact.
Osborne to cut corporation tax to below 15%
Chancellor George Osborne plans to cut corporation tax to ensure businesses keep investing in the UK after it opted to leave the European Union.
Sainsbury's and Dansk Supermarked end Netto JV
Sainsbury’s and Dansk Supermarked Group said on Monday that following a comprehensive review, they will end their joint venture of trial Netto UK stores that was launched in June 2014.
Barclays downgrades MoneySupermarket and Rightmove
Barclays downgraded its recommendation on shares of MoneySupermarket and Rightmove following the "jolt" of the UK referendum and after adjusting its forecasts for European Media companies based on its new assumptions for FX rates and lower macroeconomic assumptions.
Law firm Mishcon de Reya launches Brexit challenge
Law firm Mishcon de Reya has been retained by an unnamed group of clients to ensure the UK government does not trigger the procedure for withdrawal from the European Union without the approval of Parliament.
Brexit Britain won't work as tax haven, says OECD
As Chancellor George Osborne proposed to slash corporation tax, a memo by a body which drafts international tax rules revealed that the UK is unlikely to entice business by becoming a tax haven post-Brexit.
IAG's 'buy' rating reiterated but target price cut by UBS
International Consolidated Airlines (IAG) was in the red on Monday after UBS slashed its target price to 475p from 800p.
Credit Suisse upgrades BP, broker says dividend somewhat de-risked
Analysts at Credit Suisse upgraded their view on shares of BP after revising their projections for sterling and given the progress made on capital productivity and efficiency, which in turn meant the sustainability of the dividend had been somewhat de-risked, among other things.
ECB asks Monte dei Paschi to cut non-performing loans
News that the European Central Bank had asked Italian lender Monte dei Paschi di Siena to submit plans to reduce its non-performing loans weighed on the wider sector.
Asia report: Markets up after inconclusive Australia election
Asian markets closed higher on Monday, with Australian shares advancing even in the wake of an uncertain federal election outcome.
Investec cuts HSBC to 'sell' from 'hold'
Investec downgraded HSBC to ‘sell’ from ‘hold’ and cut the price target to 425p from 450p.
Moneysupermarket tumbles on Barclays downgrade
Shares in Moneysupermarket. com tumbled on Monday after Barclays downgraded the price comparison website to ‘equalweight’ from ‘overweight’ and slashed the price target to 260p from 390p.
ECR Minerals raises £350,000 after placing 3.5bn shares
ECR Minerals, a mineral mining company, said on Monday they raised £350,000 after placing 3. 5bn ordinary shares.
Goldman Sachs adds BAE Systems to Conviction List
Goldman Sachs added buy-rated BAE Systems to its Conviction List, saying the defence outlook was improving and the company should enter a phase of 4%-6% per annum organic revenue growth from 2017.
Europe open: Stocks little changed; Italian banks tumble
European stocks were little changed early on Monday as investors continued to mull over the implications of Britain’s decision to leave the European Union, with trade expected to be quieter than usual as US markets will be closed for Independence Day.