Market Pulse
Clinigen Group issues 38k option shares
Clinigen Group announced on Friday that it has made an application for the admission to trading on AIM of 38,308 ordinary shares of 0. 1p each.
Volvo aiming to sell self-driving technology cars by 2021
Volvo Car Group is joining the race to advent self-driving technology in cars, as it targets 2021 as the year it will be able to sell a model with such a device.
FCA review finds 'significant shortcomings' among insurance agents
The Financial Conduct Authority said on Friday that it has found “significant shortcomings” in the control and oversight of appointed representatives by their principal firms in the general insurance sector.
Apple Watch sales down ahead of next generation release
Shipments of Apple Watches declined 55% year-over-year in the second quarter, as the release of a second generation of the technology is due to come later this year.
Markit's flash UK PMI shows steepest contraction since early 2009
The latest data from Markit released on Friday showed the UK economy contracted at its steepest pace since early 2009 in July.
Asia report: Markets close lower, while Pokemon keeps Nintendo's fires burning
Markets in Asia slipped on Friday, though Japan’s flavour of the month Nintendo joining McDonald’s on the upside after the pair joined forces in finally launching hit mobile game Pokemon Go in the country.
Amazon team up with Wells Fargo in student loans deal
E-commerce company Amazon has teamed up with United States bank Wells Fargo, with the bank offering discounts and lower interest rates on student loans for those who use the company's Prime Student services.
Beazley posts drop in first-half profit
Lloyd’s of London insurer Beazley posted a drop in first-half pre-tax profit as premium rates declined, although the figure was still better than expected, and the company said Brexit was unlikely to have a material impact.
Investec downgrades EasyJet after Q3 update
Investec downgraded EasyJet to ‘hold’ from ‘buy’ as it cut the price target to 1,100p from 2,050p to reflect the revised outlook following the airline’s third-quarter update on Thursday.
Europe open: Stocks little changed as investors eye PMIs
European stocks were little changed in early trade following downbeat US and Asian sessions as investors continued to digest Thursday’s European Central Bank rate announcement.
Big Yellow sees occupancy and revenue improve in first quarter
Self storage company Big Yellow Group posted a trading update for its first quarter to 30 June on Friday, reporting a 3% rise in its lettable area to 4. 55m square feet.
Marks & Spencer shares hit by Barclays downgrade
Marks & Spencer was under pressure on Friday after Barclays downgraded the stock to ‘underweight’ from ‘equalweight’ and slashed the price target to 290p from 410p saying things were likely to get worse before they get better under the new turnaround plan.
London open: Stocks slip ahead of PMIs
Stocks in London edged lower in early trade as investors awaited the release of the UK manufacturing and services purchasing managers’ index.
Sainsbury's £1.4bn Home Retail acquisition gets CMA approval
The £1. 4bn combination of Sainsbury's and Argos owner Home Retail Group was a step closer on Friday, with the Competition and Markets Authority dropping its investigation and allowing the acquisition by the supermarket to proceed.
Electra Private Equity appoints Thomas Cook exec to new CFO role
Electra Private Equity has appointed Gavin Manson to the new role of chief financial officer with effect from 8 August.
London pre-open: Stocks seen weaker ahead of PMIs
London stocks were expected to open lower on Friday ahead of a slew of PMI surveys.
Friday newspaper round-up: HSBC, Sports Direct, mobile banking
The former HSBC currency trader at the heart of a US fraud investigation spent more than two years on a panel that advised the Bank of England, it has emerged, as the Department of Justice widens its probe to examine more currency trades. Stuart Scott, who left HSBC in late 2014, has “strongly denied” allegations that he ramped up the price of the pound ahead of a $3. 5bn (£2. 7bn) currency deal for the oil firm Cairn. A warrant was out for the British trader’s arrest yesterday after his former colleague Mark Johnson, HSBC’s global head of foreign exchange, was freed on $1m bail in New York.
CRH lifts first-half earnings estimate by EUR 100m
CRH lifted its earnings estimate on Friday, as a result of exceptional trading in the second quarter.
US close: Markets close lower amid slew of earnings
Stocks in the US finished Thursday lower, with the Dow breaking its nine-day winning streak, as oil prices fell and the market looked towards the Federal Reserve meeting next week.