Market Pulse
London open: Stocks in the red as investors eye OPEC
Stocks in London were weaker at the open, taking their cue from a downbeat session in Asia as investors looked ahead to this week’s OPEC meeting in Algeria and a debate later in the day between Hillary Clinton and Donald Trump.
Capco raises £175m from bond placing
Capital & Counties Properties’ (Capco) subsidiary Covent Garden Holdings has raised £175m from an agreed placing of long-term notes with five US investors in order to beef up its balance sheet and repay debt.
Goldman cuts Lloyds to 'sell' on competition, low rates
Goldman Sachs cut its stance on Lloyds Banking Group to ‘sell’ from ‘neutral’ and trimmed the price target 6% to 50p as it pointed to increased competition and low rates.
RBC Capital downgrades Hays to 'sector perform'
RBC Capital Markets downgraded recruiter Hays to ‘sector perform’ from ‘outperform’ as the stock has performed well and is now near its 140p price target.
Lamprell wins new contract worth $90m
Oil services group Lamprell has won a contract worth around $90m from Master Marine subsidiary Jacktel AS for the upgrade of the mobile operating unit ‘Haven’ as an accommodation service vessel for the Statoil Johan Sverdrup field, offshore Norway.
Monarch Airlines denies Twitter-based insolvency rumours
Holiday carrier Monarch Airlines was working to reassure customers and the market that it was fully operational on Monday morning, after widespread speculation over the weekend that it was going over the brink.
London pre-open: Stocks seen weaker as OPEC, US election eyed
Stocks in London were expected to open on the back foot as investors looked ahead to this week’s OPEC meeting in Algeria and a debate later in the day between Hillary Clinton and Donald Trump.
Monday newspaper round-up: Hard Brexit, City worries, mobile claim, Tesco
Senior financiers are alarmed at growing political momentum behind a so-called “hard Brexit” that they fear will erode business confidence, trigger corporate departures and damage the City of London. Leading bankers who have held talks with government ministers have told the Financial Times they believe Theresa May, the prime minister, will end up taking Britain out of the EU’s single market and customs union. - Financial Times.