Market Pulse
Elementis' earnings for the year to be in line with expectations
Chemicals company Elementis’ sales for speciality products rose in the third quarter but the chromium business remained “challenging”, while overall earnings for the year are anticipated to be in line with market expectations.
Morgan Stanley downgrades Unite, says student numbers set to drop
Morgan Stanley downgraded its stance on Unite Group to ‘underweight’ from ‘overweight’ and cut the price target to 590p from 700p.
Andalas Energy posts much wider loss as it pivots focus
Indonesia-focused upstream oil, gas and power company Andalas Energy and Power announced its preliminary results for the year ending 30 April on Friday, a year in which it transitioned its focus towards Indonesia, targeting opportunities arising from the country’s electrification shortage.
Rio Tinto signs non-binding deal to sell Simandou stake to Chinalco
Rio Tinto has signed a non-binding agreement to sell its entire stake in the Simandou project in Guinea to Chinalco.
US pre-open: Stocks seen flat to slightly lower as GDP eyed
US futures pointed to a flat to slightly lower start on Wall Street as investors eyed the preliminary release of US gross domestic product figures for the third quarter.
VinaCapital grows net asset value in booming Vietnam
VinaCapital Vietnam Opportunity Fund posted its annual financial report for the year to 30 June on Friday, with total net assets at year-end of $786. 54m, up from $718. 66m a year earlier.
Amazon shares plummet afterhours due to earnings miss
Shares in ecommerce giant Amazon plunged by as much as 6. 8% in after-hours trading in New York on Thursday after the company fell well below analyst estimates for its third quarter earnings.
Asia report: Markets mixed on weak Japan data
Markets in Asia finished mixed on Friday, with a tsunami of earnings and economic data for investors to sift through.
Electrocomponents boosted by Liberum upgrade
Electrocomponents got a boost on Friday as Liberum initiated coverage of the stock at ‘buy’ with a 420p price target, which implies total return potential of 18%.
Europe open: Stocks in the red as investors digest earnings
European stocks fell in early trade as investors sifted through more earnings releases.
Morgan Advanced Materials raises $112m and €60m in private placement
Morgan Advanced Materials announced on Friday that it has raised $112m and €60m with the completion of a US private placement.
London open: Stocks in the red but RBS bucks the trend
London stocks fell in early trade as investors digested some uninspiring consumer confidence data, although Royal Bank of Scotland was a bright spot after a third-quarter update.
Smiths Group to de-risk pension libalities with £250m buy-in deal
FTSE 100 engineer Smiths Group is to de-risk its pension liabilities further with a £250m bulk buy-in agreement with an insurer.
RBS reports third-quarter loss
Royal Bank of Scotland swung to a loss in the third quarter, as it took a hit from litigation and restructuring costs.
Tullow Oil secures $345m loan
Tullow Oil has received a $345m loan to cover April's scheduled amortisation and ensure the company has enough headroom throughout 2017 as it refinances its bank facilities.
IAG operating profit flies lower in third quarter
International Consolidated Airlines Group posted its group consolidated results for the nine months to 30 September on Friday, with third quarter operating profit €1. 21bn before exceptional items, down from €1. 25bn a year ago.
London pre-open: Stocks seen lower ahead of US GDP
London stocks were set for a weaker open on Friday as investors looked ahead to some key US economic growth figures.
Friday newspaper round-up: nuclear power, Brexit, pensions
Deepening problems in France’s nuclear power sector are threatening to increase energy bills for UK consumers this winter because of a squeeze on the supply of imported electricity. Safety concerns over the resilience of certain components has led to the shutdown of several French reactors, cutting the amount of French electricity available for export across the English channel. Britain has relied on imports for more than 7 per cent of its electricity so far this year, most of it through subsea interconnectors with the French and Dutch power grids.