Market Pulse
BofA - ML cuts miners, sees consolidation for banks and insurers
The move higher in equity markets was to continue but first investors would pause for breath following recent sharp moves, strategists at Bank of America-Merrill Lynch said.
FX roundup: Sterling rises on Trump win, hopes some MPs will vote against Brexit
Sterling pressed its foot to the floor on Friday and accelerated higher against most major crosses, helped in part by the US election result and obviously welcomed reports that some UK MPs are prepared to vote against triggering Brexit.
Directors dealings: BAE Systems director takes profits
BAE Systems's group director for business development took advantage of a two-day spike in the shares of the aerospace and defence engineer to take some profits.
Europe close: Shares end on mixed note, traders undecided
European stocks finished on a mixed note as markets took a breather, mimicking the price action over in the States.
S&P reaffirms Italian debt at BBB-, cuts GDP forecasts
Ratings agency Standard&Poor's cut its growth forecasts for Italy but reaffirmed its rating on the country's long-term debt.
US open: Stocks pause for breath, fund managers cautious
Stocks paused for breath following two days of sharp gains as analysts continued to adjust to the changing market landscape following the presidential election results.
FTSE 100 movers: Gold miners retreat as sterling rallies
London’s FTSE 100 fell 1. 41% in afternoon trade on Friday to 6,731. 87 as the pound rallied.
Commodities: Oil flops on production jitters as gold tumbles
Crude oil futures were firmly lower on Friday afternoon as OPEC revealed yet another spike in output for October, with safe-haven gold declining as US election uncertainties abate.
Mark Darby makes swift exit from Kellan
Kellan announced the resignation of Mark Darby as chief operations officer on Friday, with immediate effect.
Emerging market-focused stocks battered
Financials with exposure to emerging markets, such as StanChart, Aberdeen Asset Management and Ashmore Group were near the bottom of the pile, amid worries of capital outflows from emerging markets as US interest rates climbed higher, in part on the prospect for increased fiscal spending Stateside.
GCM Resources and China Gezhouba Engineering to work closer
Resource exploration and development company GCM Resources announced on Friday that a memorandum of understanding has been agreed with China Gezhouba Group International Engineering Company.
RedstoneConnect launches share-backed Save As You Earn scheme
Smart buildings and commercial spaces technology provider RedstoneConnect announced on Friday that it has launched a Save as You Earn share scheme for all employees.
Liberum upgrades Cranswick after recent share price decline
Liberum upgraded Cranswick to ‘buy’ from ‘hold’ saying the recent de-rating presents a good buying opportunity.
Results round-up
British Empire Trust posted its annual report for the 12 months to 30 September on Friday, with net asset value per share total return for the year of 31% and share price total return of 34. 3%.
Snoozebox reaches agreement with lenders on revised payments
Snoozebox Holdings updated the market on discussions it has held with its primary lender on Friday.
US consumer sentiment improves more than expected in November
Consumer sentiment in the US improved more than expected in November, hitting its highest level since mid-2016, according to data released on Friday.
FTSE 250 movers: Cranswick gains on upgrade; SIG tumbles
London’s FTSE 250 was down 1. 2% to 17,444. 99 in afternoon trade.
GAN pens deal with JACK Entertainment in Ohio
Enterprise-level B2B internet gaming software provider GAN announced on Friday that it has launched online ‘Simulated Gaming’ for JACK Entertainment in Ohio.
Trump briefly outlines plans to replace Obamacare
The Trump administration plans to work with Congress to repeal the Affordable Care Act put in place by Barack Obama, according to a document posted on the presidential transition website in which some of the main points were outlined.
Hard Brexit likely outcome from divorce with EU, says S&P
A hard Brexit is the most likely outcome of Britain's negotiations with the European Union, according to S&P Global Ratings on Friday.