Market Pulse
Europe close: Stocks gain after Yellen
Stocks were mostly higher even after US central bank chief flagged a higher likelihood that a rate hike was on the cards next month.
Global uncertainties surrounding Trump victory, says Fitch
Donald Trump’s victory in the US elections has cast a shadow of uncertainty over future US policy and other sovereigns, according to a report by Fitch Ratings on Thursday.
FX roundup: Sterling, dollar mildly higher after hawkish Yellen speaks
Sterling was mildly higher Thursday afternoon on most major crosses after US Federal Reserve chair Janet Yellen hawkishly said the central bank needed to be forward looking when setting policy.
Goldman Sachs upgrades Microsoft on basis of strong cloud services
Analysts at Goldman Sachs have encouraged investors to buy Microsoft on the strength of its cloud software business, which the investment bank says will boost its earnings in years to come.
Commodities: Crude lumbers ahead on renewed hopes of OPEC production deal
Crude oil futures nipped higher on Thursday afternoon as hopes took hold in the market that OPEC will strike a production deal at its November meeting in Vienna.
Director dealings: Man CFO lops off chunk of hedge fund manager
Man Group chief financial officer Jonathan Sorrell sold £802,000 worth of shares in the hedge fund manager on Thursday.
Wal-Mart sees fall in profit but edges upwards with sales
Profits at Wal-Mart Stores fell 8. 2% compared with the same quarter last year as the company invests heavily in boosting its e-commerce operations to compete with the likes of Amazon.
Results round-up
Royal Mail’s half year revenue increased slightly thanks to its European business, while the FTSE 100 company gears up for the all-important Christmas period by upping its cost saving targets.
US open: Markets mostly higher with December rate hike in the offing
US equity markets were mostly higher on Thursday as investors largely shrugged off Reserve chair Janet Yellen all but confirming a December rate hike in her testimony to Congress.
Ocorian finally completes Billington share sell-off
Billington Holdings confirmed on Thursday that it has received notice that Ocorian - formerly known as Bedell Trustees - as trustee for the Billington Holdings Plc Employee Share Ownership Trust has disposed of 170,993 ordinary shares at a price of £2. 05.
GCM Resources widens losses in another year of nil revenue
Resource exploration and development company GCM Resources reported its preliminary results for the year to 30 June on Thursday, with exploration and evaluation costs almost halving from last year, to £0. 04m from £0. 08m.
Dart Group takes off on stronger package holiday sales
Dart Group reported better than expected interim results and was optimistic it will slightly exceed full year forecasts, as strong growth in its Jet2 package holiday business offset lower profits from its distribution and logistics arm.
FTSE 250 movers: Vectura jumps but ex-divs hit Lancashire and Redefine
London’s FTSE 250 index was up 0. 5% to 17,552. 91 in afternoon trade.
Koovs completes £12.9m fundraise early
India-focused online fashion retailer Koovs confirmed the completion of £12. 9m funding on Thursday, including a strategic investment of £3. 9m from The Times of India Group, £7m from new and existing investors and the early closure of the broker option due to excess demand.
Morgan Stanley lowers TUI price target on cash flow fears
Morgan Stanley downgraded TUI to 'equalweight' as it expects the travel group's heavy investment programme will dilute cash flow and earnings per share.
FTSE 100 movers: CRH gains on results but Royal Mail fails to deliver
London’s FTSE 100 index was up 0. 4% to 6,778. 66 in afternoon trade.
HgCapital injects undisclosed sum into fundinfo
HgCapital announced a significant investment in fundinfo on Thursday, which it described as a leading technology platform for fund data and documents publication and dissemination to the global fund industry, headquartered in Zurich.
BoE needs more political support and accountability, says Ed Balls
In order to protect the Bank of England’s independence, the central bank needs more political support and accountability, Ed Balls said on Thursday.
US Philly Fed index misses forecasts, details of report more solid
A key measure of factory activity in the US mid-Atlantic region undershot market expectations slightly in November, but the details of the report were more robust, especially those refrencing price pressures and companies´ ability to set the same.
NAHL slides despite confidence over government whiplash claims inquiry
Shares in NAHL Group were hit by the government's confirmation that it plans to clamp down on whiplash compensation and limit other small claims.