Market Pulse
FX roundup: Sterling, dollar barely moved
Sterling and the US dollar were barely moved on most major crosses as traders in the US took pause for Thanksgiving festivities, although the greenback's turns on Japan's yen and Turkey's lira were mild exceptions to the rule.
Wages to remain stagnant for a decade, says IFS
Workers are facing the “dreadful” prospect of not experiencing any wage growth for more than a decade according to the Institute for Fiscal Studies.
Europe close: Stocks edge higher on thin trading volumes
European stocks edged higher amid lower than usual volumes as traders stateside took a break for Thanksgiving.
Friday preview: Week set to end on a quiet note
A second reading on third quarter gross domestic product and the Confederation of British Industry´s Distributive Trades Survey would be the focus in UK markets on Friday.
Director dealings: AB Foods chairman tucks in
With shares in Associated British Foods chairman trading only a little higher than their three-year lows, chairman Charles Sinclair dipped into the market to buy some shares in the Primark owner on Thursday.
Commodities: Crude futures mildly ahead in subdued Thanksgiving trade
Crude-oil futures were appreciating mildly on Thursday afternoon with the Thanksgiving holiday in the US resulting in overall subdued activity across the commodities boards.
Infrastructure spending good for housebuilders, contractors, bad for letting agents
Funding outlined in the Autumn Statement could be good for alternative housing providers, contractors, but potentially problematic for mainstream housebuilders, and bad for letting agents, according to broker Stockdale.
Scisys buys Germany´s Annova Sytems for £9.7m
Software company Scisys bought Munich-based Annova Systems, a software provider for €11. 35m (£9. 7m) which puts it in “a stronger market position” across Europe.
Potential for abrupt reversal in risk remains significant, ECB says
Euro area systemic stress has remained relatively low over the past six months, despite bouts of market turbulence, the European Central Bank said.
FTSE 250 movers: Domino's serves up tasty update; Countrywide tanks again
London’s FTSE 250 was down 0. 4% to 17,546. 37 in afternoon trade.
Countrywide tumbles to new low on Brexit profit warning
Estate agent Countrywide warned that operating profits will be lower than expected for the full year, due to a “tough” residential market as a result of a change in stamp duty and the EU referendum.
Results round-up
Water company Severn Trent said interim profits before interest and tax rose 10. 8% to £299. 4m.
FTSE 100 movers: Direct Line gains on MS upgrade; ex-divs weigh
London’s FTSE 100 was down 0. 1% to 6,812. 69 in afternoon trade.
BoA Merrill downgrades Paragon on valuation
Bank of America Merrill Lynch downgraded Paragon Group to ‘underperform’ from ‘neutral’ on valuation grounds.
SolarCity deal 'zero value' for Tesla, according to Morgan Stanley
US investment bank Morgan Stanley said there is no value attached to Tesla's acquisition of SolarCity, which was approved earlier this month by shareholders in Elon Musk's company despite strong criticism of the deal.
Draper Esprit buys stake in Elderstreet Holdings
Venture capital firm Draper Esprit has bought a stake in trust manager Elderstreet Holdings for an undisclosed fee, in order to gain access to high growth technology companies through a range of finance vehicles.
Quixant on the up as profit, revenue to be ahead of expectations
Quixant shares rose as the provider of technology products said full-year profit and revenue are likely to be higher than initially expected.
Unseen debts may derail UK bus and rail bidding plans
Some big changes may be coming to the way companies bid for big UK rail and bus franchises, HSBC has predicted.
London midday: Stocks drift lower as investors mull risks
UK stocks were edging just slighly lower in light trading conditions amid the US Thanksgiving Day break.
Dee Valley switches to Severn Trent bid, gazumping Ancala again
Water company Dee Valley will recommend to shareholders accept a new £84m a revised bid made by FTSE 100-listed Severn Trent overnight, leaving investment company Ancala Fornia gazumped again.