Market Pulse
Barclays upgrades Thomas Cook, says may have reached inflection point
Barclays upgraded Thomas Cook to ‘overweight’ from ‘equalweight’ and upped the price target to 90p from 75p following the company’s full-year results on Wednesday.
Direct Line rallies on Morgan Stanley upgrade
Direct Line got a boost on Thursday as Morgan Stanley upgraded the stock to ‘overweight’ from ‘equalweight’ and lifted the price target to 465p from 414p.
Europe open: Stocks edge higher; German Ifo due
European stocks edged higher in early trade, taking their cue from an upbeat session in the US, where the Dow and the S&P 500 hit record highs again, but volumes were expected to be lighter than usual as traders across the pond take a break for Thanksgiving.
L&G sells Dutch arm to Chesnara for €160m
Legal & General has agreed to sell its Netherlands business to London-listed pensions firm Chesnara for €160m (£135. 6m), the latest disposal from the insurer as it looks to consolidate its overseas operations.
London open: Stocks nudge lower; Countrywide slumps again
Stocks in London were just a touch weaker at the start of what’s expected to be a fairly quiet day, with traders across the pond celebrating Thanksgiving.
Rio Tinto may cut iron ore output as it targets $5bn cash flow boost
Tying in with Chancellor Philip Hammond's quest to boost British productivity, Rio Tinto chief executive Jean-Sébastien Jacques said the mining giant can boost cash flow by $5m over the next five years via a new "productivity drive".
Domino's ups UK store target, reiterates 2016 profit guidance
Domino’s Pizza increased its long-term target for expanding its UK store presence on Thursday as it reiterated its guidance for 2016 pre-tax profit.
London pre-open: Stocks set for muted open as US celebrates Thanksgiving
Stocks in London were set for a muted open on Thursday, with volumes likely to be lower than usual as traders across the pond celebrate Thanksgiving.
Thursday newspaper round-up: Autumn Statement, insurers, Barclays, EDF
Philip Hammond delivered his Autumn Statement bearing the scars of Brexit, but determined not to submit meekly to projections of a weaker economy and public finances. The chancellor’s strategy raised four important economic questions. What is the likely cost of Brexit? How much headroom has Mr Hammond created for the years ahead? Will he achieve his ambition to improve housing, productivity and regional imbalances? And what is the lasting effect of the vote to leave the EU? – Financial Times.