Market Pulse
JPMorgan upgrades Marks & Spencer to ‘overweight’
JPMorgan Cazenove upgraded Marks & Spencer on Thursday to ‘overweight’ from ‘neutral’ and lifted the price target to 330p from 260p as it took a look at European general retail.
Asia report: Markets mostly lower after US inflation print
Asia-Pacific markets mostly dipped on Thursday following the release of higher-than-anticipated US inflation data for March overnight.
Atalaya confident despite some first-quarter weakness
Atalaya Mining updated the market on its operations in the first quarter on Thursday, reporting that ore mined reached 3. 7 million tonnes, marking a slight increase from the prior year.
PetroTal production meets guidance in first quarter
PetroTal said in an update on Thursday that its average production in the first quarter was 18,518 barrels of oil per day, consistent with its guidance.
M&C Saatchi appoints two new global creative chiefs
M&C Saatchi announced the appointment of Rob Doubal and Laurence Thomson as its new joint global chief creative officers (CCOs) on Thursday.
Mears FY profits up more than a third
Housing services business Mears Group stated both revenue and profits improved in 2023 and said it expects to deliver another "strong" in FY24.
Belgium's Shurgard to buy Lok'nStore in £378m deal
Self-storage firm Lok'nStore said on Thursday that it has agreed to be bought by Belgian rival Shurgard in a £378m deal.
HSBC upgrades Kingfisher to 'buy'
HSBC upgraded B&Q and Castorama owner Kingfisher on Thursday to ‘buy’ from ‘hold’ and lifted the price target to 305p from 235p.
Revolution Bars proposes restructuring, eyes £12.5m equity raise
Bar and gastro pub operator Revolution Bars has proposed a restructuring of the group, which would involve the shuttering of several sites, rent reductions, and an equity raise of up to £12. 5m featuring new and existing investors.
London open: FTSE nudges up ahead of ECB, US PPI
London stocks nudged up in early trade on Thursday ahead of the latest policy announcement from the European Central Bank and PPI reading in the US, as investors continued to mull the impact of the hotter-than-expected US inflation print.
Darktrace lifts, focuses full-year guidance
Cybersecurity specialist Darktrace reported solid growth in both operating and financial metrics in the March quarter on Thursday, as it raised its full-year guidance.
SocGen to sell professional equipment financing business for €1.1bn
Societe Generale said on Thursday that it has agreed to sell its professional equipment financing businesses to Groupe BPCE for €1. 1bn.
London pre-open: Stocks seen up as investors eyed ECB
London stocks were set to rise on Thursday ahead of the latest policy announcement from the European Central Bank and PPI reading in the US, as investors continued to mull the impact of a hotter-than-expected US inflation print a day earlier.
Thursday newspaper round-up: Border controls, McKinsey, KPMG
New post-Brexit UK border controls coming into force later this month will cost British businesses £2bn and fuel higher inflation, according to a report warning that UK-EU trade will be damaged as a result. With less than a month before the introduction of new checks on animal and plant products from 30 April, the insurer Allianz Trade said the controls agreed under Boris Johnson’s Brexit deal could add 10% to import costs over the first year. – Guardian.
US close: Stocks lower following hotter-than-expected CPI reading
Wall Street stocks closed sharply lower on Wednesday as market participants digested a hotter-than-expected March consumer price index.