Market Pulse
US close: Stocks mixed following Dow's big day
Wall Street stocks delivered a mixed performance on Monday after a big day for the blue-chip Dow Jones in the previous session.
London close: Stocks end down as GSK tumbles on litigation woes
London stocks reversed earlier gains to end down on Monday, with GSK weighing heavily on the top-flight index on the back of the latest US court ruling on its heartburn drug Zantac.
Broker tips: AutoTrader, Pets At Home, National Grid, St James's Place, Quilter
Shore Capital has cut its recommendation for online car marketplace Auto Trader from 'hold' to 'sell', saying the stock's valuation is now stretched following a decent run in recent months.
Director dealings: Victrex CEO ups stake
Victrex revealed on Monday that chief executive officer Jakob Sigurdsson has acquired 3,000 ordinary shares in the London-listed polymer solutions business.
S&P US manufacturing PMI revised higher, ISM PMI edges lower
S&P Global's manufacturing index was revised higher to 51. 3 in May, up from a preliminary estimate of 50. 9 and last month's reading of 50.
Moody's lifts 2024 China growth forecast
Moody’s lifted its 2024 growth forecast for China on Monday to 4. 5% from 4% as it pointed out that first-quarter growth was boosted by trade and manufacturing activity.
FTSE 100 movers: JD Sports rallies; GSK hit by US Zantac ruling
London’s FTSE 100 was flat at 8,276. 38 in afternoon trade on Monday.
US open: Stocks mixed as oil prices fall
Wall Street trading got off to a mixed start on Monday after a big day for the blue-chip Dow Jones in the previous session.
Liberum upgrades Pets at Home to 'buy', shares surge
Pets at Home rallied on Monday as Liberum upgraded its stance on the shares to ‘buy’ from ‘hold’ and lifted the price target to 360p from 290p.
Frasers appoints former FRC, HMRC CEO Jon Thompson as non-exec
Mike Ashley’s Frasers Group said on Monday that it has appointed Sir Jon Thompson, former chief executive officer of the Financial Reporting Council, as a non-executive director.
US pre-open: Futures mixed as traders looks to build on last month's momentum
Wall Street futures were mixed ahead of the bell on Monday after a big day for the blue-chip Dow Jones in the previous session.
London midday: Stocks stay up but GSK tumbles on Zantac court ruling
London stocks were still in the black by midday on Monday ahead of an expected rate cut by the European Central Bank this week, but GSK tumbled on the back of the latest US court ruling on its heartburn drug Zantac.
Franchise Brands ups FY dividend payout, underlying earnings seen at top end of guidance
Multi-brand franchise business Franchise Brands said on Monday that it will look to up its full-year dividend payout as it now expects to report adjusted underlying earnings at the top end of current market expectations.
The Property Franchise Group acquires GPEA and associated companies
Lettings and estate agency The Property Franchise Group has acquired GPEA and its associated companies, trading as The Guild of Property Professionals and Fine & Country, for a total consideration of approximately £20. 0m.
Strip Tinning names Mark Perrins as group CEO
Connection systems supplier Strip Tinning has appointed Mark Perrins as group chief executive officer, joining the board of directors with immediate effect.
Citi upgrades National Grid, cites attractive risk/reward
Citi upgraded National Grid on Monday to ‘buy’ from ‘neutral’ and lifted the price target to 985p from 920p as it cited an attractive risk/reward.
Hvivo scores £2.5m contract for Omicron characterisation study
Contract research organisation Hvivo has secured a £2. 5m contract with a mid-sized pharmaceutical company to initiate an Omicron characterisation study after the manufacture of its Omicron BA. 5 challenge agent was successfully completed in 2023.
MP Evans purchases minority stakes in Indonesian subsidiaries
Palm oil producer MP Evans has purchased a 5% minority holding in the majority of its Indonesian subsidiary trading companies.
UK manufacturing sector returns to growth in May
The UK manufacturing sector returned to growth in May, with output growing at the fastest pace in more than two years, according to a survey released on Monday.
JPMorgan upgrades St James’s Place, Quilter to ‘overweight’
JPMorgan Cazenove upgraded St James’s Place and Quilter to ‘overweight’ from ‘neutral’ on Monday as it took a look at UK wealth managers.