Market Pulse
London close: Stocks finish higher as US inflation slows
London stocks ended the week on a positive note on Friday, with NatWest a standout performer, as investors digested a dip in inflation from across the pond.
Broker tips: Lloyds Banking Group, Unilever
RBC Capital Markets downgraded Lloyds Banking Group on Friday to 'sector perform' from 'outperform' after the shares hit its 60. 0p price target.
Director dealings: Assetco director raises stake via Harwood interest
Assetco revealed on Friday that director Christopher Mills had purchased 2. 65m ordinary shares in the AIM-listed wealth management firm.
Apollo to buy IGT Gaming and Everi in $6.3bn deal
Apollo Global Management has agreed to buy International Game Technology’s gaming and digital business - IGT Gaming - and gambling machines firm Everi Holdings in a $6. 3bn cash deal.
FTSE 250 movers: Drax powers ahead after results; Computacenter falls
London’s FTSE 250 was 2% higher at 21,320. 40 in afternoon trade on Friday.
US open: Stocks higher as traders digest PCE reading
Wall Street stocks were in the green early on Friday as traders digested the latest personal consumption expenditure reading - the Federal Reserve's preferred inflation gauge.
FTSE 100 movers: NatWest surges after results; Rightmove edges down
London’s FTSE 100 was up 0. 9% at 8,262. 14 in afternoon trade on Friday.
US personal incomes undershoot forecasts in June, inflation dips
Americans continued to spend at a steady pace in June while inflation slowed alongside.
US pre-open: Futures trade higher ahead of PCE reading
Wall Street futures were in the green ahead of the bell on Friday ahead of the latest personal consumption expenditure reading - the Federal Reserve's preferred inflation gauge.
Mercedes-Benz Q2 earnings fall as car sales slip
German automotive giant Mercedes Benz posted a sharp fall in adjusted earnings in its car division during Q2 as it continues to struggle with model changeovers and weakened Asian trading.
3M comfortably beats expectations for Q2 revenue, earnings
American industrial conglomerate 3M announced a strong set of second-quarter results on Friday, comfortably beating market expectations as it narrowed its guidance for the full-year towards the top end of its previous expectations.
London midday: Stocks stay up as investors eye US inflation reading
London stocks were still in the black by midday on Friday, with NatWest pacing the gains after well-received results, as investors eyed a key US inflation reading.
Berenberg hikes target price on Unilever
Analysts at Berenberg hiked their target price on consumer goods giant Unilever from £49. 60 to £55. 70 on Friday, stating that the group's recent H1 results highlighted a return to "high-quality earnings growth".
Law Debenture delivers 'solid' overall first-half performance
Law Debenture Corporation reported a robust first-half performance in both its investment and independent professional services (IPS) business on Friday.
Taylor Maritime reports solid quarterly NAV return
Taylor Maritime Investments reported an unaudited net asset value of $1. 52 per share as of 30 June in its quarterly update on Friday, up from $1. 48 at the end of March, representing a total return of 4. 3% for the quarter.
Drivers pay £1.6bn too much in weak petrol market - CMA
The Competition and Markets Authority (CMA) reported on Friday that weakened competition among fuel retailers had led to UK drivers paying over £1. 6bn more than they should have in 2023.
GCP Infrastructure reports slight decrease in NAV per share
GCP Infrastructure Investments said in an update on Friday that its unaudited net asset value per share was 107. 58p as at 30 June, a slight decrease from 107. 62p at the end of March.
RBC Capital downgrades Lloyds after shares hit price target
RBC Capital Markets downgraded Lloyds Banking Group on Friday to ‘sector perform’ from ‘outperform’ after the shares hit its 60p price target.
National Grid sells final 20pc interest in National Gas
National Grid announced the sale of its final 20% equity interest in National Gas to its current majority owners on Friday, consisting of a consortium of long-term infrastructure investors led by Macquarie Asset Management.
Asia report: Most markets rise, Tokyo core inflation unchanged
Asia-Pacific markets mostly rebounded on Friday, recovering from Thursday's sell-off, which had pushed some regional indexes to their lowest levels in months.