Market Pulse
London close: Stocks finish mixed ahead of Budget next week
London markets closed with mixed results on Friday as caution weighed on investor sentiment, driven by concerns over weakening consumer confidence and the forthcoming Budget.
Broker tips: SSE, Flutter Entertainment
Analysts at Berenberg raised their target price on bookmaker Flutter Entertainment from 18,800. 0p to 20,300. 0p on Friday as it updated its estimates for the group's mid-term targets.
Director dealings: Ecora Resources CEO snaps up shares
Ecora Resources revealed on Friday that chief executive Marc Lafleche had acquired 100,000 ordinary shares in the London-listed royalty and streaming company.
US durable goods orders drop in September due to drag from civilian aircraft
Orders for goods made to last three years or more fell as expected last month, due to the drag from a sharp drop in those for aircraft.
FTSE 250 movers: Close Brothers tumbles; Burberry in fashion
London’s FTSE 250 was up 0. 3% at 20,843. 92 in afternoon trade on Friday.
US open: Dow headed for weekly loss despite early gains
Wall Street stocks were in the green early on Friday but were still on track for a losing week.
FTSE 100 movers: NatWest jumps on results; SSE hit by downgrade
London’s FTSE 100 was flat at 8,270. 58 in afternoon trade on Friday.
Chapel Down cuts sales guidance; no longer for sale
English wine maker Chapel Down downgraded its full-year sales guidance on Friday and said it was no longer up for sale.
Prospex Energy announces restart of production at Viura
Prospex Energy announced on Friday that production has resumed at the Viura gas field, with revenues expected in November.
Close Brothers tumbles after Court of Appeal ruling
Close Brothers tumbled on Friday after the Court of Appeal ruled in favour of British consumers that motor dealers acting as credit brokers owe a fiduciary duty to their customers.
Power Metal inks deal to acquire stake in Oman copper block
Power Metal Resources announced on Friday that, alongside its subsidiary Power Arabia, it has formalised an agreement with Alara Resources and Awtad Copper to acquire a 12. 5% stake in Oman’s Block 8 copper concession.
Petro Matad starts oil production at Heron-1 well
Petro Matad announced the start of oil production at its Heron-1 well on Friday, in the Block XX production sharing contract area in eastern Mongolia.
Griffin Mining reports mixed production results in third quarter
Griffin Mining reported a mixed third-quarter production performance on Friday, having mined 337,547 tonnes of ore, down from 363,406 tonnes last year, while processed ore increased to 396,778 tonnes from 367,024 tonnes.
Sanofi beats expectations with bumper third-quarter earnings
Sanofi reported stronger-than-expected third-quarter earnings on Friday, driven by early vaccine sales and robust performance from its anti-inflammatory drug Dupixent.
Eni expands share buybacks after better-than-expected third quarter
Italian energy major Eni announced an increase to its 2024 share buyback programme on Friday, after stronger-than-expected third-quarter profits driven by higher production and strategic portfolio improvements.
Galileo Resources subsidiary awarded Zambia copper licence
Galileo Resources announced on Friday that Statunga Investments, in which it holds a 75% stake, has been awarded an additional small-scale mining licence for the Luansobe copper project in Zambia.
US pre-open: Futures higher as bond yields, Q3 earnings remain in focus
Wall Street futures were in the green ahead of the bell on Friday as bond yields and corporate earnings remained in focus.
London midday: FTSE touch lower amid Budget jitters
London stocks were still just a touch weaker by midday on Friday as investors mulled a decline in consumer confidence and as wariness set in ahead of next week’s Budget.
Remy Cointreau downgrades FY sales outlook
Remy Cointreau downgraded its full-year sales outlook on Friday as it posted a drop in first-half sales amid continued destocking in the Americas.
Berenberg raises target price on Flutter Entertainment
Analysts at Berenberg raised their target price on bookmaker Flutter Entertainment from 18,800. 0p to 20,300. 0p on Friday as it updated its estimates for the group's mid-term targets.