Market Pulse
Broker tips: TI Fluid Systems, RWS Holdings, Melrose Industries
Jefferies downgraded its stance on TI Fluid Systems on Tuesday to 'hold' from 'buy' and cut its target price on the stock from 215. 0p following a takeover proposal from ABC Technologies.
London close: Stocks slip ahead of US tech earnings, UK Budget
London stocks closed in the red on Tuesday, amid mixed corporate earnings and investor caution ahead of big US tech results and the UK’s Budget announcement.
Director dealings: Likewise non-executive director lowers stake
Likewise Group revealed on Tuesday that non-executive director Andrew Simpson had disposed of 9. 25m ordinary shares in the AIM-listed floor coverings distributor.
Berenberg lowers target price on RWS following FY trading update
Analysts at Berenberg lowered their target price on RWS Holdings from 380. 0p to 330. 0p on Tuesday following the group's FY24 trading update.
Melrose Industries ‘explainer’ on RRSPs a ‘positive development’, says Citi
The "explainer" released by Melrose Industries on Monday about its 19 Risk and Revenue Sharing Partnerships (RRSPs) is a "positive development," Citi said in a research note.
US home price growth cools to 4.2pc in August
S&P CoreLogic/Case-Shiller said on Tuesday that US home prices increased by 4. 2% in August, down from the 4. 8% gain seen in July as higher interest rates curbed growth.
US open: Mixed start to trading as investors await Alphabet earnings
Wall Street trading got off to a mixed start on Tuesday as market participants braced for a number of big tech earnings.
Jefferies cuts TI Fluid Systems price target to 200p, downgrades to 'hold'
Jefferies downgraded its stance on TI Fluid Systems on Tuesday to ‘hold’ from ‘buy’ following the takeover proposal from ABC Technologies.
Challenger farms out Uruguay block interest to Chevron
Challenger Energy announced on Tuesday that it has completed the farm-out of a 60% interest in its AREA OFF-1 block offshore Uruguay to Chevron.
US job openings fall to more than three year low in September
September's JOLTS job report revealed the number of job openings in the US had fallen by 418,000 to 7. 44m last month, the lowest level seen since January 2021.
FTSE 250 movers: Georgian banks recover; C&C fizzes lower
London’s FTSE 250 was up 1% at 20,621. 11 in afternoon trade on Tuesday.
Conference Board's US consumer confidence index rises in October
The Conference Board's consumer confidence index increased to 108. 7 in October, up from 99. 2 in September.
FTSE 100 movers: HSBC rallies on results; BP gushes lower
London’s FTSE 100 was down 0. 7% at 8,229. 35 in afternoon trade on Tuesday.
China mulls over issuance of RMB 10trn in extra debt
China was said to be considering issuing more than RMB 10. 0trn (£1. 07trn) in extra debt over the next few years in an effort to revive its fragile economy.
Shield Therapeutics reports strong quarter for Accrufer
Shield Therapeutics reported a strong third-quarter performance for its iron deficiency treatment Accrufer in the US on Tuesday, achieving net revenue of $7. 2m.
Oracle Power completes ground survey at Blue Rock Valley
Oracle Power announced the completion of a ground gravity survey at its Blue Rock Valley Copper and Silver Project in Western Australia's Ashburton Basin on Tuesday.
Alba Mineral Resources reports progress at Clogau-St David's
Alba Mineral Resources updated the market on operations at its Clogau-St David’s Gold Mine in north Wales on Tuesday, reporting progress at its priority Llechfraith Target.
US pre-open: Futures trade lower ahead of Alphabet earnings
Wall Street stocks were in the red ahead of the bell on Tuesday as market participants braced for a number of big tech earnings.
Royal Caribbean posts solid third quarter but more cautious outlook
Shares in Miami-based cruise operator Royal Caribbean were sliding in early trading on Tuesday, even after it reported adjusted third-quarter earnings per share of $5. 20, surpassing analyst expectations of $5. 04.
Union Jack announces impending spudding of Taylor-1
Union Jack Oil announced on Tuesday that its Taylor-1 well in Seminole County, Oklahoma, is set to spud around 31 October.