Market Report
Solid State FY performance seen 'materially below' current expectations
Electronics group Solid State warned on Friday that payments linked to a UK government defence contract had been paused, pending the completion of a strategic defence review next summer.
Europe open: Pharma shares hit as Trump appoints Kennedy to head health
European equity markets opened weaker on Friday with pharma stocks lower on news that Robert F. Kennedy Jr – who has made misleading statements on vaccines – had been appointed as Donald Trump’s head of health.
Evotec surges on Halozyme takeover interest
Evotec surged on Friday after Halozyme Therapeutics confirmed it had submitted a non-binding proposal to buy the German biotech for €11. 00 per share in cash, or about €2bn.
London open: Stocks fall as UK growth slows
London stocks fell in early trade on Friday as data showed that economic growth in the UK unexpectedly slowed in the third quarter.
Volex makes two rejected bids for TT Electronics
Volex announced on Friday that it has submitted two proposals to acquire the London-listed TT Electronics in a cash-and-shares deal, valuing it at around £249m.
MJ Gleeson sees FY in line despite ‘lack of conviction’ in market
Housebuilder MJ Gleeson said on Friday that it remains on track for full-year results in line with market expectations despite a "lack of conviction" in the market, which continued through the Autumn.
UK economic growth stalls in third quarter
The UK economy grew by 0. 1% in the last quarter, official data showed on Friday, slightly below expectations.
London pre-open: Stocks seen lower on weak US cues; GDP in focus
London stocks were set to fall at the open on Friday following a downbeat session on Wall Street, as investors mulled the latest UK GDP data.
Land Securities returns to profit, Volex makes two bids for TT Electronics
London open The FTSE 100 is expected to open 33 points lower on Friday, having closed up 0. 51% on Thursday at 8,071. 19.
Friday newspaper round-up: London Capital & Finance, airlines, Resolute Mining
Investment firm London Capital & Finance (LCF), whose failure in 2019 triggered one of Britain’s biggest retail investment scandals, operated as a Ponzi scheme, a London judge ruled on Thursday. The high court said former chief executive Michael Thomson and four others had knowingly participated in the fraud, misled investors and misappropriated assets in a ruling welcomed by LCF’s joint administrators, which brought the case. – Guardian.