Market Report
Unfair e-commerce practices in EC firing line
A number of online business practices, which reportedly restrict competition, were coming under the microscope of the European Commission this week, with the release of a report said to identify a number of unfair practices in the e-commerce sector.
Deutsche Bank lifts HSBC target price, retains 'hold'
Deutsche Bank bumped up its target price on shares of HSBC, hailing the restart of dividend payments in the US but cautioned that investors would need to be patient when it came to expectations for capital upstreaming from the States.
Credit Suisse upgrades Burberry, says bear case is behind us
Burberry shares were in fashion on Wednesday as Credit Suisse upped the stock to 'neutral' from 'underperform' and lifted the price target to 1,550p from 1,300p, saying the bear case is now behind us.
TalkTalk to cut dividend further as returning Dunstone checks in
After reporting full year adjusted operating profits short of expectations, TalkTalk's returned founder Charles Dunstone said he would cut the dividend in the current year as he focused on "growth, cash generation and profit - in that order".
London midday: Stocks edge higher as retailers get a broker boost
London stocks had edged up by midday, helped by strength in the retail sector and a solid update from housebuilder Barratt Developments making up for a gloomy reading on the advertising sector from ITV.
Aberdeen and Standard Life merger to result in 800 job losses
The proposed merger between Scottish financial firms Aberdeen Asset Management and Standard Life will reduce the combined workforce by 800 jobs.
Europe midday: All eyes on Draghi
Stocks are holding slightly lower as investors wait on a speech from European Central Bank president Mario Draghi at noon and mull the first drop in Chinese factory gate inflation since June 2016 amid a somewhat uneasy calm in financial markets despite record-low levels of volatility.
Asia report: Markets mixed as Moon wins Korean presidency
Markets in Asia finished mixed on Wednesday, with investors focusing on the inauguration of the new South Korean president Moon Jae-in, and digesting the sudden firing of FBI director James Comey in the US.
Low volatility not necessarily signal of impending turmoil, Morgan Stanley says
Low levels of implied volatility do not necessarily mean that something bad is lurking just around the proverbial corner, analysts at Morgan Stanley believe.
National Express remains in high gear as US prices rise
National Express said strong momentum has continued into 2017 and enjoyed significant foreign exchange tailwinds in the first months of the year.
Europe open: Stocks slip lower ahead of Draghi speech
Stocks are drifting lower as investors wait on a speech from European Central Bank president Mario Draghi and mull the first drop in Chinese factory gate inflation since June 2016 amid a somewhat uneasy calm in financial markets despite record-low levels of volatility.
Barratt Developments sees FY profit at top end of market expectations
Housebuilder Barratt Developments said it expects pre-tax profit for the full year 2017 to be at the top end of current analyst estimates of between £675m and £733m and that completions will hit their highest level in nine years, coming in at around 17,350.
Pret a Manger eyes Wall Street IPO later in 2017
Pret a Manger is gearing up for a US flotation later this year with the appointment of a cabal of Wall Street investment banks, according to reports.
US pre-open: Stocks seen weaker as investors mull Comey's firing
US futures pointed to a negative open on Wall Street as investors digested news that President Trump has fired FBI director James Comey.
Wood Group maintains expectations, extends partnership with NCOC
John Wood Group issued a statement to the market on Wednesday morning, outlining the firm’s current trading and position, as investors gathered for the company’s annual general meeting.
Bgeo Group reports impressive first quarter profit
UK-incorporated holding company of JSC Bank of Georgia and other Georgia-focussed investment platforms Bgeo Group updated the market on its first quarter of trading on Wednesday, with profit up 24. 3% year-on-year to GEL 108. 2m.
IP Group updates investors on solid progress
Intellectual property-based business developer IP Group issued a statement on Wednesday morning, updating the market on its position and progress since 31 December, as investors headed for the company’s London offices for the annual general meeting in the afternoon.
Next boosted by Investec upgrade to 'buy'
Next got a boost on Wednesday as Investec upped its stance on the retailer to 'buy' from 'hold' and lifted the price target to 4,750p from 3,900p.
Aviva exits more Spanish businesses
Aviva announced the sale of its 50% shareholdings in life insurance and pension joint ventures Unicorp Vida and Caja España Vida, as well as its retail life insurance business Aviva Vida y Pensiones, to Santalucía on Wednesday.