Market Report
Europe close: Dax at new highs on strength in autos, chemicals
European stocks barreled higher as investors continued to search for yield against a backdrop of improving macro data, according to strategists, with cyclical issues like auto and parts manufacturers and chemicals pacing gains.
FX round-up: Cable up an ace despite sterling's wider list lower
Sterling gained a ace on an out-of-form greenback but otherwise was listing lower on political jitters surrounding the upcoming UK general election.
London close: Commodity losses, weak US May jobs report cap gains
After beginning on a chipper note, the FTSE 100 gradually lost its shine and slipped back towards its starting levels over the course of Friday trading, undermined by weak commodity prices and disappointing jobs data in the States, in that order.
Director dealings: Selling Simons at B&M and Draper Esprit
Simon Arora at B&M European Value and Simon Cook of Draper Esprit both sold a chunk of shares in their respective companies.
US trade deficit widens more than expected in April
America's trade shortfall with the rest of the world widened in April although in a positive sign for consumption, demand for imports strengthened.
Commodities: Crude dives on US drilling fears after Trump quit Paris accord
Crude-oil futures are slip-sliding lower this balmy Friday afternoon in London as markets speculate that the US' quitting the 2015 Paris climate agreement might spark a ramp-up in shale drilling.
Acacia Mining hopeful of Tanzania resolution soon
Acacia Mining hopes to speak to the Tanzanian government in the coming "one to two weeks" to resolve a dispute in which the gold miner was accused of under-reporting the amount of gold it was exporting.
US May jobs report - Analysts react
"A few minutes ago, I was sent a chart showing that May payrolls tend substantially to undershoot consensus substantially when the survey is conducted early in the month. This year, the first day of the survey week was the 7th, the second earliest possible. We can't know for sure if this explains the soft reading today, but it certainly would help explain the huge discrepancy between the published number and the strength of most survey data. For now, we are very inclined to expect a big rebound in June.
FTSE 100 movers: Old Mutual on the rise; Whitbread hit by downgrade
London’s FTSE 100 was up 0. 1% to 7,549. 20 in afternoon trade, off the intraday highs from earlier that saw the index within a whisker of the 7,600 for the first time.
US open: Traders unfazed by weak jobs report, push stocks higher
US stocks notched fresh record highs at the end of the week, with technology issues again spearheading the charge, despite the release of a weaker than expected jobs report for the month of May.
Sage to sell North American payments business
Software company Sage has agreed to sell its North American payments business - Sage Payments Solutions - to private equity firm GTCR for an enterprise value of $260m (£202m).
FTSE 250 movers: Acacia shines but oil stocks slump
London’s FTSE 250 was down 0. 2% to 19,981. 04 in afternoon trade, after setting another intraday record as it topped 20,080 earlier.
Apple, Facebook, Goldman condemn Trump's Paris withdrawal
A raft of major US tech companies have condemned Donald Trump's decision to withdraw the US from the Paris climate agreement, including Facebook and Google.
Ormonde announces progress on Barruecopardo Project
Ormonde Mining updated the market on construction activities for the Barruecopardo Project in Salamanca, Spain on Friday, saying that following a period of review of the construction schedule, the board of the project company Saloro had authorised the issuance of outstanding approvals on various equipment and plant construction contracts.
Pound slips as further poll shows Labour closing gap on Tories
With less than a week to go before the UK general election, opinion polls continued to show Labour gaining ground and the Conservative party's share of the vote shrinking.
Gfinity partnering with Microsoft for virtual Le Mans race
International esports promoter Gfinity announced on Friday that it had been confirmed as the exclusive partner for the ‘elite’ finals of Microsoft's Forza Racing Championship at the 24 Hours of Le Mans event in June.
TomCo Energy reveals details of five-way partnership
TomCo Energy announced on Friday that, further to the announcement on 28 March relating to the execution of a non-binding letter of intent between TomCo, TurboShale, the Oil Mining Company (OMC), JR Technologies and Venture Development Partners, that the parties had entered into a framework agreement.
US non-farm payrolls rise by 138,000 in May
Job creation in the States slowed last month, surprising economic forecasters.
AFH Financial acquires Suffolk-based Euinsure
Financial planning-led wealth management firm AFH Financial Group announced the acquisition of the entire issued share capital of Eunisure on Friday, which it described as a face to face adviser-led financial planning business focused on the protection market based in Newmarket, Suffolk.
Altitude Group completes £0.8m acquisition of AdProducts.com
Personalised products marketplace provider Altitude Group announced on Friday that it had completed the acquisition of the trade and “certain assets” of AdProducts. com.