Market Report
Ocado rallies on double upgrade at Exane
Ocado got a boost on Monday as Exane BNP Paribas upgraded the stock to 'outperform' from 'underperform' and lifted the price target to 325p from 220p following last week's news that Amazon is buying Whole Foods Market.
Davis heads into first Brexit negotiations with confusion reigning
Brexit secretary David Davis will meet the European Union's chief negotiator Michel Barnier in Brussels on Monday morning to formally begin discussing the terms of the UK's divorce.
FDA approves cryopreserved ReNeuron formulation
Cell-based therapeutics developer ReNeuron Group updated the marker on its cell therapy development programmes targeting degenerative diseases of the retina on Monday, reporting that the US Food and Drug Administration (FDA) had approved the cryopreserved formulation of its human retinal progenitor cell (hRPC) therapeutic candidate.
Plant Impact revenue surges as shipments of Veritas rise
Crop enhancement research and development company Plant Impact published a trading update for the nine months to 30 April on Monday, with revenue for the period up 55% on the same time last year to £7. 3m.
Xtract Resources subsidiary signs mining agreements in Mozambique
Xtract Resources announced on Monday that its wholly-owned Mozambican subsidiary, Explorator Limitada, had concluded a mining contractor agreement with Omnia Mining and Moz Gold Group for the exploitation of alluvial gold deposits at its Manica mining concession in Mozambique.
Argos' flexible returns threatened by Sainsbury's cost cutting
Argos’ days as the champion of the lenient returns policy could be numbered, with reports from within the company that the division was facing pressure from new owner Sainsbury’s to keep a firmer lid on returns costs.
Europe midday: Stocks hold higher amid investor optimism
European stocks are holding higher amid investor optimism following the result of the French legislative elections at the weekend.
London midday: Stocks hold gains as Brexit talks kick off
London stocks were still on the front foot by midday, helped by a reversal in fortunes for retailers, as Brexit negotiations kicked off.
US pre-open: Stocks seen higher, with Dow set for fresh record
US futures pointed to a firmer start on Wall Street on Monday, with the Dow set to hit a fresh record at the open.
Citi cuts iron ore price forecasts
Analysts at Citi lowered their forecasts for the price of iron ore over the next twelve months, telling clients that lower prices were needed in order for the market to re-balance and in anticipation of waning Chinese growth.
Flowgroup recapitalises as it focuses on consumer business
Residential gas and electricity supplier Flowgroup announced the successful re-capitalisation of the company in a shareholder update on Monday.
Asia report: Markets higher ahead of Brexit talks
Markets in Asia finished higher on Monday, as markets prepared for the Brexit negotiations between the United Kingdom and the so-called ‘EU27’, while a terrorist attack outside a London mosque left one person dead.
Shore Capital cuts CMC Markets to 'hold', says risk/reward more balanced
Shore Capital downgraded its stance on CMC Markets to 'hold' from 'buy' saying the risk/reward is now more balanced after the shares made a solid recovery from the lows seen in the immediate aftermath of the FCA consultation.
CareTech gobbling up Selborne Care for £17m
Specialist social care services provider CareTech Holdings announced on Monday that it had agreed to acquire the entire issued share capital of Selborne Care for a total consideration of £16. 9m in cash.
Calculus and Neptune VCTs to merge
Calculus VCT issued an update to the market on Monday morning, confirming that its board had agreed in principle with the board of Neptune VCT to merge on a relative net asset basis.
Japanese seasonally adjusted trade surplus slips in May
Japanese exports and imports failed to rebound in May, suggesting that foreign demand acted as a drag on the broader economy during the second quarter, but some economists were nevertheless optimistic.
London open: Stocks push higher as Brexit talks begin
London stocks rose in early trade on Monday, taking their cue from an upbeat Asian session and with Brexit negotiations due to kick off in Brussels later.
House asking prices tumble in London and South East, Rightmove reveals
Asking prices for houses in the UK are being cut at the sharpest rate in over four years amid political and economic uncertainty, as London and the South East underperformed the rest of the UK.
Co-operative Bank in 'advanced discussions' over capital raise
The Co-operative Bank confirmed on Monday that it is in advanced discussions with a group of existing investors about raising further funds.