Market Report
Chancellor likely to confirm new taxes for digital giants
HM Treasury is considering imposing an extra tax on tech giants like Amazon, Facebook, Google's Alphabet and Apple on their revenues rather than their profits because they are not so easy to shift from one jurisdiction to another.
Kingspan warns of further declines UK construction amid 'Brexit quagmire'
Irish insulation and building envelope solutions group Kingspan warned investors on Friday that a steep decline seen in demand for its insulated panels was likely to continue due to the "Brexit quagmire".
General Mills to buy Blue Buffalo for $40 a share
US food company General Mills made a move into the pet food market on Friday as it agreed to buy Blue Buffalo for $40 per share in cash, which is around $8bn.
Asia report: Markets finish up as dollar edged higher
Markets in Asia finished higher on Friday as the US dollar edged up, with energy plays a standout as oil prices clung to their gains.
BoE's Ramsden sounds positive, but cautious, note on productivity outlook
Productivity growth picked up in the back half of last year, yet whether that improvement will stick remains to be seen, although it's not all bad news in terms of the outlook for further improvement, a top Bank of England official argued.
Snapchat shares sink after celeb's negative tweet
Snapchat lost around $1. 3bn of its value overnight after Kylie Jenner, Kim Kardashian's sister for those not keeping up with the family, tweeted about the app.
Coventry Building Society posts impressive set of 2017 numbers
Coventry Building Society announced its results for the year ended 31 December on Friday, reporting “strong growth” in mortgages, with mortgage assets increasing £3bn to £35. 9bn, representing growth of 9%.
US pre-open: Stocks seen higher ahead of Fedspeak
US futures pointed to firmer open on Friday after the main indices ended off their highs in the previous session, with Fedspeak very much in focus.
Ofcom to open up BT poles, ban regional pricing in push for 'full fibre'
More British broadband users are set to benefit from super-fast internet speeds, after a draft decision by Ofcom today that will halve the upfront cost of building ‘full-fibre’ broadband networks.
London midday: RBS and IAG weigh but BT rallies after Ofcom let-off
Equity markets in London were a little weak around midday on Friday as results from RBS, British Airways parent IAG and bookmaker William Hill left investors disappointed.
Pantheon Resources halts testing of Texas frac after heavy rain
UK-based oil and gas exploration firm Pantheon Resources updated investors on Friday with the progress seen at its operations in East Texas, noting that while it was likely that blockages seen at its VOBM#1 well were likely to be remediated, testing at VOBM#4 had been forced into suspension due to poor weather.
Berenberg upgrades BT to 'buy' but lowers target price
Analysts at Berenberg upgraded telecommunications giant BT Group from 'hold' to 'buy' on Friday, saying that improving clarity on key strategic issues and improving market confidence triggered the re-rating.
Base Resources net profits skyrocket 466%
Australian mineral sands producer Base Resources saw net profits soar 466% in the six months leading to 31 December thanks to increased mining volumes and grades at Kwale, its flagship project in Kenya.
William Hill pleased with adjusted results and outlook
William Hill announced its final results for the 52 weeks ended 26 December on Friday, with adjusted net revenue rising 7% to £1. 71bn.
Eurozone inflation slows as expected in January
Inflation in the eurozone fell to 1. 3% year-on-year in January from 1. 4% in December, in line with consensus and the initial estimate and moving further away from the European Central Bank's target of just under 2%, according to a final release from Eurostat on Friday.
JPMorgan downgrades BAE Systems to 'underweight'
Defence giant BAE Systems was under the cosh on Friday as JPMorgan Cazenove downgraded the stock to ‘underweight’ from ‘neutral’ and trimmed the price target to 550p from 555p following the company’s full-year results a day earlier.
Finsbury Food secures new revolving credit facility
AIM-listed speciality cake and bread manufacturer Finsbury Food said on Friday that it has refinanced its current debt facilities.
Stanley Gibbons to get £19.5m investment from Phoenix UK Fund
AIM-listed stamp specialist Stanley Gibbons said on Friday that it has entered into various agreements with Phoenix UK Fund which give effect to an investment of up to £19. 45m, reducing the company’s debt to £10m and lifting cash resources by around £5. 4m.
Mayan Energy wraps up first phase of expansion work at Asphalt Ridge
AIM-quoted oil and gas exploration and production firm Mayan Energy has reported the completion of the main phase of construction work to expand heavy oil extraction capacity at the processing facility on its Asphalt Ridge project in Utah by the project's operator, Petroteq Energy.
Rightmove FY operating profit up 10%, customer numbers hit record high
Rightmove reported a 10% jump in full-year operating profit on Friday as revenue grew and customer numbers rose to a record high.