Market Report
Europe midday: Profit-taking sets in as investors brood over uncertainties
Stocks on the Continent have come under some profit-taking with some market commentary referencing lingering doubts around the specifics of the trade truce agreed by the US and China at the weekend and even concerns around the outlook for economic growth in the US.
Surface Transforms revenues take a dip
Surface Transforms updated the market on its trading for the six months ended 30 November on Tuesday, reporting a fall in revenues to £0. 51m from £0. 52m a year earlier.
ECR Minerals submits new exploration licences in Australia
Precious metals exploration and development company ECR Minerals has submitted new licence applications to augment its existing gold exploration interests in the Australian state of Victoria, it announced on Tuesday.
Marlowe profits soar on new acquisitions
Support services outfit Marlowe saw first-half profits rise in the six months leading to 30 September as a result of recent acquisitions giving a boost to revenues.
Roche upbeat on new drug study results
Roche announced new data from the ‘Venclexta’/’Venclyxto’ (venetoclax) clinical development programme on Tuesday, including longer-term results from the phase III MURANO study in people with previously-treated chronic lymphocytic leukaemia (CLL).
Canaccord downgrades Kier as it accounts for rights issue, macro risks
FTSE 250 construction group Kier was under the cosh again on Tuesday as Canaccord Genuity cut its stance on the stock to 'hold' from 'buy' and slashed the price target to 525p from 1,200p to take into account the heavily-discounted rights issue announced last week and macro risks.
Ryanair reaches initial agreement with German pilots
Ryanair confirmed that it has signed a framework agreement with the German pilot union, Vereinigung Cockpit, on Tuesday.
Diversified G&O strikes decommissioning deal with West Virginia
Diversified Gas and Oil has agreed to plug, return to production or dispose of at least 50 gas and oil wells per year in the US state of West Virginia over the next 15 years.
US pre-open: Stocks to drop as investors grow sceptical about trade truce
US futures pointed to a negative open on Wall Street on Tuesday as the trade truce rally ran out of steam.
Asia report: Markets mixed as questions raised over US-China trade truce
Markets in Asia were in a mixed state as they closed on Tuesday, as positivity from the bumper session on Monday began to make way for questions on the trade truce agreed between Donald Trump and Xi Jinping.
London midday: Stocks fall into the red as sterling surges
London stocks had fallen into the red by midday on Tuesday as sterling spiked higher after a senior European Court of Justice official said Britain would be allowed to unilaterally revoke Article 50.
Camellia exempted from new Bangladeshi legislation
Camellia shares were on the rise after the government of Bangladesh declared that the tea industry was to be exempt from new retirement legislation.
Quartix expects earnings to top market expectations
Tracking systems provider Quartix expects full-year profits to exceed market expectations after a change in accounting practices and some "strong progress" in its core fleet business in the USA and France.
Consort Medical to take £3m hit from delays to Mylan's Wixela inhaler
Drug and delivery device company Consort Medical was under the cosh on Tuesday as it warned that pre-tax profit for the current financial year will take a £3m hit from delays to its generic Advair programme.
BT discount to peers unwarranted, says Goldman
BT's discount to peers is "increasingly unwarranted", Goldman Sachs said on Tuesday as it lifted the stock to 'buy' from 'neutral' and upped the price target to 320p from 240p, noting implied upside of 24. 7%.
Deutsche Bank ups Rightmove to 'buy', cites attractive valuation
Rightmove was the standout gainer on the FTSE 100 on Tuesday as Deutsche Bank upped the stock to 'buy' from 'hold' and lifted the target price to 530p from 440p, highlighting its attractive valuation.
Sirius Petroleum acquires stake near-term producer
Sirius Petroleum has struck a deal that will provide the Nigeria-focused oil and gas outfit with access to near-term production growth and low-risk exploration potential.
London open: Stocks edge higher as focus shifts back to Brexit
London stocks edged a little higher in early trade on Tuesday as the trade truce rally ran out of steam and investors shifted their attention back to Brexit.
IG Group revenue dips amid storm of new regulations
Online trading provider IG Group Holdings updated the market on its first half ended 30 November on Tuesday, reporting that revenue for the period was expected to be around 6% lower than in the same period in the 2018 financial year, which was a record for IG.
Wizz Air continues to see solid growth in November
Central and Eastern Europe-focussed airline Wizz Air issued its passenger statistics for November on Tuesday, reporting an 11. 2% improvement year-on-year in passenger numbers, to 2,400,337.