Market Report
Diurnal awarded US patent for Chronocort product
Specialty pharmaceutical company Diurnal Group announced on Thursday that the US Patent and Trademark Office (USPTO) has granted a second US patent for its ‘Chronocort’ modified release hydrocortisone product.
Goldman downgrades Ted Baker, HSBC upgrades
Ted Baker was under pressure on Thursday as Goldman Sachs downgraded its stance on the fashion retailer to 'neutral' from 'buy' as its new target price of 2,150p, up from 2,000p, suggests about 1% upside versus an average of 17% for the bank's coverage.
SafeCharge sees record transaction volumes in 2018
Payments technology company SafeCharge updated the market on its trading for the year ended 31 December on Thursday, reporting that the “strong momentum” it announced in its last trading update on 28 November continued into December, with record revenues and transaction processing volumes in the fourth quarter.
Debenhams sales keep falling, but debt cut as bank talks start
Debenhams said it had cut debt and begun talks with lenders after a performance over the festive period that the troubled department store group said kept it on track for full year targets.
B&M European Value sales jump 12% in Q3
B&M European Value Retail posted a jump in third-quarter sales on Thursday as it hailed a "pleasing finish" to the quarter.
Worst Christmas in a decade for UK retailers - BRC
Retailers in the UK suffered their worst Christmas in a decade last month amid worries about Brexit and weak consumer confidence, according to data released by the British Retail Consortium and KPMG.
China reveals progress in talks with US
China’s commerce ministry said on Thursday that trade talks with the US had progressed positively over issues such as forced technology transfers and intellectual property rights.
John Lewis staff bonus under threat despite positive Christmas update
Staff at John Lewis may not be getting their bonus this year, the retailer said on Thursday, as it continues to expect "substantially" lower full-year profit despite a decent Christmas performance.
I3 Energy plans multi-well drilling campaign for summer
Independent oil and gas company I3 Energy intends to kick off a multi-well drilling campaign across its Liberator field and Serenity prospect this summer.
Hilton Food performance underpinned by Seachill, Australia operations
Food packing business Hilton Food said on Thursday that it performed in line with expectations in the year to 30 December 2018, driven by Seachill and its Australian operations.
Primorus buys more Greatland shares following recent drilling results
Primorus Investments advised shareholders on Thursday that, as per its investment mandate, it now owned a total of 35 million shares in AIM-listed metals exploration company Greatland Gold, representing 1. 09% of the issued capital in Greatland at a weighted average price of 1. 71p per share.
Speirs & Jeffrey helps lift year-end performance at Rathbone Brothers
Rathbone Brothers updated the market on its for the three months ended 31 December on Thursday, reporting that while the final quarter of 2018 reflected weaker investment markets, total year-end funds under management and administration benefitted from its recent acquisition of Speirs & Jeffrey.
Prudential and UOB extend and expand bancassurance alliance
Prudential, alongside United Overseas Bank, announced the renewal of their regional strategic bancassurance alliance on Thursday.
London open: Retail disappointment weighs on FTSE but Tesco bucks trend
It was all about the retail sector on Thursday, with London stocks on the back foot after disappointing updates from the likes of Marks & Spencer, Halfords and Card Factory, as only Tesco held its own on the top-flight index.
Halfords shares dive as it revises profit forecasts
Motoring and cycling product and service retailer Halfords Group updated the market on its trading performance for the 14 weeks ended 4 January on Thursday, reporting a 1. 7% fall in like-for-like group revenue.
Petroneft Resources appoints Karl Johnson as chief executive
Oil and gas exploration outfit Petroneft Resources tapped non-executive director David Sturt as its next chief executive on Thursday, taking over from interim CEO Karl Johnson.
Thursday newspaper round-up: Retailers, Jaguar Land Rover, Rolls-Royce
Retailers experienced their worst Christmas for 10 years last month as shops were hit by Brexit worries and a dramatic fall in consumer confidence. Total sales growth dropped to zero in December for the first time since 2008, with all areas of the high street hit by a fall in sales except food, which benefited from intense competition among the major supermarket chains. – Guardian.
London pre-open: Stocks seen lower amid US shutdown woes as retailers report
London stocks were set to drop at the open on Thursday following weak Chinese inflation data and after US President Trump's decision to storm out of a meeting with Congressional Democrat leaders sparked fresh concerns about the US government shutdown.
M&S maintains full-year guidance, Tesco outshines supermarket rivals
London open The FTSE 100 is expected to open 33 points lower on Thursday, having closed up 0. 66% at 6,906. 63 on Wednesday.
US close: Markets higher on trade optimism, Fed minutes
US stocks finished higher on Wednesday amid cautious optimism following trade talks between the US and China, and as investors sifted through the latest Federal Reserve minutes.