Market Report
US close: Stocks record first monthly loss of the year following surprise tariff announcement
Wall Street stocks recorded their first monthly loss of the year on Friday after going deep into the red on the back of comments made by Donald Trump overnight when he revealed the US would impose tariffs on imports from Mexico.
London close: Stocks slip as trade tensions ratchet up
Stocks in London are nursing significant losses after the US President surprised markets with his decision to slap tariffs on Mexico and reports that Beijing might be nearer to retaliating for Washington's decision to blacklist telecoms equipment maker Huawei.
Europe close: Markets finish lower as investors react to surprise tariffs
Stocks on the continent finished in the red across the board on Friday, as traders continued to react to a surprise move from the US administration to slap tariffs on Mexico.
China threatens with its own blacklist of firms after Huawei ban
In its latest retaliation against the US after it blacklisted Chinese tech company Huawei, China said on Friday that it would establish a list of so-called “unreliable" entities that harm national companies.
Broker tips: Sumo Group, Electrocomponents
Analysts at Shore Capital upgraded their stance on video games developer Sumo Group from 'hold' to 'buy' on Friday following a near 6% drop in the outfit's shares since they initiating coverage on the group on 20 May, noting that it had created 17% upside potential to its fair value assessment of 159p per share.
Shore Capital raises Sumo to 'buy' following share price drop
Analysts at Shore Capital upgraded their stance on video games developer Sumo Group from 'hold' to 'buy' on Friday following a near 6% drop in the outfit's shares since they initiating coverage on the group on 20 May, noting hat it had created 17% upside potential to its fair value assessment of 159p per share.
Berenberg ups price target on Electrocomponents after 'solid' FY results
Analysts at Berenberg upped their target price on British industrial and electronics products distributor Electrocomponents to 715p from their previous 650p stance after the group issued a "strong set" of full-year results last week.
Director dealings: Stobart CEO raises stake
Stobart Group revealed on Friday that chief executive Warwick Brady had acquired 50,000 ordinary shares in the FTSE 250-listed infrastructure and support business.
NetScientific upbeat on latest data from portfolio firm ProAxsis
Healthcare intellectual property commercialisation group NetScientific announced on Friday that its portfolio company ProAxsis has received positive early data from the ‘BRIDGE’ study - a major clinical trial funded by the British Lung Foundation and the European Respiratory Society.
Americans' inflation expectations jump on trade war worries, University of Michigan says
Americans' optimism slipped "significantly" over the second half of May as a result of the ongoing trade war with Beijing, alongside a jump in inflation expectations.
Time Out cuts ribbon on market in New York City
Media and entertainment company Time Out Group announced on Friday that Time Out Market New York was opening to the public later in the day, bringing “the best of the city under one roof”, based on the editorial curation Time Out said it was known for.
US open: Stocks head south after Trump springs Mexican tariff surprise
Trading on Wall Street began with heavy losses after Donald Trump made a surprise announcement overnight that the US would impose tariffs on imports from Mexico.
Univision sees 'solid' second half despite temporary Government ban
CCTV design and installation firm Univision received official confirmation from the Hong Kong Government Works Branch on Friday that its temporary suspension from tendering for public works contracts had been lifted, with immediate effect. .
Chicago PMI edges past forecasts in May
A closely-followed gauge of factory sector activity in the Chicago area edged past forecasts in May, but on longer time frames was said to be pointing to softness ahead, although not outright weakness.
Europe midday: Autos&Parts, Basic Resources companies pace losses
Stocks on the Continent are holding lower following an unexpected move by the US administration to slap tariffs on Mexico, amid signs that China will ramp up its response to pressure from Washington and following a weak reading on activity in China's manufacturing sector.
US personal income and spending growth outpace forecasts in April
Income growth and spending in the US picked up by more than expected last month pointing to a pick up in consumption over the second quarter, with prices set to remain not far from the Federal Reserve's definition of price stability.
Audioboom narrows loss and reaches cash flow breakeven
Podcasting company Audioboom reported a 92% improvement in revenue in its final results on Friday, to $11. 7m, reporting “significant” growth in the final three months of the period.
Uber reports $1bn quarterly loss in first results since IPO
Uber reported a $1bn loss on Thursday in its first quarterly results since a disappointing initial public offering earlier in the month.
Huawei forbids employees from meeting US contacts
Huawei has ordered employees to cancel technical meetings with US contacts as tensions with the US administration reach an all-time high.
US pre-open: Stocks set to tumble as Trump declares trade war on another front
Wall Street futures were pointing to heavy losses at the bell after Donald Trump made a surprise announcement that the US would impose tariffs on imports from Mexico.