Market Report
US close: Mixed session on the Street as geopolitical tensions remain firmly in focus
Wall Street stocks closed with some mixed results on the first day of trading this week as geopolitical tensions remained firmly in focus.
FX round-up: Cable dips alongside US dollar
Sterling was on the back foot at the start of the week, with all eyes on whether the front-runner to become the next Prime Minister, Boris Johnson, would participate would join a planned debate on Sky on Tuesday.
Commodities: Gold futures jump further past $1,400/oz.. mark on COMEX
Gold futures climbed further past the psychological $1,400/oz. mark on COMEX amid ongoing speculation that the US central bank might be nearer to starting to cut interest rates and negative news-flow around the geopolitical tensions in the Persian Gulf.
Soros leads call from billionaires for introduction of wealth tax
Billionaire investor and philantropist George Soros is leading a call from other billionaires and heiresses including Regan Pritzker and Abigail Disney to have the government introduce a "moderate" tax on wealth in order to address income inequality, climate change and public health issues.
Europe close: Stocks dip amid trade and geopolitical tensions
Stocks across the Continent started the week with slight losses, as traders waited on the results of the upcoming G-20 leaders' summit scheduled for 28-29 June and amid weak readings on the euro area economy.
London close: Stocks little changed as investors wait on G20, analysts divided
London stocks were little changed on Monday amid lingering tensions between the US and Iran, and as investors eyed this week's G20 meeting.
GlaxoSmithKline's Zejula application accepted by US Food and drug administration
GlaxoSmithKline (GSK) confirmed on Monday Tesaro, its oncology-focused business, submitted a supplemental new drug application to the US Food & Drug Administration for its Zejula cancer treatment.
Director dealings: Burberry CFO ups stake
Burberry revealed on Monday that chief operating officer and financial officer Julie Brown had acquired 24,051 ordinary shares in the iconic British fashion outfit.
Sector movers: Grocers slip as investors eye digital threat
Grocers and General Retailers paced losses at the start of the week amid negative read-across from corporate transactions elsewhere in their respective sectors.
Broker tips: Carnival, Petra Diamonds, Melrose Industries, BT, Vodafone, Entertainment One
Barclays has cut its recommendation for cruise operator Carnival over concerns earnings will continue to suffer from weak European demand.
Berenberg initiates coverage on Entertainment One at 'buy'
Analysts at Berenberg coverage coverage on shares of Canadian distribution and production firm Entertainment One at 'buy' with a 475p target price on Monday, noting that although the rise of subscription services such Netflix and Spotify had disrupted some of its traditional revenue lines, revenue from structural growth activities now outweighed income from the disrupted segments.
FTSE 250 movers: Dixons dips, PZ Cussons bubbles up
London's FTSE 250 edged 0. 02% lower to 19,321. 05 in afternoon trade on Monday, as Dixons Carphone was under the cosh yet again following a profit warning last week.
US open: Stocks start the session higher amid heightened geopolitical tensions
Wall Street stocks added to solid gains already seen this month at the start on the first day of trading this week despite geopolitical tensions remaining firmly in focus.
CentralNic completes debut bond issue amid strong trading
Internet domain name sales company CentralNic Group announced a successful placement of senior secured debt, as well as “strong trading” for the first four months of the financial year on Monday.
CIP Merchant Capital syndicates minority stake in Italy vet clinic chain
CIP Merchant Capital announced on Monday that, further to its announcement on 7 December last year regarding its investment in private Italy veterinary clinics chain 7Star, it had now successful syndicated a minority stake of its aggregated investment in 7Star to certain investors.
Tekcapital portfolio company Salarius secures new order for 'MicroSalt'
Intellectual property-focussed investment company Tekcapital announced on Monday that its portfolio company Salarius has secured and delivered a new order for ‘MicroSalt’ from a Mexican seafood company, for use in their dried shrimp snacks.
Galileo Resources exercises right to acquire rest of Enviro Zambia
Galileo Resources announced on Monday that, under the binding heads of terms it announced on 13 September last year, it has exercised its right at its sole election and risk to proceed to the completion of the proposed transaction, acquiring the Kabwe residual rights - including the Kashitu Zinc willemite exploration prospect - and the remaining 15% of the shares that it did not already hold in Enviro Zambia.
FTSE 100 movers: Admiral boosted by upgrade; supermarkets retreat
London's FTSE 100 was up 0. 2% to 7,424. 73 in afternoon trade on Monday, with little in the way of corporate news flow.
Tri-Star upbeat on SPMP progress as ramp-up approaches
Minerals processing company Tri-Star Resources updated the market on the operations of Strategic & Precious Metals Processing (SPMP), the owner of an antimony-gold processing facility in the Port of Sohar Free Zone in Oman, on Monday.
Morgan Stanley sees little upside left on Wall Street
Strategists at Morgan Stanley believe the US stock market may be headed for a 10% correction if the economic data continues to worsen over the course of the third quarter.