Market Pulse - Europe
French vote to keep European Union and euro alive (for now)
France voted to keep the euro alive at the weekend but the overall results laid bare an increasingly fragmented political landscape, leading some to question whether the winner, centrist Emmanuel Macron, will really be able to effect positive change - more importantly, whether the French truly want it.
Directors dealings: Bovis Homes's new chief builds for the future
Housebuilder Bovis´ new boss, Greg Fitzgerald, and his spouse picked up a large batch of shares in the company he now calls home.
Bonds: French bonds jump, periphery bonds wanted
These were the movements in some of the most widley-followed 10-year sovereign bond yields: US: 2. 28% (+3bp)UK: 1. 05% (+2bp) Germany: 0. 33% (+8bp)France: 0. 83% (-11bp)Spain: 1. 61% (-9bp)Italy: 2. 18% (-8bp)Portugal: 3. 56% (-19bp)Greece: 6. 45% (-19bp)Japan: 0. 02% (+1bp).
Elliott Capital Advisors discloses 6.8% stake in WS Atkins
Activist hedge fund Elliott Capital Advisors has taken a 6. 8% stake in rail, telecoms and defence engineer WS Atkins.
BofA-Merrill sees upside for European stocks after Macron win at the polls
Strategists at Bank of America-Merrill Lynch sounded a confident note on the outlook for European equities after Macron's win at the polls over the weekend, telling clients they saw ample potential upside for their.
Sector movers: Construction stocks, banks lead gains
Cyclicals were clearly in the lead at the start of the week with a win for France's centrist presidential candidate at the weekend, stoking risk apettite across the globe.
FTSE 250 movers: Kennedy Wilson surges but Tritax slumps
London's FTSE 250 was up 1. 2% to 19,597. 79 in afternoon trade as investors bet that centrist Macron will beat far-right nationalist Marine Le Pen in the second round of the French elections.
Shell inks deal to help finance Nordstream 2 pipeline
Five European energy outfits, incluging Royal Dutch Shell, agreed to provide Nordstream 2 AG up to €950. 0m of funds to help build the new pipeline linking Russia's natural gas reserves directly with European consumers, roughly doubling the existing capacity of Nordstream 1.
FTSE 100 movers: Smurfit lifted by Goldman note; utilities slump
London's FTSE 100 was up 2. 1% to 7,2634. 30 in afternoon trade as investors welcomed the outcome of the first round of France's Presidential elections.
Eurozone banks is where the money is, JP Morgan says
Emmanuel Macron's win at the weekend could spark an up to 10% re-rating in Eurozone equities in comparison to US stocks, strategists at JP Morgan said.
Greek bonds rally as EU confirms 2016 primary surplus at 4.2% of GDP
Greek government bonds rallied sharply after Brussels confirmed that Athens soundly beat its public deficit targets for 2016.
Urals Energy reorganises subsidiaries, sees tax advantages
AIM-listed Urals Energy has completed an international reorganisation of its subsidiaries which will streamline the management of the group and allow it to gain "modest tax advantages".
Goldman Sachs sees upside risks to production at Centamin
Analysts at Goldman Sachs told clients Centamin was their top-pick in the precious metals space as its open pit grade begins to ramp up in the second quarter of 2017 - with posible upside to production targets - and ahead of the likely return to investors of most of its cash.
French presidential election to mark start of dollar slide, HSBC says
Analysts at HSBC said the French presidential election could be a positive catalyst for the euro as markets moved to price-in less political risk and greater economic upside in the eurozone, but increased political uncertainty in the US would be negative for the dollar.
PPG Industries sweetens offer for AkzoNobel
Dulux owner AkzoNobel confirmed on Monday that it has received a third unsolicited and conditional takeover proposal from US chemicals manufacturer PPG Industries.
LafargeHolcim CEO to step down after Syria probe
The world's largest cement maker is looking for a new CEO after current LafargeHolcim boss Eric Olsen announced he was resigning in the wake of an investigation into the company’s operations in war-torn Syria.
London midday: Stocks rise as investors bet on Macron
London stocks were trading higher by midday, tracking their European counterparts amid expectations that centrist Emmanuel Macron will beat far-right candidate Marine Le Pen in the second round of the French election.
Centrica drops as UBS says energy tariff cap more likely
British Gas owner Centrica was under the cosh on Monday amid reports that the Conservative manifesto will include a cap on household energy bills, with UBS saying the snap election in June makes an energy tariff cap more likely.
German business confidence improves more than expected in April
German business confidence improved more than expected in April, according to a widely-followed survey.