Market Pulse - Europe
Sector movers: Diageo weighs on Beverages after costly takeover of Casamigos
Pharma and Industrial engineering shares are at the top of the leaderboard amid supportive news-flow and broker commentary.
Europe midday: Oil shares slip towards seven-month low
European markets were holding lower, with investors pushing Oil&Gas shares to near seven-month lows, albeit against a backdrop of positive economic data and heavy news-flow news regarding continued deal-making in the corporate space.
Goldman positive on StanChart but stays at sell on Barclays and Lloyds
Goldman Sachs stuck to a 'buy' recommendation on StanChart and 'sell' on Lloyds and Barclays after adjusting its earnings estimates for the sector to reflect recent market developments and ahead of the release of the Financial Policy Committee's Financial Stability Report on 27 June.
Ultra Electronics meaningfully undervalued, Investec says
Analysts at Investec reiterated their recommendation on Ultra Electronics, telling clients the shares were "meaningfully" undervalued with momentum in the company's orders set to continue.