MARKET PULSE
18 Feb
Europe midday: Stocks edge lower, Nestlé results disappoint
Nestle Mexico

European equity markets drifted lower on Thursday weighed down by weak results from Swiss consumer goods giant Nestlé amid wider profit-taking following several days of gains, while some bank stocks were buoyed by “massive” prospective tax plans from President Donald Trump.

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17 Feb
Bonds: Fed´s Fischer strikes measured tone
cbfed9292

These were the movements in the yields of some of the most widely-followed 10-year sovereign bonds:.

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16 Feb
US close: S&P takes a breather after seven-day run
cisco

Some steam escaped from the S&P 500 and Nasdaq after their seven-day winning spree, though the Dow was lifted by a handful of tech stocks while the dollar fell.

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16 Feb
HMRC forces Argos to pay £3.2m for staff underpayments
sainsburys, argos, home

Argos, part of the supermarket group Sainsbury's, has been being made to pay £2. 4m in back wages and a £1. 5m fine after an HMRC investigation found the retailer had been paying less than the legal minimum wage to thousands of workers.

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16 Feb
Two huge machines about to extend Tube to Battersea

Transport for London confirmed a major milestone in the construction of the Northern line extension had been reached on Thursday, with the lowering of two giant tunnel boring machines 20 metres below ground in Battersea, ahead of the start of tunnelling in March.

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16 Feb
Europe close: Banks' run higher stalls at technical resistance
deutsche-bank-aurait-besoin-de-beaucoup-de-capitaux

European equity markets drifted lower weighed down by weak results from Swiss consumer goods giant Nestle amid wider profit-taking following several days of gains on hopes around President Donald Trump's prospective tax plans.

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16 Feb
Snapchat IPO to aim for $22.2bn valuation
Snapchat Discover

Parent company of social media app Snapchat, Snap Inc. , has set a valuation of between $19. 5bn and $22. 2bn for its flotation on the New York Stock Exchange.

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16 Feb
Microsoft raises price of Surface computer in UK
CEO Microsoft Satya Nadella

US tech giant Microsoft is the latest multinational company feeling the pinch in the UK, after it announced that it would be raising the price of its Surface laptops by between £150 and £400.

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16 Feb
JP Morgan to move mortgage applications online

Investment banking giant JPMorgan Chase Co is taking steps to move its mortgage application and process to a digital platform, according to consumer mortgage chief Mike Weinbach.

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16 Feb
Directors dealings: Phoenix Group buys in near five-year highs
calculatrice-et-trombones-comptes-entrepreneurs-entreprises-argent-finances-tpe-pme-entreprenariat-finances-banques-startup-business-plan-argent

Phoenix Group non-executive director Wendy Mayall bought into the company's shares roughly a month after the life insurance fund consolidator said it hit its 2016 target for cash regeneration of £486. 0m.

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16 Feb
Sterling weakness lifts a confident Trifast
money pounds cash

Trifast issued an unaudited trading update for the third quarter on Thursday, saying that on a constant currency basis, the company experienced a continuing strong performance across its main geographies.

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16 Feb
Friday preview: Hopes UK retail sales can improve weak week
next, retail, shoes, high street, fashion, shops

UK retail sales will be London's macro focus on Friday, while for larger company news only mid-caps Essentra, Kingspan and Segro are scheduled to report results.

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16 Feb
Sector movers: Aerospace & Defence and Oil & Gas drag market lower
cobham, aerospace, plane, refuel, jet, airforce

Stocks in the aerospace and defence space bore the brunt of selling after Cobham warned on profits for the fifth time in just over a year.

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16 Feb
Custodian sells Wetherspoon pub for 12.8pc premium
libras

UK property investment company Custodian announced the disposal of a property from its portfolio on Thursday.

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16 Feb
Commodities: Gold higher as investors ponder longevity of equities run-up

Gold is trading higher on Thursday, with both classes of crude oil also up, as investors like the safe-haven yellow metal amid nascent jitters on how long the global equities run-up can last.

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16 Feb
US open: Stocks largely unchanged as investors mull potential March rate hike
liberty

US equity markets struggled to find direction on Thursday, unable to maintain yesterday's record highs as investors mulled a potential interest rate hike by the Federal Reserve in March and the dollar weakened.

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16 Feb
Small cap news round-up
Money pounds sterling

88 Energy Oil and gas explorer 88 Energy said that Doyon Drilling’s Arctic Fox rig is to move to the Icewine 2 appraisal well in April after the completion of drilling on a nearby acreage.

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16 Feb
Smiths Group launches 10-year EUR650m bond offering
smiths group, detection, air, security, xray, airline, airport

Diversified engineer Smiths Group has launched and priced a €650m bond offering for general corporate funding purposes and to repay certain existing debt as it falls due.

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16 Feb
US central bank nearly where it wants to be, Fed's Fischer says
fischerstanley

A top US central bank official voiced confidence on the economic outlook and the expected path for future interest rate hikes, but shied away from providing precise guidance.

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16 Feb
AstraZeneca partner Valeant gets US FDA approval for Siliq injection
Pharmaceuticals, drugs, health, medical, tablets

AstraZeneca's partner Valeant Pharmaceuticals has received approval from the US Food and Drug Administration for the Siliq injection to treat adult patients with moderate-to-severe plaque psoriasis.

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