Market Pulse
Bank of America- Merrill Lynch sees FTSE 100 at 7,750 in 12 months
Bank of America-Merrill Lynch thinks demand for commodities and the global cycle will push the FTSE 100 to 7,750 points in 12 months' time.
Morgan Stanley downgrades Berendsen on competition concerns
Berendsen not only needs to invest in property, plant and equipment but is facing increasing competition in the UK, warned Morgan Stanley as it downgraded the stock on Friday.
UK mortgages and consumer credit card borrowing both decline - BBA
Mortgage approvals and consumer credit card lending both fell in March according to fresh data from the banking industry, providing the reason for the fall in house prices announced elsewhere on Friday.
Full year losses widen at Directa Plus
Graphene-based products producer and supplier Directa Plus announced its full year results for the year to 31 December on Friday, with revenue from graphene sales increasing by 89% to €0. 74m.
Regal Petroleum makes solid progress in Ukraine
Oil and gas exploration and production group Regal Petroleum announced its audited results for the year to 31 December on Friday, with average production from the MEX-GOL and SV fields in Ukraine over the year standing at 1,321 barrels of oil equivalent per day in aggregate, compared to 1,274 boepd in 2015.
Greka Drilling pleased with position despite fall in activity
Asia-focussed independent and specialised unconventional oil and gas driller Greka Drilling announced its annual results for the year to 31 December on Friday, confirming three principal contracted counterparties during the year - Green Dragon Gas and PetroChina Huabei in China, and Essar Oil in India.
Asia report: Most markets lower after Trump points threats at Seoul
Markets in Asia were lower on Friday, after a series of threats from Donald Trump aimed at Seoul and the Korean peninsula caught investors off guard.
Uber to introduce sick pay for drivers, but some will have to pay for it
Ride-hailing tech firm Uber Technologies is to introduce a system to provide its drivers with benefits such as sick and injury pay in the UK after years of criticism of the company’s employment practices.
Europe midday: Stocks rise amid strong fund flows, economic data
European stocks were seeing some buying interest after data showing inflows into euro area stocks were at their strongest since December 2015 and following the release of several stronger than expected reports on the Eurozone economy, including on money supply dynamics and consumer prices.
London midday: Stocks slip as pound gains after GDP data
London stocks had slipped into the red by midday, led lower by a stronger pound and uninspiring UK growth figures.
US pre-open: Stocks seen muted ahead of GDP, earnings
US futures pointed to a muted open on Wall Street a day after the Nasdaq closed at a record high ahead of some key earnings from the technology sector and as investors eyed first-quarter GDP figures.
RBS swings to quarterly profit as share reshuffle paves way for dividend
Royal Bank of Scotland broke into the black in the first quarter of 2017, the first quarterly profit since 2015 as income, costs and margins all improved.
UK Q1 GDP - Analysts react
"Within the details of the latest GDP release, sectors with exposure to household spending had the biggest negative impact on growth. For example, the distribution, hotels and restaurants sector saw a contraction of 0. 5% of GDP, which was the first fall for the sector since the end of 2012. The transport, communication and storage sector also saw its first contraction since 2013. Looking ahead, unless households manage to achieve higher pay growth, we are likely to see the cost of living squeeze continue into the second quarter.
Euro jumps as core CPI outstrips economists' forecasts in April
Consumer prices in the euro area beat forecasts by a comfortable margin in April, especially at the 'core' level, as services prices accelerated.
HSBC downgrades Stagecoach, positive on National Express
Analysts at HSBC downgraded their recommendation and lowered their target price on shares of Stagecoach, in light of the company's "high levels" of off-balance sheet debt together with continued concerns around its rail franchise and UK bus operations.
Salt Lake Potash shares suspended on ASX
Salt Lake Potash announced on Friday that the trading in its shares had been temporarily suspended on the ASX in Australia at its own request, pending an announcement on a potential further capital raising to investors in that country.
Takeover bid from Japan Tobacco on Imperial Tobacco extremely unlikely, Citi says
A takeover bid for Imperial Tobbaco from its Japanese rival, Japan Tobacco was unlikely, analysts at Citi said.
Action Hotels chairman accepts major regional industry award
Owner, developer and asset manager of branded three and four-star hotels in the Middle East and Australia Action Hotels announced on Friday that H. E. Sheikh Mubarak Al-Abdullah Al-Mubarak Al-Sabah, founder and chairman of the company, had been awarded the “prestigious” Industry Pioneer Award at the Arabian Hotel Investment Conference 2017.
Tlou Energy makes solid operational progress in Botswana
Botswana and southern Africa-focussed coalbed methane developer and power company Tlou Energy provided an operational report on its Lesedi Project in Botswana for the quarter to 31 March on Friday.
