Market Pulse
Buy Spain as political risk is 'overstated' - Credit Suisse
Spanish equities look unusually cheap, said Credit Suisse on Tuesday, as political risk is "overstated" and the country is on track for at least 3% growth, with employment, housing and construction all on a growth tear.
London close: Stocks move lower even as Sterling slips
London stocks closed lower on Tuesday even as the pound fell back against the dollar, albeit following a brief pop higher after data showed inflation surged to a five-year high last month, amid somewhat dovish remarks from Bank of England policymakers.
Credit Suisse cuts Tate and Lyle's target price, reiterates 'neutral' rating
Ahead of Tate & Lyle's interim results on 2 November, Credit Suisse updated its forecasts and cut its target price to 710p while reiterating its 'neutral' rating.
Director dealings: Beazley executive director sells after profit warning
Adrian Cox, executive director of risk insurance and reinsurance group Beazley, sold 180,009 shares in the company on Tuesday at the price of 500p per share.
US open: Dow Industrials clambers atop 23,000 mark for first time
The Dow Industrials climbed past the 23,000 points mark for the first time ever, as the third-quarter earnings season got into full swing, and then slipped lower.
Higher inflation means benefits pain for households, says IFS
State benefits for roughly 10m UK families will be reduced by £450 a year in real terms after inflation reached its highest level in five years on Tuesday, the Institute for Fiscal Studies calculated.
FTSE 250 movers: Virgin Money gains on update, Workspace boosted by JPM note
London's FTSE 250 was down 0. 4% to 20,140. 65 in afternoon trade on Tuesday.
Johnson and Johnson raises full year targets after strong third quarter
Healthcare giant Johnson and Johnson posted higher than expected profits for the three months to 30 September thanks to increased demand for its new cancer drugs and the additional revenue afforded to the group from its June acquisition of Swiss biotech company Actelion.
AIM newcomer Cora Gold enters drilling agreement with Target
West Africa-focussed gold exploration company Cora Gold announced on Tuesday that its wholly-owned subsidiary Cora Gold Mali has entered into a contract with Target Drilling, to supply aircore, reverse circulation and diamond core drilling, focusing primarily on its flagship Sanankoro Gold Discovery in South Mali.
CloudCall raises £3.7m through two placings
Cloud-based software business CloudCall announced on Tuesday that it has raised approximately £3. 5m before expenses, by way of a placing of 2,457,774 new ordinary shares at 143. 5p.
Stratex offloads stake in Goldstone Resources
Gold exploration and development company Stratex announced the sale of its 13. 7% stake in Goldstone Resources to institutional investors on Tuesday, at a price of 1. 6p per share, for total cash consideration of £0. 55m.
NAHB housing market index hits five-month high in October
Sentiment among US housebuilders unexpectedly improved in October, according to data released on Tuesday.
Fuel costs goose US import prices higher in September
Dearer fuel imports boosted the cost of overseas goods last month, albeit alongside similar-sized gains in export prices.
Flowtech Fluidpower pumps out solid third quarter
Specialist technical fluid power products supplier Flowtech Fluidpower updated the market on its trading following its third quarter to 30 September on Tuesday, reporting that group revenue during the first nine months of the year was up 34. 4%.
FTSE 100 movers: Pearson surges on results but Merlin gets clobbered
London's FTSE 100 was up 0. 3% to 7,546. 11 in afternoon trade on Tuesday as investors digested the latest UK inflation figures.
RhythmOne expecting bumper first half amid acquisition spree
RhythmOne updated the market on its expected performance for the half year to 30 September on Tuesday, reporting revenues of between $112m and $114m, up from $67m in the first half of the 2017 financial year, which the company said was driven by “programmatic platform growth”.
US industrial production misses forecasts in September
Industrial production in the US rose as expected last month but amid downwards revisions to readings for previous months, especially in manufacturing.
Chi-Med trials with AstraZeneca show preliminary anti-tumour activity
Hutchison China MediTech - commonly known as Chi-Med - announced on Tuesday that both it and AstraZeneca presented preliminary safety and clinical activity data of savolitinib when given in combination with either Tagrisso (osimertinib) or Iressa (gefitinib) in two Phase Ib/II proof-of-concept trials conducted in patients with epidermal growth factor receptor mutation-positive non-small cell lung cancer with MET-amplification, who had progressed following first-line treatment with an EGFR inhibitor.
WANdisco Fusion now fully integrated with Microsoft Azure Data Box
‘Active data replication’ specialist WANdisco announced on Tuesday that its patented technology, WANdisco Fusion, is now fully integrated with Microsoft Azure Data Box, enabling Microsoft customers to transfer information from ‘Big Data’ applications to Microsoft Azure without the downtime and cost usually involved in bulk data transfer over the network.
Carney and new MPC colleagues throw doubt on interest rate hikes
Two new members of the Bank of England's Monetary Policy Committee cast some doubt on the likelihood of an increase in interest rates in November, though Governor Mark Carney said a hike "may be appropriate" and many economists remained confident of a hike.