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AI Daily 5 entries
LONDON MARKET CLOSE: HSBC supports FTSE 100 as blue-chips climb again
LONDON MARKET MIDDAY: Stocks rise as UK grocery sales pick up
- London stock prices mostly rose at midday on Tuesday, despite concerns about a potential power outage similar to the one in Spain and Portugal.
- UK grocery sales remained strong over the Easter period, with total sales up 4.0% and take-home sales benefiting from a later Easter.
- The FTSE 100, FTSE 250, and AIM All-Share indices all posted gains, while the Cboe UK indices were mixed, with the Cboe UK 100 and 250 up, and the Small Companies index down.
- Entain, a betting operator, reported a 9% increase in net gaming revenue and appointed Stella David as permanent CEO.
- AstraZeneca reported Q1 growth in revenue and pretax profit, but faces challenges in China and the prospect of US tariffs.
- Travis Perkins, a builders' merchant, saw a decline in total revenue but its Toolstation chain posted growth.
- Manolete Partners, an insolvency litigation financing firm, expects increased revenue and pretax profit for the year ended March 31.
- European equities were mixed, with the CAC 40 in Paris down slightly while the DAX 40 in Frankfurt posted gains.
- Germany's business associations are hopeful that the new economy minister, Katherina Reiche, will help boost the country's stagnant economy.
- The pound and euro were slightly lower against the US dollar at midday on Tuesday.
- Stocks in New York were called higher, while Asian markets were mixed, with Japanese markets closed for Showa Day.
- China expressed willingness to improve ties with Canada and blamed US tariffs for disrupting the aviation industry.
- Brent oil and gold prices were quoted lower at midday on Tuesday.
LONDON BROKER RATINGS: RBC cuts Ashtead, Barclays cuts Hammerson
- FTSE 100
- UBS cuts United Utilities to 'neutral' (buy) - price target 1,150 (1,195) pence
- UBS cuts National Grid to 'neutral' (buy) - price target 1,150 (1,160) pence
- RBC cuts Ashtead Group to 'sector perform' (outperform)
- Goldman Sachs cuts Ashtead Group price target to 5,290 (5,690) pence - 'neutral'
- Citigroup cuts Croda International target to 3,300 (3,550) pence - 'neutral'
- Goldman Sachs cuts Relx price target to 4,610 (4,689) pence - 'buy'
- JPMorgan cuts WPP price target to 730 (750) pence - 'neutral'
- Bank of America cuts WPP price target to 560 (610) pence - 'underperform'
- Bank of America raises St James's Place price target to 1,150 (1,100) pence - 'neutral'
- Bank of America raises Phoenix Group price target to 650 (620) pence - 'buy'
- Bank of America raises M&G price target to 242 (230) pence - 'buy'
- Bank of America cuts Beazley price target to 1,075 (1,100) pence - 'buy'
- Bank of America cuts Legal & General price target to 277 (280) pence - 'buy'
- Bank of America raises Aviva price target to 645 (620) pence - 'buy'
- Bank of America raises Admiral price target to 3,350 (3,250) pence - 'buy'
- Citigroup cuts Standard Chartered price target to 1,115 (1250) pence - 'neutral'
- Citigroup raises NatWest price target to 635 (615) pence - 'buy'
- Citigroup raises Antofagasta price target to 2,000 (1,750) pence - 'buy'
- FTSE 250
- Morgan Stanley cuts Deliveroo to 'equal-weight' - price target 180 pence
- Barclays cuts Hammerson to 'underweight' (equal weight) - price target 245 (295) pence
- Citigroup cuts Inchcape price target to 1,163 (1,194) pence - 'buy'
- Goldman Sachs cuts Burberry price target to 1,055 (1,160) pence - 'neutral'
- JPMorgan cuts Ninety One price target to 132 (149) pence - 'underweight'
- Bank of America raises Quilter price target to 162 (160) pence - 'neutral'
- Citigroup raises AJ Bell price target to 335 (325) pence - 'sell'
- SMALL CAP
- Shore Capital cuts RWS Holdings to 'hold' (buy)
- Bank of America cuts Old Mutual price target to 46.1 (57.2) pence - 'underperform'
- Citigroup cuts Flutter Entertainment price target to 25,000 (26,000) pence - 'buy'
LONDON MARKET OPEN: AB Foods and BP report on-year profit falls
- London stock prices opened higher on Tuesday, with the FTSE 100, FTSE 250, and AIM All-Share all posting gains.
- UK Prime Minister Keir Starmer congratulated Mark Carney on his election as Canada's new Prime Minister, highlighting the strong relationship between the two countries.
- Howden Joinery led the FTSE 100 with a 6.2% increase after a positive trading update, while Associated British Foods lagged, falling 9.2% following a decrease in revenue and profit.
- BP reported a decline in profit and revenue for the first quarter, causing its share price to drop 3.7%.
- Travis Perkins topped the FTSE 250, up 2.9%, despite a revenue decline, while THG fell 1.6% after reporting widened losses.
- Xtract Resources led gains on the AIM with a 31% jump following positive test results from its Silverking project in Zambia.
- Prospex Energy lost 13% after announcing a production pause at its Viura field due to a leak.
- European equities were mixed, with the CAC 40 flat and the DAX 40 up 0.4%. The pound, euro, and yen strengthened against the dollar.
- Asian markets were mostly positive, with the exception of the Shanghai Composite, which dipped 0.1%. The Hang Seng and S&P/ASX 200 posted modest gains.
- Wall Street closed higher on Monday, with the Dow and S&P 500 up, while the Nasdaq fell slightly.
- Brent oil and gold prices were lower on Tuesday morning.
- Upcoming economic data includes consumer confidence figures from the US and EU, as well as GDP and retail sales data from Ireland.
LONDON MARKET EARLY CALL: Stocks rise, UK food inflation speeds up
- London stocks are expected to open higher on Tuesday, with the FTSE 100 index predicted to gain 0.2% at the open.
- UK shop price deflation slowed in April, with non-food deflation easing and food price inflation accelerating.
- Sterling and the euro are both higher against the US dollar early Tuesday, while the dollar weakens against the yen.
- Wall Street closed mixed on Monday, with the Dow and S&P 500 up slightly while the Nasdaq fell.
- Asian markets are mostly positive on Tuesday, with the Nikkei and S&P/ASX 200 up, while Chinese indices are marginally lower.
- Gold and Brent oil prices are down from Monday's close.
- Associated British Foods and AstraZeneca are releasing results on Tuesday.
- HSBC reported a drop in profit for the first quarter, cut its dividend, and announced a share buyback programme.
- Spain and Ireland are releasing GDP data on Tuesday.
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