Market News Feed
ALL-MARKETS
Default all-market view
AI Daily 5 entries
LONDON MARKET CLOSE: Stocks end week in red, Brent price retreats
- London stock prices closed lower on Friday, with the FTSE 100 down 1.4% at 9,918.33, despite airline stocks showing recovery.
- UK 10-year Gilt yields hit 5%, a level last seen during the 2008 financial crisis, according to IG's Axel Rudolph.
- Oil prices retreated slightly to USD109.78 per barrel, influenced by Israeli assurances of no further strikes on Iran's energy infrastructure.
- Airline stocks performed well, with easyJet and International Consolidated Airlines up 1.0%, and Wizz Air up 1.6%.
- JD Wetherspoon fell 11% after issuing a profit warning due to rising costs.
- Gold prices dipped to USD4,593.70 per ounce.
- Cloudbreak Discovery gained 17% on plans for a drilling program at the Darlot West gold project.
- UK net borrowing in February reached GBP14.33 billion, the second-highest figure outside the Covid-19 pandemic.
- Household energy bills in the UK could rise by GBP332 or 20% annually in July due to wholesale price increases.
- European equities closed lower, with the CAC 40 down 1.8% and the DAX 40 down 1.9%.
- The pound weakened against the USD and EUR, while the USD strengthened against the yen.
- US stocks were lower, with the Dow Jones down 0.4%, S&P 500 down 0.7%, and Nasdaq down 1.1%.
- US Treasury yields widened, with the 10-year yield at 4.37% and the 30-year yield at 4.94%.
- Investors are pricing in a more hawkish Federal Reserve due to concerns about sustained inflationary pressures from the Middle East conflict.
LONDON MARKET MIDDAY: FTSE 100 up in choppy trading as bonds fall
- Stock prices in London were higher at midday on Friday, with the FTSE 100 up 0.1% and the FTSE 250 up 0.3%.
- UK borrowing costs hit their highest level since 2008, driven by increased government borrowing and inflation fears.
- Oil prices fluctuated, with Brent crude initially falling to USD105 but later spiking to USD111 on reports of potential US action in Iran.
- Sterling rose against the USD to USD1.3394 but fell against the euro to EUR1.1576.
- European equities were mixed, with the CAC 40 up 0.3% and the DAX 40 up 0.1%.
- US stocks were called lower, with the Dow Jones, S&P 500, and Nasdaq expected to open down 0.4%, 0.5%, and 0.7% respectively.
- easyJet led the FTSE 100 with a 3.2% gain, while Unilever shares rose 1.1% on news of a potential sale of its Foods business to McCormick & Co.
- JD Wetherspoon shares plummeted 14% after warning of lower-than-expected annual profits due to higher costs and consumer financial pressures.
- TheWorks.co.uk shares jumped 18% after announcing a shift to a non-transactional website and upgraded financial guidance.
- Gold prices rose to USD4,682.50 an ounce by midday Friday.
LONDON BROKER RATINGS: HSBC raises BP; RBC cuts Antofagasta
- HSBC raises BP to 'hold' (reduce) - price target 565 (430) pence
- JPMorgan raises Centrica price target to 245 (224) pence - 'overweight'
- JPMorgan cuts Sage price target to 1,100 (1,300) pence - 'overweight'
- JPMorgan cuts Rio Tinto price target to 7,030 (7,220) pence - 'neutral'
- JPMorgan cuts Anglo American price target to 2,770 (2,800) pence - 'underweight'
- RBC cuts Antofagasta to 'underperform' (sector perform) - price target 2,800 (3,600) pence
- JPMorgan cuts Antofagasta price target to 3,100 (3,200) pence - 'neutral'
- Barclays cuts Marks & Spencer price target to 400 (420) pence - 'overweight'
- Berenberg raises Vodafone price target to 123 (119) pence - 'buy'
- Goldman Sachs cuts International Consolidated Airlines price target to 440 (470) pence - 'buy'
- Deutsche Bank Research raises Segro price target to 850 (800) pence - 'hold'
- Deutsche Bank raises Tritax Big Box REIT price target to 190 (180) pence - 'buy'
- UBS raises Softcat price target to 1,350 (1,225) pence - 'neutral'
- Barclays cuts Aston Martin Lagonda price target to 55 (75) pence - 'overweight'
- RBC cuts Domino's Pizza Group price target to 230 (250) pence - 'outperform'
- RBC raises IG Group price target to 1,600 (1,275) pence - 'outperform'
- Deutsche Bank Research raises IG Group price target to 1,600 (1,400) pence - 'buy'
- Goldman Sachs raises Harbour Energy price target to 250 (230) pence - 'sell'
- Goldman Sachs raises Ithaca Energy price target to 260 (240) pence - 'neutral'
- RBC cuts Atalaya Mining Copper to 'sector perform' (outperform) - price target 1,125 (1,525) pence
- Berenberg cuts Atalaya Mining Copper price target to 1,210 (1,270) pence - 'buy'
- Deutsche Bank Research cuts Unite Group price target to 640 (700) pence - 'buy'
- Deutsche Bank Research raises Hammerson price target to 370 (320) pence - 'hold'
- Deutsche Bank Research cuts Derwent London price target to 1,850 (2,000) pence - 'hold'
- Deutsche Bank raises Primary Health Properties target to 115 (114) pence - 'buy'
- Deutsche Bank raises Shaftesbury Capital price target to 185 (175) pence - 'buy'
- Shore Capital lifts Close Brothers to 'buy' from 'hold' - target price 495 pence (510p)
- RBC raises Sabre Insurance price target to 160 (135) pence - 'sector perform'
- Barclays starts CVS Group with 'equal weight' - price target 1,340 pence
- Goldman Sachs cuts Magnum Ice Cream to 'sell' (neutral) - price target 13 (13.70) EUR
- RBC cuts Central Asia Metals to 'underperform' (sector perform)
- Deutsche Bank Research cuts Jet2 price target to 1,457 (1,596) pence - 'buy'
LONDON MARKET OPEN: FTSE 100 rises as steady oil price boosts airlines
- FTSE 100 opened higher by 0.4% at 10,107.86, rebounding after oil prices steadied.
- Airlines rose as oil prices fell: IAG (+3.2%), easyJet (+2.9%), Wizz Air (+3.8%).
- Oil majors BP (-2.1%) and Shell (-1.0%) retreated.
- European equities also climbed: CAC 40 (+0.7%), DAX 40 (+1.2%).
- Sterling strengthened against USD (1.3422) and EUR (1.1601).
- Brent oil traded lower at USD108.99 per barrel.
- UK public sector borrowing rose to GBP14.33 billion in February, second-highest since 1993.
- Smiths Group fell 5.5% after reporting lower earnings.
- Unilever (+1.3%) confirmed talks with McCormick & Co. for its Foods business.
- JD Wetherspoon shares sank 12% on profit warning due to higher costs and consumer pressure.
- Gold rose to USD4,690.90 per ounce.
LONDON MARKET EARLY CALL: FTSE 100 to edge up as oil price steadies
- London stocks expected to open slightly higher on Friday, with FTSE 100 futures up 4.2 points to 10,067.70.
- Oil prices retreated after Israeli PM Netanyahu stated the war with Iran would end sooner than expected, with Brent oil down to USD108.11 per barrel.
- Sterling rose to USD1.3406 against the dollar but fell slightly to EUR1.1594 against the euro.
- Euro strengthened to USD1.1563, while the dollar rose to JPY158.40 against the yen.
- Netanyahu claimed Israel and the US are "winning" and Iran is "decimated," with no capacity to enrich uranium or manufacture ballistic missiles.
- US President Trump confirmed coordination with Netanyahu, advising against attacking Iranian gas fields.
- Central banks (BoE, ECB) held rates steady; traders monitoring economic data and corporate earnings.
- Wall Street closed lower on Thursday; Asian markets (Shanghai, Hang Seng, ASX 200) also declined on Friday.
- Gold prices rose to USD4,669.50 per ounce.
- Upcoming economic data includes UK public sector borrowing, German producer inflation, and eurozone trade balance.
- Corporate calendar highlights: JD Wetherspoon and Smiths Group to report half-year results.
All Market News Today 500 headlines
TTE
16:26
TotalEnergies SE
ATR
15:45
Schroders Investment Trusts - Schroder Asian Total Return Investment Company plc
CCL
15:01
Carnival PLC
BLND
12:27
British Land Company PLC
AI 0 headlines
Acquisitions 0 headlines
Agreement 2 headlines
Approvals 1 headlines
Authorisation 0 headlines
Awards 0 headlines
BTC 0 headlines
Blockchain 0 headlines
Breakthrough 0 headlines
BuyBack 1 headlines
Cancellations 1 headlines
CashOffer 0 headlines
Collaborate 0 headlines
ContractWin 0 headlines
Covid-19 0 headlines
Deals 0 headlines
Diamond 0 headlines
DirectorDealing 45 headlines
Discovery 0 headlines
Exceeded 0 headlines
FCA 0 headlines
FDA 0 headlines
Grants 0 headlines
InvestmentPlan 0 headlines
JV 0 headlines
Launch 0 headlines
Litigation 0 headlines
NewContract 1 headlines
Offers 3 headlines
Offtake 0 headlines
Orders 0 headlines
Partner 0 headlines
Patents 0 headlines
Placing 9 headlines
Positive 0 headlines
Proposals 0 headlines
Reports 21 headlines
Results 9 headlines
ATR
15:45
Schroders Investment Trusts - Schroder Asian Total Return Investment Company plc