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Ex divs are taking some 2.91 points from the FTSE today, including Aviva, WPP, Next, Kingfisher, Smith & Nephew, Travis Perkins.
TESCO (-0.61%) UBS ‘’We see scope for Tesco to recover trading and earnings momentum in the UK over the next 2-3 years; the business is relatively well differentiated versus peers and we think management's initiatives to improve service and availability will be rewarded’’ UBS have a Buy recommendation PT 245p from 250p
Shire PLc +1.25%: Cosmo Patent for Shire’s Lialda to Be Reviewed by Patent Office
Hedge-fund manager Kyle Bass persuaded the U.S. Patent and Trademark Office to take a second look at a patent that protects Shire Plc’s colitis medicine Lialda from generic competition.
Bass’s Coalition for Affordable Drugs has a “reasonable likelihood” of proving that the patent is invalid, the U.S. Patent and Trademark Office said in a decision posted on its website. A trial will be held with both sides making arguments, and a final decision is expected in 12 months.
Deutsche Bank +0.16%: 3Q15 Profit Warning & Major Write- Downs Charges of €7.6bn - Deustche has announced an impairment of €5.8bn on goodwill and intangibles of CB&S and PBC, a €0.6bn write-down of the 20% stake in Hua Xia Bank and an extra €1.2bn litigation provision. Citi on DB ‘Importantly the first two charges will have no significant impact on capital. Meanwhile the latter is only €0.2bn heavier than consensus expectations.’ The stock had initially dropped at the open by 6% but has recovered. Still remains in a long term downtrend and would need to break above EUR28 per share to provide a real bull case. Dividend cut also makes fears of a capital raise less likely hence the lack of significant downside.
European markets look set to turn lower at the start of trading on Monday. The new US and Chinese tariffs take effect today so traders in Asia and Europe look cautious. Both continents are more exposed to global trade than the US. For markets, the new tariffs …Read more
Whilst risk sentiment has been healthy across the week, this swelling optimism boosted US stock markets to an all-time high overnight. A rally in tech stocks, which have done a lot of lifting for the indices over the year, in addition to fading concerns over U…Read more
Despite a shaky end to trading on Wall Street overnight, which saw the Dow gain 0.6%, the S&P just 0.1% and the Nasdaq slip by the same, Asian markets moved broadly higher on improved sentiment. European bourses are taking the lead from the US over Asia, w…Read more
Asian markets took the lead from Wall Street overnight, rallying as the latest tit for tat measures in the escalating trade spat have not been quite as severe as the markets had been expecting. Tech stocks were also heavily in demand, bouncing back after steep…Read more
Traders are faced with a sea of red in risk-off trading as markets are set to open on Tuesday. Despite the fact the market has been expecting an escalation in trade tensions between the world’s two largest economies with further tariffs from Trump; the reality…Read more
Escalating trade tensions will once again be a central theme to driving sentiment and trading this week, with President Trump widely expected to levy tariffs on a further $200 billion worth of Chinese imports, potentially as soon as today. The elevated trade c…Read more
European bourses are set to take the lead from a positive session on Wall Street and Asia overnight. A drive higher from tech stocks on Wall Street helped lift Asian equities after their recent battering, pulling them off 2-year lows.
Asian markets were endin…Read more
Today will be a busy day for traders with 2 central bank rate decisions and US inflation data all due for release within a few hours of each other. The BoE monetary policy announcement will kick things off, followed shortly after by the ECB rate announcement a…Read more