Our analysts have their fingers on the pulse of the world's financial market news.
Glencore (-4.66%) is to hire BoFA and UBS to advise on its copper mine sales. The battle to cut its’ debt load is in many respects impacting the value of the company too as the depletion in assets ramps up. The share price may have bounced from its lows in recent days but investor confidence is not exactly on fire and this is materialising in the lack of sustained upside.
VOLKSWAGEN (-0.75%) Seeks €3bn in cost cuts at suppliers. Volkswagen is likely to reduce employee profit-sharing bonus from €5,900 per employee last year. Cost cutting aside, the reputational damage done to the company and the as yet unknown costs that will be associated with the scandal are likely to weigh on the share price over the near term.
BARCLAYS (-1.21%) It’s never pleasant when a company share price moves negatively on the back of a CEO entrance or departure. But the news that former J.P. Morgan Chase executive James Staley is set to be its next CEO isn’t exactly pumping the stock higher just yet. The bank has selected their candidate but deal is not yet done. Jes Staley has not yet signed a contract + regulatory approval pending. This appointment is likely to be made official in the coming weeks.
ROYAL DUTCH SHELL (-1.45 e The oil company is selling two assets in the North Sea as the big energy companies respond to high production costs and a massive decline in crude prices both historic and let’s be honest imminent. Shell is endeavouring to offload its 50% stake in the Gannet field and its 26% holding in the Triton vessel operated by Dana Petroleum.
ROYAL MAIL( -4.43%) - The U.K. government has sold its remaining 14% stake in Royal Mail Group Plc to institutional investors.
LMVH (-3.36%): reported third-quarter revenue that exceeded analysts’ estimates, boosted by growth in Europe, the U.S. and Japan. Total revenue for the quarter climbed 16% to €8.58 billion ($9.76 billion). Expectations were for € 8.53 billion
Ladbrokes (+1.23%) — an upgrade from Citi to neutral is helping the stock rise this morning. Citi has stated that upside and downside risks are broadly balanced and give a price target to 110p (from 100p), the mid-way point between the upside from a deal and the downside from no merger agreement with Gala Coral. Citi price target now implies a 3.9% upside from present levels.
GlaxoSmithKline (+1.03%): Upgraded to neutral from underweight by JP Morgan
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
Wall Street traded higher overnight shrugging off trade tensions, amid rallying tech stocks led by Apple and a 2% gain in oil prices. Meanwhile, Europe is looking to take the lead from the US with European bourses broadly looking to start the session on the fr…Read more