Week Ahead: B&M, Broadcom results eyed; payrolls in the spotlight
Next week sees the release of results from the likes of B&M European Value Retail in the UK, while US quarterly earnings from Broadcom and CrowdStrike will be in focus, along with the latest non-farm payrolls report.
London close: FTSE edges lower as investors mull prospect of peace
London stocks ended a little lower on Friday, unable to hold on to earlier gains as investors mulled the prospect of a peace deal between the US and Iran.
Europe close: Stocks mixed as oil prices ease
European stocks closed mixed on Friday as investors grew more hopeful that the US and Iran could reach an agreement to extend their fragile ceasefire and begin talks on Tehran’s nuclear programme.
Weekly review
The FTSE 100 ended the bank holiday-truncated week down 33. 83 points, or 0. 32%, closing at 10,409. 28 on Friday.
Broker tips: BT, B&M, Wickes, Currys, Dunelm
Analysts at Berenberg hiked their target price on telecommunications giant BT Group from £2. 50 per share to £3 on Friday, after the firm reported that trends in its consumer business had improved in the fourth quarter of its trading year.
Director dealings: Auction Technology CEO snaps up shares
Auction Technology Group revealed on Friday that chief executive Duncan Painter had acquired 237,500 ordinary shares in the London-listed digital marketplace business.
BoE's Bailey says above‑target inflation tolerable for now amid Middle East uncertainty
Bank of England governor Andrew Bailey said on Friday that allowing inflation to sit above the central bank's 2% target was justified for now, given the uncertainty created by the Iran war and the UK's weak growth backdrop.
FTSE 250 movers: Ocado surges on Asda deal; retailers hit by downgrades
London’s FTSE 250 was up 0. 5% at 23,449. 04 in afternoon trade on Friday.
Clean Power Hydrogen shares suspended after incident causes 'significant' damage
Clean Power Hydrogen said on Friday that its shares had been suspended from trading on AIM after an incident during final factory acceptance testing of its 1MW MFE220 unit caused significant equipment damage and left the company facing a constrained working capital position.
US open: Stocks rise despite renewed ceasefire fears
Major indices were in the green early on Friday as market participants kept a keen eye on the conflict in the Middle East, with the fragile ceasefire between Iran and the US seemingly breaking down.
FTSE 100 movers: Autotrader rallies; Pearson, Relx in the red
London’s FTSE 100 was down 0. 1% at 10,419. 63 in afternoon trade on Friday.
Pulsar Helium acquires acreage at flagship Topaz project
Pulsar Helium said on Friday that it had acquired around 1,360 acres of surface land at its flagship Topaz helium project in Lake County, Minnesota, strengthening its control over a key area as it moves the project toward production readiness.
Rockfire reports reduced loss, reassures over going concern uncertainty
Rockfire Resources reported a reduced full-year loss on Friday and said it had made further progress at its Molaoi zinc, lead, silver and germanium project in Greece, while flagging a material uncertainty over going concern as it continues to rely on further funding for exploration.
German inflation eases in May
German inflation eased in May despite the ongoing conflict in the Middle East, according to figures released on Friday by Destatis.
Berenberg hikes target price on BT Group
Analysts at Berenberg hiked their target price on telecommunications giant BT Group from £2. 50 per share to £3 on Friday, after the firm reported that trends in its consumer business had improved in the fourth quarter of its trading year.
Europa Oil associate gets approval for Fuhai farm-out
Europa Oil & Gas said on Friday that its associated company Antler Global had received approval from Equatorial Guinea’s Ministry for Mining and Hydrocarbons Department for its farm-out agreement with Fuhai over the EG-08 production sharing contract.
Tooru backs out of proposed Mylky acquisition
Tooru said on Friday that it had decided not to proceed with its proposed acquisition of Mylky, citing market conditions, geopolitical risk, funding considerations and regulatory exposure.
US goods trade balance narrows to $82.4bn in April
America's goods deficit narrowed to $82. 4bn in April, according to preliminary data from the Census Bureau, down from $85. 3bn in March and better than the $86. 5bn expected by economists.
US wholesale inventories up 0.5pc in April
US wholesale inventories rose 0. 5% month-on-month to $938. 6bn in April, according to the Census Bureau, following an upwardly revised 1. 5% increase in March, which was the strongest growth since August 2022, but fell just short of expectations for a 0. 6% jump.
CelLBxHealth enters service agreement with AstraZeneca, shares pop
CelLBxHealth said on Friday that it had entered into a master services agreement with AstraZeneca, establishing the company as a qualified service provider to the global pharmaceutical group.