US close: Nasdaq drops over 2% as AI sell-off resumes
US stocks fell sharply on Friday, with the Nasdaq suffering steep losses, as a renewed sell-off in the AI and chip sectors dragged markets lower.
Week ahead: Barclays, Meta and Netflix results due
The UK corporate calendar will get busy next week, with results from the likes of Barclays and Sainsbury’s due, while in the US, Meta, Tesla and Netflix are also slated to report earnings.
London close: FTSE in the black as investors snap up defensive stocks
London stocks closed modestly higher on Friday, as a strong performance from defensive stocks helped offset weakness among banks, following reports chancellor John Healey was poised to hit the sector with higher taxes in the Budget later this month.
Europe close: stocks finish higher despite tech sell-off
European shares finished the week on the front foot on Friday, shrugging off a global sell-off in tech stocks, after corporate earnings helped bolster sentiment.
Broker tips: Bridgepoint, Pulsar Helium
Analysts at Berenberg lifted their target price on Bridgepoint to 455p from 360p on Friday, citing a fresh round of upgrades following the group's unscheduled trading update on 7 October.
Director dealings: Currys CFO lowers stake
Currys revealed on Friday that chief financial officer Bruce Marsh had disposed of 500,000 ordinary shares in the FTSE 250-listed electrical goods retailer.
US open: Dow edges higher, Nasdaq slips as chipmakers weigh
Wall Street trading got off to a mixed start on Friday as major indices looked set to close out the week in negative territory.
Competition watchdog mulls tightening oversight of Microsoft
The UK's competition watchdog is considering ramping up regulatory oversight of tech giant Microsoft, it confirmed on Friday.
FTSE 100 movers: Lloyds and NatWest fall; WPP gains
London’s FTSE 100 was 0. 1% higher at 10,855. 11 in afternoon trade on Friday.
BoE governor cautious on inflation outlook despite subdued price pressures
Bank of England governor Andrew Bailey has warned that it remains too early to assess the full inflationary impact of the Middle East conflict amid signs that businesses are working hard not to pass higher energy costs on to customers.
Canaccord Genuity starts Pulsar Helium at 'speculative buy'
Canaccord Genuity initiated coverage of Pulsar Helium with a 'speculative buy' rating and a 150p target price on Friday, noting the group was advancing a major primary helium resource at its Topaz project in Minnesota.
US pre-open: Futures edge higher as Tesla gains, chip stocks remain under pressure
Wall Street futures were mostly higher ahead of the opening bell on Friday as major indices looked set to close out the week in negative territory.
Eurozone trade deficit hits three-year high as imports surge
The eurozone recorded its largest trade deficit since January 2023 in August, as imports surged amid widening imbalances in energy and manufactured goods, according to figures released by Eurostat on Friday.
Europe midday: Shares extend rally after bruising week for tech stocks
European shares extended gains on Friday as corporate earnings and a rebound in US shares overnight boosted sentiment after a sell-off in tech shares earlier in the week over artificial intelligence financing fears.
Nordex boosts guidance, shares charge ahead
Shares in Nordex Group soared on Friday, after the European wind turbine manufacturer boosted annual guidance on the back of forecast-beating quarterly numbers.
London midday: FTSE nudges up but Lloyds, NatWest in the red
London stocks had nudged into the black by midday on Friday, but Lloyds Banking Group and NatWest remained under pressure following reports that chancellor John Healey will raise taxes on the banking sector in his Budget later this month.
Eurozone inflation confirmed at three-year high
Eurozone inflation was confirmed at a three-year high in September, according to Eurostat's final estimates released Friday, as price growth accelerated sharply on the back of surging energy prices.
RBC Capital downgrades Lloyds to 'sector perform'
RBC Capital Markets downgraded Lloyds Banking Group on Friday to ‘sector perform’ from ‘outperform’ and cut the price target to 115p from 124p.