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FTSE 100 movers: Ocado, Unilever slump; Retailers rally
London’s FTSE 100 was down 0. 6% at 7,581. 34 in afternoon trade on Tuesday.
Broker tips: Dr Martens, Hollywood Bowl, Babcock
RBC Capital Markets downgraded shares of iconic bootmaker Dr Martens on Tuesday to ‘sector perform’ from ‘outperform’ and slashed the price target to 180p from 230p as it said FY24 guidance may prove too optimistic.
Jefferies reiterates ‘buy’ rating on Babcock
Jefferies reiterated its ‘buy’ rating on Babcock on Tuesday and lifted the price target to 460p from 450p as it assumed coverage of the shares and took the opportunity "to revisit the case and provide an update on the Type 31 situation".
CBI drafts in lawyers for potential insolvency filing - report
The board of the scandal-hit Confederation of British Industry has reportedly drafted in lawyers to prepare for a prospective insolvency filing ahead of a crunch vote by thousands of its members next week.
US pre-open: Stocks to rise amid cautious optimism over debt deal
US stock futures pointed to a positive open on Tuesday amid cautious optimism that a debt default will be avoided after lawmakers agreed a tentative deal over the weekend.
London midday: Stocks stay down amid US debt deal doubts
London stocks were still in the red by midday on Tuesday amid continued uncertainty over whether a US debt default will be averted, and as data showed that shop price inflation in the UK edged higher in May.
Rhone offers to buy 20% stake in RHI Magnesita, shares surge
RHI Magnesita surged on Tuesday after Ignite Luxembourg Holdings, which is indirectly managed by Rhone Holdings, offered to buy a 20% stake in the company at 2,850p per share in cash.
Hollywood Bowl hails record H1 revenues; Canada ahead of expectations
Hollywood Bowl posted a jump in interim profits on Tuesday amid record revenue, as it said its Canadian business was performing ahead of expectations.
Berenberg lifts Hollywood Bowl price target after 'impressive' results
Berenberg lifted its price target on Hollywood Bowl on Tuesday to 370p from 360p following an "impressive" set of interim results.
Hochschild CEO Bustamente to step down in August
Hochschild Mining said on Tuesday that Ignacio Bustamante plans to step down as chief executive officer on 26 August to relocate to London and assume a new role at another company.
RBC Capital downgrades Dr Martens, slashes price target
RBC Capital Markets downgraded shares of iconic bootmaker Dr Martens on Tuesday to ‘sector perform’ from ‘outperform’ and slashed the price target to 180p from 230p as it said FY24 guidance may prove too optimistic.
Asda to buy EG Group's UK & Ireland operations in £2.3bn deal
Asda Group said on Tuesday that it has agreed to buy petrol station operator EG Group’s UK and Ireland operations in a £2. 27bn deal.
London open: Stocks edge down amid US debt deal uncertainty
London stocks fell in early trade on Tuesday amid continued uncertainty over whether a US debt default will be averted, and as data showed that shop price inflation edged higher in May.
Hiscox appoints Jonathan Bloomer as chair designate
Insurer Hiscox said on Tuesday that Jonathan Bloomer has been appointed as chair designate, succeeding Robert Childs, who will retire on 1 July.
Unilever CFO Pitkethly to retire next year
Unilever announced on Tuesday that chief financial officer Graeme Pitkethly plans to retire by the end of May 2024.
London pre-open: Stocks seen muted amid US debt deal hopes
London stocks were set for a muted open on Tuesday as traders return to their desks after the long weekend, amid hopes of a US debt deal.
Tuesday newspaper round-up: House sales, Amazon, energy suppliers
More prospective house sellers are returning to the UK’s property market, pushing agreed home sales to their highest point of the year in May, according to Zoopla, although it warned that the rebound in activity could be knocked by rising mortgage rates. House prices have fallen by 1. 3% nationally over the past six months, the property website found, but the speed of price falls has been decreasing as buyer confidence slowly improves. – Guardian.
FTSE 100 movers: Miners rally; IAG flies lower
London’s FTSE 100 was up 0. 9% at 7,636. 70 in afternoon trade on Friday.
BofA ML starts Darktrace at 'underperform', shares slide
Cybersecurity firm Darktrace tumbled on Friday after Bank of America Merrill Lynch initiated coverage of the stock with an ‘underperform’ rating and a "street-low" price target of 240p, which implies 18% downside potential.
Broker tips: Darktrace, Halfords, Asos
Cybersecurity firm Darktrace tumbled on Friday after Bank of America Merrill Lynch initiated coverage of the stock with an ‘underperform’ rating and a "street-low" price target of 240p, which implies 18% downside potential.