Significant news from Saudi Arabia and Russia this morning: the top two oil producers have agreed oil output cuts until March 2018. Merkel oil. Euro
Slight pessimism creeps into US markets despite week of upbeat corporate earnings and raft of economic data indicating strong economy. Slight pessimism creeps into US markets despite week of upbeat corporate earnings and raft of economic data indicating strong economy.
Successful trials of a new anti-cancer drug saw AstraZeneca’s share price jump 9% on Friday (May 12), reaching a high of 5,202 before easing back to 5176 at the end of the day.
JC Penney has revealed weak first quarter numbers with its stock price hitting $4.74, near an all-time low, at one point.
In the US, some shock for retailer Macy’s: shares fell 17% as the retailer revealed a profits slump with profits coming in at just 24 cents a share compared to an estimated 35 cents.
Bank of England warns spending confidence will take time to recover meanwhile US shares take a hit, the worst daily decline since April.
The long-term picture for social media giant Snap remains unclear after the company posted a huge quarterly loss of $2.2bn on May 10. It was the firs
Uberisation of the economy
London’s Big Board was up 0.59% higher on Wednesday at 7,385.24 edging closer to 7,400 helped by strong gains for oil players.
The FTSE 100 neared 7,400 ending the day at 7,388.13 though it hit 7,398.58 at one point. The two biggest climbers were Hargreaves Lansdown and Associated British Foods
ITV ad revenues come under pressure but Barratt Developments predicts record sales year.