The focus in financial markets over the coming week will be on the Autumn Budget on Wednesday, with the Chancellor facing a tricky balancing act given already high deficits, rising inflation and the end of the furlough scheme.
London stocks managed a positive finish on Friday, even after disappointing retail sales data and a slump in consumer confidence, as worries about China’s Evergrande eased and with the release of encouraging UK growth figures.
European stocks finished higher on Friday with investors cheering news of an interest payment by debt-ridden China Evergrande Group and brushed aside a survey that showed growth in euro zone business activity slowed in October due to inflation fears.
The FTSE 100 ended the week 29. 48 points lower, closing at 7,204. 55 on Friday.
Analysts at Berenberg raised their target price on Barclays from 230. 0p to 245. 0p on Friday, telling clients that the lender's third-quarter numbers had confirmed that it was "well placed" to profit from a recovery among UK and US consumers.
Dunelm Group revealed on Friday that chief executive Nick Wilkinson had disposed of 93,196 ordinary shares in the FTSE 250-listed retailer.
Preliminary survey data revealed that the US economy got off to an "encouraging" start in the fourth quarter but price pressures showed no signs of abating.
London’s FTSE 250 was up 0. 1% at 22,930. 94 in afternoon trade on Friday.
Secondhand marketplace operator musicMagpie updated the market on its process to appoint a new chief financial officer on Friday.
Ironveld announced a proposed new major investment by Grosvenor Resources on Friday.
Location Sciences announced on Friday that it has agreed to sell its insights dashboard and four contracts pertaining to its location data and insights business toUnited States-based IP intelligence company Digital Envoy for up to $0. 7m in cash.
London’s FTSE 100 was up 0. 6% at 7,231. 36 in afternoon trade on Friday.
More than 35 retailers, manufacturers and investors including Tesco, John Lewis, Primark, Asos and Unilever have called on the UK government to introduce a legal requirement for companies to carry out human rights and environmental checks on their global supply chains.
Wall Street stocks were mixed early on Friday as losses in the tech sector weighted on the Nasdaq early in the session.
Analysts at UBS reiterated their 'sell' recommendation on shares of Unilever, expressing to clients their concern over the "quality" of the company's margins in the back half of the year, which they said implied a "substantial" reduction in its marketing spend.
The man credited with reengineering Home Depot's supply chains is leaving after roughly 15 years in the job.
Beyond Meat cut its revenue guidance for the third quarter on Friday as it cited a decline in retail demand, the impact of the Delta variant and operational challenges, sending shares in the plant-based meat producer tumbling.
Financial services company American Express reported third-quarter earnings that beat expectations on Friday thanks to an acceleration in spending throughout the period.
Honeywell reported third-quarter earnings at the high end of its guidance range on Friday but downgraded its full-year guidance due to supply chain issues.
Analysts at Berenberg bumped up their target price for shares of Barclays from 230. 0p to 245. 0p, telling clients that the lender's third quarter numbers had confirmed that it was "well placed" to profit from a recovery among UK and US consumers.
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