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Europe close: Stocks finish week with gains despite inflation worries
European shares briefly touched record highs in muted trade on Friday as investors maintained a cautious tone, yet they saw the week out with gains despite inflationary worries with luxury goods retailers sparkling.
London close: Stocks weaker, AstraZeneca plunges on profit miss
London stocks closed the last session of the week in negative territory on Friday, with AstraZeneca under pressure after results, while investors digested a number of data releases across the pond.
Weekly review
The FTSE 100 ended the week 43. 95 points higher, closing at 7,347. 91 on Friday.
Broker tips: Auto Trader, Johnson Matthey
Analysts at Liberum raised their target price for shares of 'top pick' Auto Trader on the back of its latest interims, saying the group's performance was proof that its shift towards a strategy based on average revenues per retailer was paying dividends.
Elon Musk sells more of his shares in Tesla
Elon Musk offloaded another batch of shares of the iconic electric carmaker that he leads on Thursday.
Second round of US Covid loans forgiven at 600 Group
Diversified industrial engineering company the 600 Group announced on Friday that its three United States operations have all been granted forgiveness of their second round loans under the US Government Paycheck Protection Program (PPP), which in total amounted to $2. 2m.
In The Style founder to become chief brand officer
Womenswear brand In the Style said on Friday that founder and chief executive Adam Frisby has decided to take on the newly-created role of chief brand officer and that Sam Perkins will succeed him as CEO with effect from 17 January.
United Oil announces spudding of latest well at Abu Sennan
United Oil & Gas announced the spudding of the Al Jahraa-13 development well in the Abu Sennan licence, onshore Egypt on Friday.
US consumer sentiment falls to 10-year low amid inflation woes
US consumer sentiment unexpectedly deteriorated in November amid growing worries about inflation, according to a preliminary reading from the University of Michigan.
Microsaic adds new capability to its technology platform
Microsaic announced the addition of a new technology capability to its platform on Friday, as part of its transition from equipment-only sales to remote detection and analysis of human diagnostics and environmental health monitoring.
US job openings little changed in September
The number of job openings was little changed on the last business day of September, according to the Bureau of Labor Statistics, with hires and total separations broadly flat at 6. 5m and 6. 2m, respectively.
FTSE 250 movers: Wood Group slumps; Endeavour gives back some ground
London’s FTSE 250 was flat at 23,578. 02 in afternoon trade on Friday.
FTSE 100 movers: AstraZeneca drops after results; Burberry recovers
London’s FTSE 100 was down 0. 4% at 7,354. 30 in afternoon trade on Friday.
US open: Stocks trade higher following preliminary consumer sentiment reading
Wall Street stocks were in the green early on Friday as investors thumbed over a preliminary reading of November's consumer sentiment index.
Toshiba plans to split into three independent companies
Multinational conglomerate Toshiba revealed on Friday that it intends to split into three independent companies as part of an effort to appease activist shareholders.
Berenberg lowers target price on Johnson Matthey
Analyst at Berenberg lowered their target price on chemicals company Johnson Matthey from 3,600. 0p to 2,800. 0p on Friday, stating Thursday's announcement that it would exit its nascent battery materials business changed the nature of the stock's equity story.
Euro area industrial production dips as expected, but energy crunch 'clear risk'
Industrial production in the single currency area dipped in September, dragged down by a drop in the output of capital goods, a key ingredient of long-term growth.
FCA fines Sunrise Brokers more than £640,000
The Financial Conduct Authority has fined interdealer broker Sunrise Brokers £642,400 for "serious" financial crime control failings in relation to cum-ex trading.
Avon Protection warns over body armour revenue contribution
Avon Protection tanked on Friday after it warned the revenue contribution from its body armour segment for FY22 and beyond will be "significantly reduced" following a testing failure for one of its products and delays to product approvals.
Johnson & Johnson to spin off consumer health business
Johnson & Johnson announced plans on Friday to separate its consumer health segment from the pharmaceuticals and medical device business, creating a new publicly traded company.
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