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Thursday newspaper round-up: North Sea drilling, Ikea, Studio Retail
The chancellor, Rishi Sunak, will say he wants to cut taxes “sustainably” and downgrade the role played by the state as an engine of growth, in a landmark speech that aims to quell concern among Tory backbenchers about the tax burden rising to its highest level in 70 years. Spelling out a personal philosophy on Thursday in his first major speech since Downing Street scandals opened the door for a change of leadership at the top of the Conservative party, Sunak will say only a market economy, driven by private sector spending, will create the dynamism needed to maintain sustainable growth.
Friday preview: NATO leaders' summit, IAG in focus
Investors' attention at the end of the week will be fully trained on the invasion of Ukraine and its fallout both in terms of it possibly ensnaring neighbouring countries and the sanctions which are likely to follow and whatever implications they might carry.
UK consumer confidence plunges as cost of living jumps
UK consumer confidence has dropped to its lowest for more than a year as households face a barrage of rising costs that will squeeze budgets, a survey showed.
Europe close: Stocks drop sharply as investors try to assess fallout from Russian invasion
Stock markets across Europe fell sharply as Russia's invasion of Ukraine unfolded in real time before investors' eyes, leaving them waiting for information regarding the sanctions that would be adopted against Moscow and their fallout.
London close: Stocks sharply lower as Russia attacks Ukraine
London’s equity markets closed well below the line on Thursday, as the world watched Russia’s violent invasion of Ukraine.
Director dealings: M&G revises December purchase upwards, James Latham on buyer and seller lists
M&G was at the top of the list of director buys on Thursday, correcting a purchase made by a non-executive board member that it first disclosed in December.
FTSE 250 movers: Gold miners rally; Ferrexpo tumbles
London’s FTSE 250 was down 2. 6% at 20,295. 47 after Russia invaded Ukraine.
US open: Major indices sink after Russia invades Ukraine
Wall Street stocks were firmly in the red at the open on Thursday after Russian soldiers invaded Ukraine overnight and investors ran for the safety of fixed-income assets.
Broker tips: Hargreaves Lansdown, IHG
Analysts at Berenberg slashed their target price on financial services firm Hargreaves Lansdown from 1,700. 0p to 1,250. 0p and downgraded the stock to 'hold' on Thursday, stating catalysts appeared to be limited, for now.
Live Company inks contract for first post-Covid live show
Live Company Group announced on Thursday that a contract for the return of the first live show since the start of the global pandemic had been signed.
Enteq trading in line as SABER development continues
Energy services technology company Enteq updated the market on its operations, and the progress of the ‘SABER’ technology development, on Thursday.
Open Orphan appoints Mo Khan as its new chief executive
Contract research organisation Open Orphan announced the appointment of Yamin 'Mo' Khan as its chief executive officer on Thursday, with immediate effect.
Caledonia Mining enters cap-and-collar gold hedge contract
Caledonia Mining Corporation has entered into a zero-cost contract to hedge around 25% of its 2022 target gold production at Blanket, it announced on Thursday, via a cap-and-collar hedging contract for 20,000 ounces of gold over a period of five months from March to July.
Bezant 'encouraged' by work at Cyprus joint venture
Bezant Resources updated the market on its Cyprus joint venture with Caerus Mineral Resources on Thursday, reporting that independent laboratory assays had been received for both dump sampling and drilling for the Troulli, Kokkinapetra and Anglisides projects.
FTSE 100 movers: Evraz tanks on Ukraine fears; Fresnillo shines
London’s FTSE 100 was down a whopping 3. 3% at 7,254. 62 in afternoon trade on Thursday, after Russia invaded Ukraine.
US jobless claims fall following three straight weeks of increases
First-time jobless claims fell at a faster than expected clip in the week ended 19 February following three consecutive weeks of increases.
Tremor International posts record performance for 2021
Advertising technology company Tremor International reported a record financial performance for 2021 on Thursday, driven by strong adoption of its platform, increased CTV spend, and “robust traction” within self-service and tech-enabled programmatic activity.
Seeing Machines to install pilot monitoring in Australian air ambulances
Driver monitoring technology company Seeing Machines announced on Thursday that it will deliver an eye-tracking solution to Air Ambulance Victoria to reduce the risk of pilot fatigue across its operations.
Renalytix presents new clinical data on KidneyIntelX
Renalytix announced the presentation of new clinical data for ‘KidneyIntelX’ bioprognostic testing at the World Congress of Nephrology’s annual meeting on Thursday.
Deutsche Bank raises target price on IHG
Analysts at Deutsche Bank raised their target price on Holiday Inn owner InterContinental Hotels Group from 5,610. 0p to 5,700. 0p on Thursday following the firm's "robust" full-year results.
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