European markets ended the week on a high note on Friday, riding a wave of optimism after US lawmakers reached an agreement to raise the nation's debt ceiling, mitigating the threat of a government default.
London stocks racked up strong gains on Friday after the US Senate passed a bi-partisan agreement to raise the debt ceiling, and following the release of a stronger-than-expected non-farm payrolls report.
The FTSE 100 ended the bank holiday-truncated week up 36. 41 points, or 0. 48%, closing at 7,607. 28 on Friday.
Dechra Pharmaceuticals said on Friday that it has agreed to be taken over in a £4. 46bn deal.
US stocks rallied in early trade on Friday as investors breathed a sigh of relief after the Senate passed a bi-partisan agreement to raise the debt ceiling, and following a much stronger than expected non-farm payrolls number.
Heavily-weighted miners were the top performers as copper prices rose, with Antofagasta, Anglo American, Glencore and Rio Tinto all higher on Friday.
The US economy created far more jobs than expected in May, according to figures released on Friday by the Bureau of Labor Statistics, but analysts suggested that a moderation in wage growth could allow the Federal Reserve to skip a rate hike this month.
JPMorgan Cazenove placed Prudential shares on ‘positive catalyst watch’ on Friday into the first-half results in August.
British Land was on the list of director sells on Friday, after its chief financial officer sold more than £0. 1m to cover his bills after he vested a number of performance shares.
Purplebricks shareholders have voted in favour of a £1 takeover by rival strike.
Finance and asset management firm Burford Capital announced the sterling conversion rate for its previously-declared second interim dividend on Friday.
Africa-focussed miner Edenville Energy announced its proposal to change its name to Shuka Resources on Friday.
Immunotherapy developer Scancell said on Friday that it is set to present an informative poster at the American Society of Clinical Oncology Meeting (ASCO) 2023 annual meeting in Chicago from 2 to 6 June.
Jefferies slashed its price target on AJ Bell on Friday to 370p from 450p, keeping the rating at ‘buy’.
Mining company Tungsten West, which is focussed on restarting operations at the Hemerdon tungsten and tin mine, announced the successful completion of processing its legacy tungsten and tin concentrates on Friday, through the commissioning of the refinery portion of its mineral processing facility (MPF).
Baron Oil updated the market on the TL-SO-19-16 production sharing contract (PSC) on Friday, located offshore Timor-Leste.
Hydrogen fuel cell and electric hybrid technology developer Proton Motor Power announced the receipt of a significant order from the University of Stuttgart on Friday.
London stocks had extended gains by midday on Friday after the US Senate passed a bi-partisan agreement to raise the debt ceiling, and as investors eyed the latest non-farm payrolls report.
Legal and professional services company Gateley reported a robust performance in a trading update on Friday, with significant revenue growth in the financial year just ended.
European markets made further gains by midday on Friday after US lawmakers passed the debt ceiling deal, avoiding the prospect of a default.
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