UK Gilt 10
Year Yield 1.4485%, Spot Gold $1243.15 -12.20 Brent Crude $41.35 -0.30
$ per £
1.4422
$ per €
1.1258
€ per £
1.2811
U.S.
stocks rose, with the S&P’s 500 Index turning positive for 2016 in the wake
of a dovish Federal Reserve that helped the gauge post its longest weekly
winning streak since November. The equity benchmark joined the Dow Jones to
advance for the year, staging one of the biggest turnarounds in history. The
Dow surged 12 percent in 24 days through Thursday, boosted by seven separate
daily advances exceeding 1 percent. It’s a stunning comeback from what was the
worst-ever start to a year, with stocks pushed over the top as the Fed this
week signaled a slower pace of interest-rate increases. The S&P 500 added
0.4 percent to 2,049.58 and is now up 0.3 percent this year after falling as
much as 11 percent. The Dow climbed 120.81 points, or 0.7 percent, to 17,602.30,
extending its 2016 increase to 1 percent. The Nasdaq Composite Index advanced
0.4 percent, trimming its decline since the end of 2015 to 4.2 percent from
almost 15 percent. Trading volume in U.S. equities was boosted Friday by a
quarterly event known as quadruple witching, when futures and options contracts
on indexes and individual stocks expire. About 11 billion shares traded hands
on U.S. exchanges, 25 percent above the 2016 average.
PRESS
COMMENTARY
The UK’s
biggest institutional investors are to demandFTSE 100 companies stop quarterly
reporting as part of a radical shake-up of how shareholders interact with their
investments.
Crispin
Odey, the outspoken London hedge fund manager, made a 22% loss in his €1
billion Odey European fund in the first two weeks of March as a number of big
bets went against him, FT.
Ten great
share tips for your ISA - James Halstead, Ricardo, Cranswick, James Fisher
& Sons, Carr’s Group, Portmeirion, Avon Rubber, WS Atkins, Yound & Co’s
Brewery, British American Tobacco, Telegraph (Questor share tips).
COMPANY
NEWS
CVS Group
PLC (CVSG.LN) Monday reported a 17% fall in pretax profit for the first half of
fiscal 2016 after booking extra costs and despite a higher revenue, and said
comparable sales growth for January and February has improved slightly, in line
with expectations.
After
losing the battle for Syngenta AG, Monsanto Co. has explored possible deals
with BASF SE and Bayer AG of Germany as the U.S. seed company seeks to bolster
its position amid industry consolidation.
Pets At
Home Group PLC (PETS.LN) has appointed Ian Kellett as Chief Executive Officer
from April 4, following the resignation of Nick Wood.
BT in
Discussions With TalkTalk Over YouView Control.
Deutsche
Boerse Plans German ‘AIM’ Market, Kengeter Tells FT.
Smiths in
Talks to Buy Safran’s Morpho Detection Unit.
Cape PLC
(CIU.LN) said it has secured a three year extension to its contract with SABIC
U.K. Petrochemicals Ltd.
Inland
Homes PLC (INL.LN) reported a massive rise in pretax profit for the first half
of fiscal 2016, and said it is confident it will continue to deliver further
value to shareholders over the coming year despite the volatility in the
financial markets. Source Quilter Cheviot
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