The FTSE 100 is called to open 8 points higher at 7424. Asian stocks advanced on optimism that the U.S. and China will declare another truce in their trade war at a presidential meeting on Saturday. The yen extended losses after the biggest drop since April. Equity benchmarks in Tokyo, Seoul and Hong Kong saw gains of almost 1%, and U.S. stock futures also climbed after reports that the current plan is for the U.S. to hold fire on hiking tariffs on another swathe of Chinese imports. Ten-year Treasury yields edged up after rising on Wednesday, while crude oil gave up a slice of its recent jump.
UPGRADES AND DOWNGRADES
- B&M European upgraded to overweight at JPMorgan; PT 3.90 Pounds
- SocGen upgraded to buy at Independent Research; PT 30.50 Euros
- TomTom raised to equal-weight at Barclays; PT Set to 9.50 Euros
- Abcam downgraded to add at Peel Hunt
- Carlsberg downgraded to sell at Citi
- Rio Tinto downgraded to market perform at BMO; PT 47.50 Pounds
- Senior downgraded to equal-weight at Barclays; PT 2.10 Pounds
- Premier Oil – Significant resource upgrade at Zama following conclusion of appraisal campaign
- Greene King said that pretax profit fell 13% in fiscal 2019, despite a rise in revenue. Hunting said that it is performing in line with management expectations but that volatile oil prices could weigh on the market and hit the company.
- Elliott Urges Bayer to Settle Roundup Suits and Reap Reward
- AstraZeneca said that an interim analysis of data from its Caspian trial showed that cancer drug Imfinzi reduced patient mortality.
- After $7 Billion Flees, H20 Plans to Bury Toxic Debt in New Fund
- Kingfisher has named Thierry Garnier its next chief executive officer to replace Veronique Laury in autumn, it said Thursday.
- Swiss Re’s ReAssure Sets IPO Price Range at 280p to 330p/Shr
- L&G funds $5.1bln Oxford Uni property development
- Zumtobel Sees Higher Revenue, Improved Margin as Costs Fall
- Nokia Wins 5G Order With Zain Saudi Arabia, Now Has 43 Contracts
- Infineon Eyes Over $1b of Revenue in South Korea: Handelsblatt