Today's Closing Update

U.S.Stocks slid firmly into negative territory after moving higher over the course of the three previous sessions.

 

European Stocks fell for the second day after China unveiled new tariffs against U.S. products, increasing concerns of an escalating trade standoff between the two countries.

 

Hammerson reported modest growth in the value of its portfolio of shopping centres in the first quarter of the year but said it was waiting for French suitor Klépierre to make its position clear later this month before proceeding with its own takeover of UK rival Intu.

 

Unemployment in the US remained steady at 4.1% in March, for the sixth consecutive month, the Labour Department said on Friday. The rate of 4.1% has held since November and is the lowest since 2000. Employers added 103,000 jobs in March, according to the Bureau of Labour Statistics. It said that employment increased in the manufacturing, healthcare and mining sectors.

 

Britain’s financial watchdog said that firms offering services linked to cryptocurrency derivatives must meet all relevant rules in the regulator’s handbook or could face sanctions. The Financial Conduct Authority (FCA) does not currently regulate cryptocurrencies but is looking to require cryptocurrencies to be authorised.

 

Takeda Pharma, a global, research and development-driven pharmaceutical company, is considering an offer to acquire Shire PLC in a deal that could be valued at $55 billion, in total. On March 28, Takeda stated that it is considering making an approach to Shire regarding a possible offer for the company. In accordance with Rule, Takeda must, by no later than 25 April 2018, either announce a firm intention to make an offer for Shire or announce that it does not intend to make an offer for Shire.

 

Indivior has reacted to losing a recent court case by suing companies who are developing generic versions of its opioid addiction treatment. The Slough-based company’s US arm has filed patent lawsuits against generic drugmakers Dr Reddy’s, Actavis, Par, Alvogen and Teva for infringing new US patent number 9,931,305, known as the ‘305 patent, relating to their respective proposed generic versions of its Suboxone film.

 

Gold Prices rose as investors fled to safe-haven assets after US President Donald Trump re-ignited trade war fears by proposing $100 billion in new tariffs on China.

 

Oil Prices fell after U.S. President Donald Trump’s threat of new tariffs on China reignited fears of a trade war between the world’s two biggest economies.

Market Close

Market Index Change % Change
UK 100 7,183.6 -15.9 -0.2%
UK 250 19,530.2 -46.0 -0.2%
GER 30 12,241.3 -63.9 -0.5%
FRA 40 5,258.2 -18.4 -0.4%
U.S. 30 24,165.41 -339.81 -1.4%
U.S. 500 2,633.3 -29.5 -1.1%
OIL (BRENT) 67.40 -0.93 -1.4%
GOLD 1,333.22 +6.65 +0.5%

UK Risers & Fallers

Company Price Change % Change
AA PLC 95.1 +7.9 +9.1%
Drax 290.5 +13.8 +5.0%
Micro Focus 1128.5 +34.5 +3.2%
Rio Tinto 3560 -85.5 -2.4%
Glencore 351.15 -7.6 -2.1%
Ferrexpo 220.35 -17.8 -7.5%

Reported Economic Data

Time/Date Previous Forecast Outcome
12.30pm: U.S. Average Hourly Earnings m/m 0.1% 0.3% 0.3%
12.30pm: U.S. Non-Farm Employment Change 313k 188k 103k
12.30pm: U.S. Unemployment Rate 4.1% 4.0% 4.1%
3.15pm: U.K. BOE Governor Carney Speaks
5.30pm: U.S. Fed Chair Powell Speaks

 

 

 

Sources

 

https://uk.webfg.com/news/news-and-announcements/indivior-sues-generic-rivals-over-new-suboxone-patent–3226451.html

 

https://uk.webfg.com/news/news-and-announcements/hammerson-outperforms-retail-market-in-q1-waits-for-klepierre-clarity–3226082.html

 

http://www.londonstockexchange.com/exchange/news/alliance-news/archive.html?&page=1

 

http://www.londonstockexchange.com/exchange/news/alliance-news/detail/1523025840017265300.html]

 

https://uk.reuters.com/article/us-global-oil/oil-inches-down-on-trumps-latest-china-trade-threats-idUKKCN1HD080

 

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