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Home construction stocks were pacing gains on the stock market at the end of the week, benefitting from the tail-wind of the Bank of England’s policy meeting the day before, which saw rate-setters temper their outlook for interest rates. Berkeley Group Holdings, Barratt Developments and Taylor Wimpey were all near …

Credit Suisse downgraded Royal Mail on Thursday to ‘underperform’ from ‘neutral’ and cut the price target to 345p from 558.11p, citing 10% potential downside. The bank pointed to downside risk to consensus parcel volume expectations of +3% in 2022-23 as it believes only a partial normalisation of online shopping habits …

London stocks had maintained gains by midday on Tuesday, having taken their opening cue from a positive close on Wall Street, with Royal Mail pacing the advance after a well-received update. The FTSE 100 was up 0.8% at 7,357.44, having slumped 2.6% on Monday amid growing tensions between Russia and …

Royal Mail slumped on Friday after JPMorgan Cazenove placed the shares on ‘Negative Catalyst Watch’ ahead of the company’s next update on 10 February. “While we don’t expect a disappointment on revenue, this will be supported by Covid testing and so will reverse over time,” JPM said. “We also believe …

Berenberg reviewed its ratings on a number of leisure stocks on Thursday from pubs to restaurants and travel firms. The bank downgraded JD Wetherspoon to ‘hold’ from ‘buy’ and cut its price target on the stock to 1,050.0p from 1,650.0p, stating it still thinks Wetherspoons is a very well-run business …

Barclays hiked its price target on Royal Mail to 640p from 550p on Thursday, citing expectations of growth in FY23. The bank said it expects “solid” Christmas trading, as indicated by the recent ‘Barclays UK Spend Trends’ discretionary retail spend signal. “UK domestic volumes continue to be supported by antigen …

Royal Mail on Monday said it had exchanged contracts to sell the last three remaining plots on its Nine Elms Park site to London Square for £111.2m. Profits from the sale would be used in line with Royal Mail’s capital allocation policy, with around £35m to be reinvested into the …

London’s FTSE 100 was down 0.4% at 7,138.52 in afternoon trade on Thursday. Cybersecurity firm Darktrace tumbled as it emerged it will be relegated to the FTSE 250 in the next quarterly reshuffle. Royal Mail was under the cosh as it traded without entitlement to the dividend. Asset manager Abrdn …

London stocks were still in the red by midday on Thursday as concerns about the new Omicron Covid variant and potential rate hikes weighed on investors’ minds. The FTSE 100 was down 0.7% at 7,119.72, having taken its opening cue from Wall Street, where stocks tumbled after the first US …

London’s FTSE 100 was down 0.4% at 7,079.43 in afternoon trade on Tuesday. Supermarket chain Sainsbury’s was the worst performer on the index. Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown, said it could be down to nervousness about trips to bricks and mortar supermarkets amid worries about …