Sign up to create alerts for Instruments,
Economic Events and content by followed authors
Free Sign Up Already have an account? Sign In
Quotes
All Instrument Types
- All Instrument Types
- Indices
- Equities
- ETFs
- Funds
- Commodities
- Currencies
- Crypto
- Bonds
- Certificates
Please try another search
🚨 NDVA surged 43%. This AI Chipmaker Could Be Next See Analysis
FTSE 100 back above 7,600, Wall Street gains on hope for debt ceiling deal
Published May 26, 2023 14:47
© Reuters. FTSE 100 back above 7,600, Wall Street gains on hope for debt ceiling deal
Proactive Investors -
- FTSE 100 hit session low of 7,556.92 earlier
- US stocks open up after PCE inflation data
- UK April retail sales beat City expectations
Darktrace dented
Darktrace (LON:DARK) shares dropped after Bank of America (NYSE:BAC) Merrill Lynch initiated coverage of the cybersecurity firm with an 'underperform' rating and 240p price target.
The US bank's analysts said Darktrace's growth was set to decelerate "significantly" given "much stronger" competition in the next year and that the weaker macro environment will lead customers to further consolidate providers.
The analysts estimate Darktrace will see a compound annual growth rate of 18% for FY23-25, which is 23% below consensus expectations.
In afternoon trading, Darktrade shares were down 11.3% at 259p.
PCE deflator above forecast
The Federal Reserve’s preferred gauge of US consumer inflation, the April core PCE price index rose 0.4% in April from the prior month and 4.4% from a year earlier, with both increases slightly above estimates.
Consumer spending rose 0.8% in April, the Commerce Department said, boosted by higher spending on vehicles and services such as insurance and healthcare after two months of weaker spending, with March and February both up 0.1%.
Meanwhile, other data showed April US durable goods orders come in at 1.1% vs a -1.0% estimate.
According to the CME's FedWatch Tool, the probability that the FOMC will leave rates unchanged at their June 13-14 meeting is now 44%. down from 59% just before the numbers were released and there is around a 56% chance of a 25 basis point increase vs 41% prior to the data coming out.
A quick glance at some of London’s movers
Rockfire Resources PLC (LON:ROCKR) - up 16% to 0.25p: Shares jumped higher on Friday following news its geotechnical drilling program at the Molaoi zinc deposit in Greece has yielded the highest zinc grades ever recorded at the site out of the 180 drill holes that have been completed.
Quantum Blockchain Technologies PLC (LON:QBTQ) - up 17% to 1.85p: Shares jumped after the group appointed Vladimir Kusznirczuk as the company's marketing and business development manager with immediate effect. Kusznirczuk’s focus will be on opportunities, specifically developing joint ventures and strategic partnerships, with US, Chinese and Canadian bitcoin miners and mining rig manufacturers, the blockchain investment firm said.
Related Articles
Add Chart to Comment
Confirm Block
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
Report this comment
I feel that this comment is:
Comment flagged
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.