The FTSE 100 index closed down 0.1% on Monday, at 7,544.89 points, on the back of weakness in the basic-resources sector. The latest inflation numbers from China showed signs that the world's second-biggest economy is slipping into deflation, CMC Markets analyst Michael Hewson says in a market comment. "These concerns over weak demand are weighing on the likes of Glencore, Rio Tinto and the rest of the mining sector, as iron ore prices decline," he says. Anglo American shares saw a bit of a rebound after last week's drops prompted some takeover speculation, he adds.


Hipgnosis Sells Non-Core Songs Catalogue For $23.1 Mln

Hipgnosis Songs Fund said it has completed the sale of around 20,000 non-core songs for $23.1 million.


Domino's Pizza Backs Guidance, Eyes Opening More Stores

Domino's Pizza Group said it backed its fiscal 2023 guidance expecting accelerating growth through additional opportunities mostly in the U.K. and Ireland markets.


Begbies Traynor Pretax Profit Falls on Higher Costs; Sees Year in Line With Views

Begbies Traynor Group said pretax profit for the first half of its fiscal year fell after booking higher costs, and that it was confident on delivering current market expectations for the full year.


Synectics Shares Have Best Day in 24 Years After Profit Beat Forecast

Synectics shares rose 31%--marking their best one-day percentage rise in over 24 years--after the company said that it expects to beat market forecasts for fiscal 2023 after a strong second-half performance, particularly in the oil & gas market.


Anglo American Shares Rise After Being Tipped for Takeover

Shares in Anglo American rose on Monday after being tipped by analysts for a takeover if its doesn't turn operations around and its share price continues to lag.


QinetiQ's Low Share Price an Attractive Entry Point

1305 GMT - QinetiQ's shares have fallen 16% year-to-date, while the rest of the European defense sector has gained 32% on average, JPMorgan analyst David H. Perry says in a note. This is attributed to investor concerns over the defense-technology company's M&A activity, as the initial results of acquired businesses have fallen short of expectations, Perry says. "These concerns are valid but the severe derating of the shares provides an attractive entry point in our view," Perry says. JPM upgrades the stock to overweight from neutral and raises the target price to 440 pence from 390 pence. Shares are up 1.1% at 301.40 pence. (


Luxury Industry Could Return to Growth in the U.S. Next Year

1224 GMT - The luxury industry might have a long-term growth opportunity in the U.S., where new markets such as Miami continue to thrive, UBS analysts say in a research note. "After three years of a booming demand in the local luxury market, 2023 has been rather muted with a flattish sales performance," UBS analysts say, adding that they expect the sector to return to growth in the second half of next year. However, some people are still cautious heading into 2024, UBS says, due to low consumer confidence, geopolitical uncertainty and the upcoming presidential election in the country, which are limiting the visibility in the market. UBS takes Hermes, Hugo Boss and Richemont as its top picks, while it remains cautious on Salvatore Ferragamo and Burberry. (

Contact: London NewsPlus, Dow Jones Newswires;

(END) Dow Jones Newswires

12-11-23 1246ET