Gold was highlighted by UBS as an appealing investment as a hedge against geopolitical risks from the Middle East and potential US political shifts in this election year.
After Iran launched its second missile attack on Israel this year, the price of the yellow metal picked up to $2,670 per ounce, having dropped back from last week's all-time highs in the past couple of days.
Reckitt Benckiser Group PLC (LSE:RKT, ETR:3RB) is facing multiple challenges ahead of its third-quarter results, with Jefferies forecasting a 1% drop in like-for-like sales.
Key reasons for the limp forecast include weaker scanner data from the US and the impact of a tornado on the company’s nutrition segment, which is expected to be heavily weighted in the third quarter.
Barclays PLC (LSE:BARC)’s investment banking division has been an underperformer in recent years, but efforts are underway to improve its financial performance, reckon Shore Capital Markets analysts.
Rather confusingly, Barclays’ investment banking division is split between two core segments- ‘investment banking’ and ‘global markets’ (hence the clunky sentence above).
Analysts have been quick to note that JD Sports Fashion PLC (LSE:JD.)’s interim results were solid, in spite of its warning of a hit to profitability from the stronger pound.
Both Peel Hunt and Shore Capital analysts reiterated ‘buy’ ratings for the FTSE 100-listed retailer following Wednesday’s results.
Citi has identified BP PLC (LSE:BP.) and Shell PLC (LSE:SHEL, NYSE:SHEL) as its top short-term picks in the oil sector, citing the potential for a rebound driven by rising demand, particularly from China's economic stimulus.
While global energy stocks have underperformed in 2024 due to oversupply, the American investment bank believes both UK super-majors are poised to benefit from improved market conditions in the coming months.
Barclays PLC (LSE:BARC) has downgraded its rating on European banks as strategists see a tougher outlook for the sector.
European banks have benefitted from net interest income generated by high interest rates but now that the European Central Bank is expected to cut rates rapidly over the coming months, this boost to banks’ bottom lines is getting eroded.
JPMorgan analysts have highlighted further upside at the likes of BAE Systems PLC (LSE:BA.) and Babcock International PLC (LSE:BAB) as Europe plays catch up in its efforts to rearm.
Europe’s rearmament cycle, sparked by the outbreak of the Ukraine war in 2022, is expected to last for at least another decade yet, according to JPMorgan.
ASOS PLC (LSE:ASC) received a mixed response from City analysts when it announced the Topshop disposal in September, but recent analysis from Berenberg suggests there could be more upside for the shares than previously thought.
Berenberg slapped a 'buy' rating on the online fashion portal in a research piece published this week, with a share price target increased from 490p to 600p.
The financial market impact of the Iranian missile attack on Israel should "remain limited", JP Morgan said, while other investment banks said it was a case of continued "brinksmanship" in the region.
JP Morgan's regional strategists said the impact should remain limited as long as the conflict does not broaden to include countries like Saudi Arabia or UAE directly, other countries outside the region, nor block the Straits of Hormuz.