The release of the US government's proposals for a potential break-up of Google has sparked speculation about how exactly the search giant's monopoly could be curtailed.
A filing by the Department of Justice overnight indicated that both behavioural and structural remedies might be sought from Judge Amit Mehta, the judge presiding over the case who called Google a "monopolist" in his ruling earlier in the summer.
Panmure Liberum has identified several infrastructure firms that could either benefit or lose out if rumoured policies ahead of Chancellor Rachel Reeves’ October Budget materialise.
Among the potential winners, Costain Group PLC (LSE:COST) may secure up to £1 billion if HS2 is extended to Euston, a project supported by Secretary of State for Transport Louise Haigh.
Grainger Plc (LSE:GRI) looks like a potential beneficiary of the Labour government’s first Budget, according to analysts at Jefferies.
Shares have moved sideways in the past year, but the US bank expects the shares to pick up post-Budget (30 October) and ahead of the 25 October REIT conversion.
Shares in United Utilities Group PLC (LSE:UU.) were higher after RBC Capital shifted its preference in the UK water sector, upgrading the stock to 'outperform'.
In the same note, it downgraded Pennon Group PLC (LSE:PNN, OTC:PEGRY) due to concerns over its balance sheet, which now faces strain from increased capital expenditure (capex) requirements.
Shell PLC (LSE:SHEL, NYSE:SHEL) and BP PLC face mixed forecasts as they prepare for third-quarter reports, according to JP Morgan’s latest research on the oil and gas sector.
Both companies are expected to see lower profits in the upcoming quarter, though Shell's outlook is seen as more stable than BP's, reinforcing its position as a preferred investment.
Haleon PLC (LSE:HLN, NYSE:HLN) has received a price target upgrade from UBS ahead of its third quarter update on 31 October as it becomes increasingly confident over its longer-term revenue opportunities.
Foreign exchange movements will affect this year’s adjusted earnings, which UBS has trimmed by 3%, but that aside the Swiss bank believes the GSK spin-iut has shown it can deliver 4-6% organic sales growth.
Vistry Group PLC (LSE:VTY) shares came under further pressure on Wednesday as the housebuilder saw share price targets cut by Deutsche Bank and UBS, though analysts said if the problem turns out to be a one-off the shares could bounce back strongly.
Shares in the housebuilder had tanked a day earlier after it warned profits would be lower over the next three years due to an underestimation of building costs.
Capital markets and financial data provider London Stock Exchange Group PLC (LSE:LSEG) has received a small upgrade from Deutsche Bank ahead of this month’s quarterly earnings report.
Deutsche analyst Benjamin Goy said he expects “good” third-quarter results on 24 October.
Marks and Spencer Group PLC (LSE:MKS) shares were higher in early trading after Deutsche Bank upgraded its share price target from 350p to 430p, advising investors to 'buy' the stock.
This valuation change reflects strong ongoing sales in M&S's Food division, a pick-up in its Clothing sales, and double-digit percentage growth in sales from its partnership with Ocado Retail.
Revolution Beauty Group PLC shares dropped 12% after reporting sales dipped by a fifth over the first half of the year.
Sales declined by 20% to £72 million in the six months to August, as Revolution assured growth was set to return later in the year and profits would be in line with the last.