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The Markets
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The Markets
by Proactive
Proactive UK has moved.
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Pharma & Biotech

Tuesday's most followed, including TalkTalk, BP, drones, House of Lords and Strat Aero

Oil giant BP (LON:BP.), UK economic growth stats and drones delivering shopping were among the variety of topics getting "hits" in web world.

Oil giant BP (LON:BP.), UK economic growth stats and drones delivering shopping were among the variety of topics getting "hits" in webworld.

And of course we ought to talk a little more about TalkTalk (LON:TALK), no, no?

On a day where the UK constitutional experts and historians are probably in seventh heaven, thumbing through books to find out when the last time the House of Lords butted into financial affairs planned by the government, FTSE100 was down around 20 points.

The matter in question of course is the planned cuts to tax credits, which the Lords voted to delay in the second chamber last night.

Market sentiment today was knocked by the latest data from the ONS showing the UK recovery slowed more sharply than expected in the third quarter.

The economy expanded by 2.3% in the three months to September against expectations of 2.4%, which may have been attributable to the poor August weather, dampening construction activity.

It will fuel further the argument that an interest rate rise from the BoE will be later rather than sooner, after economists in a Reuters poll yesterday pushed back their average expectation from the first quarter of 2016 to the second.

BP (LON:BP.) never far from the headlines, went to the top of FTSE100 today, as traders appeared to welcome the oil titan's third quarter report.

Notably, the firm sees crude prices at around US$60 right through to the end of 2017, as it laid out plans to deliver balanced cash-flows in the medium term.

To market float news, often well followed, or not as the case may be, it emerged share registrar and pension administrator Equiniti will make its debut priced at the bottom of its target price range, due to slowing demand for new shares.

The company provides registrar services to around two thirds of FTSE 100 companies and said its float offer price has been set at £1.65 per share. The total market cap will therefore be £495 million

Recently brokers had hoped the shares would fetch up to 200p each.

There was another installment of the Talk Talk cyber hacking scandal - it was that a 15 year old boy in Northern Ireland has been arrested and questioned in connection with the data theft attack. This took tech specialists by surprise as they had assumed it was the work of Isis terrorists or a country such as Russia.

Also today, "Could your next Asda shop be delivered by drone?" was a question posed in an article in CITY AM.

Walmart, the Asda owner, has applied to US regulators to ask for permission to test out drones for delivery services, it reported.

Topically, it came on a day when Strat Aero (LON:AERO) shares advanced over 7% in morning trade as it landed a £1.3mln contract to provide unmanned aerial vehicle (UAV) services (drones) for a UK civil engineering project.

Barhale Plc has hired Strat Aero subsidiary Geocurve Holdings for work on a project for Anglian Water. It is a small part of work envisaged in Barhale’s £1.25bn framework contract with the water utility group.

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