The FTSE 100 ended Friday up 1.01%, kicking off the last month of the year on a positive note. Anglo American and Antofagasta leading the FTSE 100 higher after being upgraded to buy by UBS who argued that 2024 was likely to be a better year for copper prices, says CMC Markets UK chief market analyst Michael Hewson in a market comment. Friday's upgrade has also helped lift the rest of the sector as well, with Rio Tinto and Glencore also gaining, Hewson says. On the downside, Tesco shares slipped after being on the receiving end of a downgrade from JPMorgan with a price target of 230 pence, with Ocado and Sainsbury also sliding back, Hewson says.


Rentokil Appoints Brad Paulsen as CEO of North America Region

Rentokil Initial said it has appointed Brad Paulsen as chief executive of its North America business with effect from December.


Siemens's Acquisition of Heliox Cleared by UK Regulator

The acquisition of Heliox by a Siemens subsidiary has been cleared by the U.K.'s Competition and Market Authority.


DP Eurasia Advises Shareholders to Take No Action Over Jubilant FoodWorks Takeover

DP Eurasia said that shareholders shouldn't take any action over Jubilant FoodWorks mandatory 124.6 million pounds ($157.3 million) offer for the company.


Fresnillo Splits COO Duties Into Regions; Appoints Tomas Iturriaga, Daniel Diez

Fresnillo said it has split the responsibilities of its chief operating officer regionally and named Tomas Iturriaga and Daniel Diez as COOs of its central and north operations, respectively.


Anglo American Set to Gain From Resilient Metal Prices

1042 GMT - Weakness in Anglo American shares should be seen as a buying opportunity as the diversified miner stands to benefit from improving or resilient metals prices, UBS analysts write in a research note. The Swiss bank sees improving copper prices, resilient iron and steelmaking-coal prices, and recovering platinum metals and rough diamond prices in 2024-25, all of which Anglo American has significant exposure to, it says. Investors should expect cut to production guidance and elevated unit costs and capital spent at next week's investor update, although "this is likely to be the last of the negative news," it says, adding any weakness would be an enhanced buying opportunity. UBS lifts its stock rating to buy from neutral. Shares are up 7.2% at 2,296 pence. (


UK House Prices Showing Resilience After Rate-Hikes Paused

1015 GMT - Following October's uptick in U.K. house prices, it is encouraging to see the market continued similarly in November, demonstrating remarkable resilience, OnTheMarket says, citing new Nationwide data. The Bank of England's pause in rate hikes gives buyers who need mortgages confidence that rates are at their peak, and borrowers can better plan for the future, boosting market stability, OnTheMarket chief executive Jason Tebb says in a market comment. "Property seekers at this time of year are highly motivated but remain sensitive on price, so sellers keen to transact must continue to be realistic with regards to their expectations," Tebb says. Barratt Developments and Persimmon stock is up 1.05% and 1.6% respectively. (

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(END) Dow Jones Newswires

12-01-23 1204ET