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US stocks fell sharply on Thursday after data confirmed the stickiness of inflation in the first quarter despite a drop in economic growth which pushed bond yields to their highest in six months.
Microsoft beat Wall Street estimates for its third-quarter revenue last night, driven by gains from artificial intelligence adoption across its cloud services and business software products. The company said its revenues had risen to $61.9 billion, up by 17 per cent and exceeding the $60.8 billion, or 15 per cent rise, that had been forecast. Its net income was $21.9 billion, up by 20% from the year before. - The Times
UK stocks are expected hit more record highs on Friday as investors continued to digest another round of corporate earnings ahead of some crucial economic data from the US later on.
Aerospace and defence components manufacturer Senior said on Friday that trading over the first quarter has been in line with expectations with strong growth in commercial aerospace, as it held on to guidance for the full year.
Anglo American on Friday rejected an "opportunistic" £31bn bid from rival miner BHP, saying it significantly undervalued the company.