Market Report
US close: Stocks rise as financials, tech issues gain
US stocks ended in the black on Wednesday, underpinned by a strong performance in the financial and technology sectors.
Prime London areas face significant house price drops
Average prices in London's most luxurious districts continue to slip lower as increased economic and political uncertainty takes its toll, according to research from broker Savills.
US open: Wall Street gains as dollar slips, banks rise
Gains for banks and commodity-related issues saw Wall Street bounce back from recent weakness despite mixed reports on the economy.
FX round-up: Sterling gets a shove higher as Carney sees potential for rate rise
Sterling got a firm shove higher on Wednesday as Bank of England governor Mark Carney suddenly declared UK interest rates might need to be hiked.
Europe close: Stocks close well off lows despite FX volatility
A strong start to the day on Wall Street buoyed European stocks, offsetting the impact of a stronger euro and the somewhat contradictory headlines swirling around the European Central Bank and Bank of England.
Results round-up
Electronics retail group Dixons Carphone released its preliminary results for the 12 months to 29 April on Wednesday, reporting group like-for-like revenue as growing 4%, with statutory revenue up 9%.
Broker tips: BT Group, Provident Financial, William Hill
Macquarie lifted its recommendation on shares of BT Group to 'outperform' for the first time ever, telling clients that investor caution around the prospects for the operator's future free cash flows had now overshot and that markets were overlooking the upside to be had from its EE unit.
Macquarie raises target price on BT, says investors too pessimistic
Macquarie lifted its recommendation on shares of BT Group to 'outperform' for the first time ever, telling clients that investor caution around the prospects for the operator's future free cash flows had now overshot and that markets were overlooking the upside to be had from its EE unit.
London close: FTSE down as Carney, Draghi plead 'Don't let me be misunderstood'
Stocks in London flopped to a lower close Wednesday as Bank of England governor Mark Carney and European Central Bank chief Mario Draghi separately sought to ensure their earlier comments to the market were not misunderstood.
WTI futures jump as DoE data reveals drop in domestic output
Oil futures snapped higher on the heels of US government data showing a drop in domestic oil production, although crude stockpiles did edge higher.
Qatar criticises Saudi Arabia for refusing to negotiate on blockade demands
Saudi Arabia and its Gulf allies have been condemned by Qatar after the alliance refused to negotiate on its 13-strong list of demands to its neighbour.
Royal Philips announces Spectranetics takeover in all-cash deal
Royal Philips, a global leader in health technology together with the Spectranetics, a US-based global leader in vascular intervention and lead management for removing defribillator leads, today announced a definitive merger agreement.
Pound spikes as Carney signals hike in Bank Rate might be closer
The Monetary Policy Committee will need to tighten policy if the 'trade-off' facing policymakers continues to lessen, the Governor of the Bank of England said.
Commodities: Oil shrugs off EIA, API surprise to head higher
Crude-oil futures are skipping higher on Wednesday afternoon as traders saw surprise builds in US inventories as better than they might have been, and despite expectations of a draw.
Big Sofa pleased with progress through AIM admission
Video analytics provider Big Sofa Technologies Group announced its final results for the year to 31 December on Wednesday - a period during which the board said it was “constrained” by limited cash resources prior to its admission to the AIM market in December 2016.
Fairpoint's bank 'unwilling' to provide ongoing support
Consumer-facing professional services provider Fairpoint Group announced on Wednesday that it had been notified by its bank, AIB Group UK, that it was unwilling to provide the level of on-going support requested by the company.
Corero selected to protect unnamed US federal agency
Network security company Corero Network Security announced on Wednesday that its ‘SmartWall’ Threat Defense System technology had been selected to protect an unnamed, “high profile” US Federal Government agency.
FTSE 250 movers: Kier powers ahead, Stagecoach stuck in reverse
Property construction and services group Kier was among the top risers on the FTSE 250 on Wednesday, after it said earlier that it expected full year underlying profits to be in line with expectations.
Veltyco acquires Bet 90 brand, will focus on Nordics and LatAm
Veltyco updated the market on its acquisition of Bet 90 on Wednesday, confirming that the transaction had now been completed.
FTSE 100 movers: Hargreaves on the slide; Bunzl a bright spot
A warning to asset managers from the Financial Conduct Authority to get their houses in order over fee structures held the Footsie back on Wednesday, with Hargreaves Lansdown leading the losers list.