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Ferguson's North American momentum could lead to upgrades, says Canaccord
With Ferguson shares now touching an all-time high, analysts at Canaccord Genuity expect the group to report a "good" and "supportive" third-quarter update on 19 June, with attractive profit growth driven by strong US organic growth and margin improvement.
London midday: Energy stocks lift FTSE after ECB comments, trade progress
London stocks regained some ground on Wednesday as commodity stocks were boosted by a weaker dollar, encouraging sounds from China-US trade talks and the euro spiking on hawkish comments out of the European Central Bank.
RPC dividends not enough to dispel worries over plastic regulation, strategy
RPC Group disappointed investors despite a successful year turning plastic into cash and dividends, attempting to counter market worries about the crackdown on plastic waste by trumpeting its "unprecedented" opportunities for growth.
Sterling Energy appoints former DEO Petroleum boss as chief executive
Oil and gas exploration firm Sterling Energy announced on Wednesday that David Marshall has been appointed chief executive with immediate effect.
Wednesday broker round-up
Polar Capital Holdings: Numis downgrades to add with a target price of 667p.
Asia report: Markets higher as investors brush off trade concerns
Markets in Asia finished in the green on Wednesday, as investors shrugged off trade concerns after a mixed session on Wall Street overnight.
World Bank warns trade tensions could lead to new global financial crisis
The World Bank has warned that the possibility of policy shocks from major economies and trade tensions such as the escalating tariffs between the US and its trading partners could lead to financial market disruptions and potentially to a large scale financial crisis.
IP Group investment enters into $534m collaboration deal Genentech
Intellectual property-based business IP Group reported on Wednesday that Microbiotica, one of its many portfolio companies, has entered into $534m multi-year strategic collaboration deal with Roche Group subsidiary Genentech.
Papua Mining lands experienced non-executive director
Papua Mining announced on Wednesday that it has added "measurable corporate strength" after appointing Gordon Hart as non-executive director of the company, effective immediately.
Alpha Financial Markets performs 'confidently' in first year on AIM
Asset management consultancy Alpha Financial Markets Consulting continued to "perform confidently" in 2018 as the group saw revenues and profits increase in its first year as a listed company as clients face rising costs from an increased regulatory burden.
Sirius Real Estate disposes of loss-making asset for €3.8m
Business park operator Sirius Real Estate sold off its Bremen Hag business park in Germany for €3. 8m, in line with the property’s book value.
WH Smith makes strides after stronger third quarter
After enjoying stronger trading in the third quarter of its trading year retailer WH Smith felt confident its mix of high street, railway stations and airport locations will allow it to transcend the current economic uncertainty affecting many rivals.
Instem wins contract with Fortune 500 player
Life science IT solutions provider Instem boasted on Wednesday that a large Fortune 500 pharmaceuticals company has adopted its Samarind RMS software-as-a-service (SaaS) solution in a contract worth approximately $0. 75m.
Smurfit Kappa confident going it alone as International Paper drops bid
Smurfit Kappa Group responded to the announcement by International Paper Company that it no longer intended to make an offer for Smurfit Kappa on Wednesday morning, and that it was now bound by the restrictions under Rule 2. 8 of the Irish Takeover Rules.
Tricorn profits soar on contract wins and strong Chinese performance
AIM-quoted pipe and tube specialist Tricorn saw profits soar in its last trading year, thanks to a series of contract wins in the transport and energy sectors.
London open: FTSE rebounds with Smurfit and miners pacing gains
London stocks regained some ground on Wednesday as commodity stocks were boosted by a weaker dollar, with the euro surging off the back of hawkish comments out of the European Central Bank.
Charter Court sells residual stake in Charter Mortgage Funding for £13.8m
Challenger bank Charter Court Financial Services on Wednesday said it was selling its residual interest in the Charter Mortgage Funding 2018-1 plc securitisation for £13. 8m.
Profits charge ahead at acquisition-hungry Workspace
Workspace Group issued its full-year results for the year ended 31 March on Wednesday, reporting profit before tax of £170. 4m - up from £88. 8m - with “significant” increases in both trading profit and property valuation.
London pre-open: Stocks set to gain despite stronger pound
London stocks are expected to rebound on Wednesday after a mixed day on Wall Street but positive Asian session.
Wednesday newspaper round-up: Labour, Brexit, Tesla, emissions, Kate Spade, Sky
Jeremy Corbyn has committed his party to retaining the main elements of Britain’s relationship with the European Union after Brexit in a significant policy shift announced yesterday. The Labour leader and his top team will vote next week for a Commons motion calling for “full access” to the EU’s single market and “shared institutions and regulations” with Brussels. - The Times.