Crude oil and copper futures jumped on Wednesday following a more dovish than expected semiannual testimony from the head of the US central bank before Congress, with the former also boosted by the approach of a tropical storm to the Louisiana coast.
US central bank chairman Jerome Powell signalled on Wednesday that the door was wide open to policy easing, telling lawmakers that there were increased risks bearing down on the US economy from overseas even as price pressures remained muted.
US stocks closed in the green on Wednesday following Federal Reserve chair Jerome Powell's testimony to the House Financial Services Committee.
Mortgage Advice Bureau revealed on Wednesday that non-executive director David Preece had disposed of 72,655 ordinary shares in the AIM-listed financial services firm.
The market spotlight on Thursday will be on US consumer prices for the month of June and a full slate of speeches from top Federal Reserve officials.
Shares of oilfield services outfits and precious metals miners listed on the second-tier index were bid up, as oil and gold futures were pushed higher in the wake of a 'dovish' semiannual testimony from Federal Reserve chairman Jerome Powell before the US House of Representatives financial services committee on Wednesday.
Shares of miners and oilfield services firms paced gains on the top flight index on Wednesday after the head of the US central bank appeared to leave the door open to interest rate cuts, pushing the US dollar lower and crude oil and copper futures higher.
Stocks on the Continent finished lower despite a 'dovish' testimony by Federal Reserve chairman Jerome Powell before the US Congress, as the single currency gained on the back of his remarks and investors focused on his remarks.
London stocks finished the session little changed despite the head of the US central bank opening the door to interest rate cuts, as his remarks put a bid into Sterling.
Donald Trump took to Twitter on Wednesday, claiming that Iran was in violation of the "terrible" $150bn deal made by John Kerry during the Obama administration, accusing it of secretly "enriching" uranium.
Berenberg has reiterated its ‘buy’ rating on the London Stock Exchange, arguing that listed exchanges are fairly valued, despite concerns to the contrary.
In his semiannual Monetary Report to the House Financial Services committee, Jerome Powell outlined how weak economic growth overseas and uncertainty around trade might negatively impact the US even as inflationary pressures were limited.
Verditek announced on Wednesday that its lightweight photovoltaic (PV) panel technology has successfully passed all tests required for IEC 61215 and IEC 61730 certification.
West Africa-focussed production and development company Eland Oil & Gas announced on Wednesday that a remedial tubing patch has been installed on the Gbetiokun-3 well in licence OML40, Nigeria.
Analysts at Berenberg downgraded "fairly valued" aerospace and defence firm Chemring's shares from 'buy' to 'hold' on Wednesday following a solid run by the stock over the last quarter.
Wall Street stocks turned positive following Federal Reserve chair Jerome Powell's testimony to the House Financial Services Committee.
Legal and professional services group Gateley announced on Wednesday that Rod Waldie, who is currently the senior office partner of the Manchester office as well as a “key member” of the group's management board and head of the national property team, has been chosen to succeed Michael Ward as the new chief executive officer when Ward stands down on 30 April.
Central Asia Metals updated the market on first-half operations for the Kounrad dump leach, solvent extraction and electro-winning (SX-EW) copper recovery plant in Kazakhstan and the Sasa zinc-lead mine in North Macedonia on Wednesday, reporting that production was on track to meet full year guidance for copper, zinc and lead.
Copper-gold exploration and development company Bezant announced on Wednesday that its geological survey team has completed an exploration review on the 398 hectare Buffalo copper-gold project in the Central Zambian iron oxide copper-gold (IOCG) belt, over which it held a conditional option to acquire a 50% interest.
Jefferies has reiterated its ‘buy’ recommendation on Boeing, despite a slump in second-quarter deliveries that left rival Airbus poised to overtake the US company as the world’s biggest plane manufacturer.