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US close: Stocks end session higher following Powell testimony
Wall Street closed higher on Tuesday after testimony from Federal Reserve Chairman Jerome Powell earlier in the day.
Sector movers: Tobacco and Big Oil pace gains but remain near multiyear lows
Tobacco stocks finished higher against the backdrop of a small bounce for London shares more generally, boosted by an upgrade out of analysts at RBC.
Europe close: French and Spanish issues miss out on small bounce
European stocks finished the Tuesday session on a mixed note despite the sell-off endured over the previous three sessions with French and Spanish shares weaker due to concerns around the still quickly rising number of Covid-19 infections in both.
Wednesday preview: Fed's Powell, global PMIs in focus
The focus over the coming week will continue to be on the Federal Reserve as its chairman, Jerome Powell, testifies before the US House of Representative's panel on Covid-19.
London close: FTSE finishes higher after turbulent session
London’s top-flight index closed in positive territory on Tuesday, steadying after heavy losses in the previous session as investors mulled updates from the likes of Kingfisher and Whitbread.
Broker tips: EasyJet, Superdry, RDI REIT
Citigroup has slashed its price target for EasyJet as it reduced full-year forecasts for the low-cost carrier.
Director dealings: Record chairman offloads shares
Record revealed on Tuesday that chairman Neil Record had disposed of 4. 0m ordinary shares in the London-listed currency manager.
SigmaRoc acquires rest of Welsh quarrying firm GDH
Construction materials company SigmaRoc has acquired the remaining 60% of South Wales-based quarrying group GDH, it announced on Tuesday.
Shanta Gold expands processing capacity at New Luika
East Africa-focussed gold producer Shanta Gold announced the expansion of processing capacity at the New Luika Gold Mine on Tuesday.
FTSE 250 movers: Network International gains; Beazley in the red
London’s FTSE 250 was down 0. 1% at 16,861. 24 in afternoon trade on Tuesday.
Morgan Stanley says CCH and Britivic shares not reflecting pace of recovery
Analysts at Morgan Stanley expressed a preference for soft drinks within the wider Beverages universe, reiterating their 'overweight' stance for the likes of CCH and Britvic.
Tuesday broker round-up
Imperial Brands: RBC Capital Markets upgrades to outperform with a target price of 1,900. 0p.
US existing home sales continue growing in August
Second-hand home sales continued growing at a brisk pace last month, the latest available industry data showed.
US open: Modest gains ahead of Powell testimony
Wall Street trading got off to a mostly positive start on Tuesday ahead of testimony from Federal Reserve Chairman Jerome Powell later in the day.
FTSE 100 movers: Kingfisher rallies on results; insurers retreat
London’s FTSE 100 was up 0. 7% at 5,846. 40 in afternoon trade on Tuesday following heavy losses in the previous session.
Citi cuts price target for easyJet
Citigroup has slashed its price target for easyJet as it reduced full-year forecasts for the low-cost carrier.
Pubs to shut at 10pm as government ramps up Covid-19 restrictions
The government has announced a fresh range of restrictions to be in place for at least six months after the number of Covid-19 cases surged.
Ethernity signs technology deal with Indian manufacturer
Networking technology company Ethernity has signed a contract to provide an Indian telecoms original equipment manufacturer (OEM) with end-to-end system functionality, it announced on Tuesday, to enable up to 360Gbps cell site router (CSR) appliances.
FDA response delays Hikma's generic Advair Diskus
Hikma Pharmaceuticals lowered its guidance for 2020 on Tuesday, following a response letter from the US Food and Drug Administration (FDA) over the abbreviated new drug application for its generic version of GlaxoSmithKline's ‘Advair Diskus’, or fluticasone propionate and salmeterol inhalation powder, it announced on Tuesday.
Iofina refinances its entire debt with US bank agreement
Iodine and specialty Iofina has signed binding documentation to refinance its entire debt, it announced on Tuesday, by entering into a new loan agreement with the Cincinnati-based US regional bank First Financial Bank.