London stocks closed in a mixed state on Wednesday as the pound recovered from earlier losses, amid ongoing concerns about the prospect of tighter lockdown restrictions.
European shares turned in a slightly mixed performance as investors eyed the latest round of third quarter US bank earnings, Brexit developments ahead of a major European Union summit the next day and worries over another pause in a Covid-19 vaccine trial.
Investors' focus on Thursday will be on the European Union summit being held in Brussels and on a barrage of high-frequency indicators that was set for release in the States.
Pharma paced losses on the FTSE 350 after analysts at Citi downgraded the lot to 'neutral', citing "potential US election risk".
Bigblu Broadband revealed on Wednesday that non-executive director Christopher Mills had purchased 2. 89m ordinary shares in the AIM-listed rural broadband services provider via his interest in Harwood Capital.
Analysts at JPMorgan slashed their target price on real estate investment trust Hammerson from 185. 0p to 30. 0p on Wednesday, stating the group appeared to be "two to three years away" from pursuing its value-enhancing strategy.
Touchstone Exploration has completed drilling the Chinook-1 exploration well on the Ortoire exploration block, onshore Trinidad and Tobago, it announced on Wednesday, where it has an 80% working interest as the operator, with Heritage Petroleum Company holding a 20% working interest.
London’s FTSE 250 was up 0. 3% at 17,938. 17 in afternoon trade on Wednesday.
Marketing services company System1 updated the market on its trading for the six months ended 30 September on Wednesday, reporting that the half-year saw a “marked reduction” in sales compared to the prior year, due partly to the impact of Covid-19 on the business of many of its clients.
Asset management consultancy MJ Hudson has acquired Ireland-based funds service Bridge Group, it announced on Wednesday, conditional on regulatory approval.
Wall Street stocks were higher at the bell on Wednesday amid a flurry of corporate earnings.
London’s FTSE 100 was down 0. 5% at 5,942. 26 in afternoon trade on Wednesday.
JPMorgan Cazenove downgraded Diploma to ‘neutral from ‘overweight’ on Wednesday following "a surprisingly strong" share price reaction to the Windy City Wires acquisition.
The recent economic recession in the US will go down on record as its harshest, but likely also its briefest, a top Federal Reserve official said.
Watches of Switzerland has appointed Ian Carter as non-executive chairman with effect from 1 November.
Apple surprised analysts on Tuesday evening with the roll-out of its new iPhone 12, especially as regards pricing, which analysts said could entice more consumers to upgrade their terminals.
Producer prices in the States increased more than expected last month, boosted by higher prices for food.
Prospex Energy has signed a sale and purchase agreement with H2Oil for the sale of its wholly-owned subsidiary PXOG Massey, it announced on Wednesday.
Wells Fargo posted some disappointing third-quarter earnings on Wednesday as low rates hurt the bank's net interest income throughout the period.
Security and surveillance software developer Petards has been awarded a contract to supply railway rolling stock maintenance company Porterbrook Maintenance with its ‘eyeTrain’ systems.