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UK economy to shrink more than 11% this year, says Sunak
The UK economy is forecast to contract by a historic 11. 3% this year as government borrowing nears £400bn, the chancellor Rishi Sunak warned on Wednesday.
Wednesday broker round-up
Codemasters Group: Berenberg downgrades to hold with a target price of 485p.
Brexit deal impossible to call, Brussels warns
The president of the European commission said she could not predict whether the EU would strike a post-Brexit trade deal with the UK with little more than a month until the deadline.
Weekly US jobless claims rise unexpectedly in latest week
First time unemployment claims in the US registered a moderate and unexpected rise last week.
Berenberg lowers Codemasters to 'hold'
Analysts at Berenberg lowered their rating on video games developer Codemasters from 'buy' to 'hold' on Wednesday as a result of Take-Two Interactive's impending takeover.
AEX Gold posts positive drilling results from Nalunaq
Greenland-focussed AEX Gold updated the market on its 2020 exploration drilling campaign at the Nalunaq property in South Greenland on Wednesday, reporting that the results were complementary to the drilling results reported on 21 October.
Petra Diamonds sells collection of 5 blue diamonds for $40.4m
Petra Diamonds said on Wednesday that it has sold the Letlapa Tala Collection of five blue diamonds for $40. 36m.
Sigma ups stake in the PRS REIT
Private rented sector, developer and urban regeneration specialist Sigma has acquired 1,500,000 ordinary shares in the PRS REIT, it announced on Wednesday, at an average price of 76p per share.
Xeros tech to be used in India denim-finishing machines
Clothing and fabric platform technologies company Xeros Technology Group announced on Wednesday that its Indian license partner Ramsons Garment Finishing Equipment has received an order for nine denim finishing machines incorporating Xeros' technologies.
IronRidge reports 'very positive' test results from Ewoyaa
Africa-focussed minerals exploration company IronRidge Resources reported additional “very positive” metallurgical test results from the Ewoyaa Lithium Project within the Cape Coast Lithium Portfolio in Ghana on Wednesday.
OPG collects £9.5m in contractual claims payments
OPG Power Ventures said on Wednesday that it has collected contractual claims payments from its customers under power purchase agreements, totalling £9. 5m.
Drumz upbeat on performance with Acuity investment
Drumz updated the market on its investment in Acuity Risk Management on Wednesday, a company in which it purchased a 20% share on 7 September, with an option to acquire a further 5%.
ScS names Steve Carson chief executive
ScS Group has appointed the former head of Holland & Barrett as its new chief executive, the furniture and floorings retailer confirmed on Wednesday.
US pre-open: Futures mixed following record setting gains in previous session
Wall Street stocks were mixed ahead of a slew of data and after the Dow Jones closed out the previous session above 30,000 for the first time in its history.
Europe midday: Shares head south as early gains evaporate
European shares turned south at midday on Wednesday as bank-driven gains in the morning were lost.
G4S to resume divi payments in 2021; Rejects GardaWorld bid again
Private security firm G4S, currently fending off a £3bn takeover bid from smaller rival GardaWorld, said it planned to resume dividend payments next year and urged shareholders once again to reject overtures from its unwanted suitor.
London midday: Stocks turn lower as banks retreat; spending review eyed
London stocks had turned lower by midday on Wednesday, with banking shares under the cosh, as investors eyed Chancellor Rishi Sunak’s spending review.
Costs cuts pay off for de La Rue as profits soar
UK banknote and passport printer De La Rue reported a huge rise in first-half profit on Wednesday, driven by cost cuts under its turnaround plan and said it was in early talks with governments on Covid-19 immunity certificates.
Restated results reveal £46m loss at Lookers
Lookers plunged into the red in 2019, it emerged on Wednesday, as the car dealership finally published much-delayed restated results.
Fulham Shore says business bounced back in second quarter
Fulham Shore said it made back much of the profit lost during the first Covid-19 lockdown but warned changing government measures made the outlook too uncertain to provide guidance.