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Wednesday newspaper round-up: Apple, The Hut Group, Sterling
Apple may slash the number of iPhone 13s it will make this year by up to 10m because of a shortage of computer chips amid a worldwide supply chain crunch that led the White House to warn that “there will be things that people can’t get” at Christmas. Apple was expected to produce 90m units of the new iPhone models this year but has told its manufacturers that the number would be lower because chip suppliers including Broadcom and Texas Instruments were struggling to deliver components, Bloomberg reported on Tuesday.
The three risks that endanger the Bitcoin rally in the fourth quarter
The tables have turned in the cryptocurrency market during this last month and quarter, and Bitcoin bulls are celebrating the recent rally, whose target is none other than the all-time highs at $65,000 of the queen of 'cryptos' in April. Sentiment is decidedly bullish and beyond possible profit-taking and occasional pullbacks, investors, especially the 'hodlers', the strong hands in the market, are confident that nothing can blow the upward momentum out of the water.
FTSE 250 movers: Man Group up after Q3 update; Centrica drops
London’s FTSE 250 was up 0. 7% at 22,614. 88 in afternoon trade on Wednesday.
US open: Stocks mixed as inflation rises at faster-than-expected pace
Wall Street stocks were mixed early on Wednesday as market participants digested some major bank earnings and a hotter-than-expected monthly inflation report.
FTSE 100 movers: Housebuilders rally; miners in the red
London’s FTSE 100 was flat at 7,128. 24 in afternoon trade on Wednesday.
US close: Dow Jones ends session flat as Q3 earnings season begins
Wall Street stocks turned in a mixed performance on Wednesday as market participants digested major bank earnings and a hotter-than-expected monthly inflation report.
Broker tips: Informa, RHI Magnesita, Britvic, Johnson Matthey
UBS downgraded its stance on business intelligence and exhibitions group Informa on Wednesday to 'sell' from 'neutral', saying the travel recovery was likely to be slower than the market expects and that it anticipates seeing material short-term earnings downgrades.
Director dealings: Asos non-executive director raises stake
Asos revealed on Wednesday that non-executive director Ian Dyson had acquired 4,500 ordinary shares in the online retailer.
Amazon could owe delivery drivers as much as £140m
Online retail giant Amazon may owe drivers as much as £140. 0m, according to law firm Leigh Day.
Brickability H1 revenues expected to have shot up 200% yoy
Construction materials distributor Brickability Group said on Wednesday that interim group revenues were expected to have risen 200% year-on-year.
THG unaware of reason for 35% share price slump
THG, formerly The Hut Group, said on Wednesday that it was not aware of any reason for the slump in its share price a day earlier.
Victoria to beat market forecasts on full-year profit
Flooring company Victoria said in a trading update on Wednesday that its underlying profit before tax would be ahead of consensus market expectations for the year ending 2 April.
Europe midday: Shares rebound on strong results, Entra bid
European stocks had rebounded by midday after a sluggish start on Wednesday as strong corporate updates and takeover activity boosted sentiment.
Berenberg lowers target price on Johnson Matthey
Analysts at Berenberg lowered their target price on diversified chemicals group Johnson Matthey from 3,800. 0p to 3,600. 0p on Wednesday ahead of the firm's interim results next month.
London close: Housebuilders in the green as stocks finish higher
London stocks closed in positive territory on Wednesday, helped along by a strong showing in the housebuilding sector, as investors digested the latest UK GDP reading.
Caledonia Mining producing at upper end of full-year guidance
Caledonia Mining updated the market on its gold production from the Blanket Mine in Zimbabwe for the September quarter on Wednesday, narrowing its production guidance range for the year.
1Spatial awarded multi-year framework deal as part of consortium
Location technology company 1Spatial announced the award of a new multi-year framework agreement by Land and Property Services (LPS) in Northern Ireland, in conjunction with a consortium led by Version1, to support the Department of Finance's ongoing digital transformation programme.
Harland & Wolff set to be granted licence for gas storage project
Shipyard and energy infrastructure company Harland & Wolff announced on Wednesday that its subsidiary Islandmagee Energy (IMEL) has been notified by the Northern Ireland Department of Agriculture, Environment and Rural Affairs (DAERA) that it would issue the environmental consent decision, marine licence, reviewed abstraction licence and discharge consent for the Islandmagee Gas Storage project.
WPP's Finsbury Glover Hering to merge with SVC
WPP announced on Wednesday that its majority-owned subsidiary Finsbury Glover Hering, and Sard Verbinnen & Co (SVC), have reached agreement on the terms of a merger to create a “leading” strategic communications firm.
Alien Metals awaiting results of Hancock scoping study
Minerals exploration and development company Alien Metals updated the market on the Hancock Iron Ore Project in the Pilbara region of Western Australia on Wednesday, following the publication of its maiden inferred resource on 22 September.