Market Pulse
Broker tips: Lloyds Bank, IMI, Fever-Tree, InterContinental Hotels
Lloyds Banking Group's capital and dividend strength is a “key attraction” for investors, said broker RBC Capital Markets after the bank brightened the sector with full year pre-tax profits of £4bn.
CORETX establishes new facility as it scales up operations
Mid-market network, cloud and IT managed services provider CORETX Holdings announced that it was establishing a new facility on Wednesday, to enhance its full ‘IT Lifecycle’ services which cover the deployment and secure management of new generation end user devices, in line with its strategy to meet customer demand for a broader range of IT managed services.
NetScientific investment launches biopsy system
Healthcare intellectual property commercialisation group NetScientific announced on Wednesday that its portfolio company, Vortex Biosciences, had begun the commercial launch of the VTX1 Liquid Biopsy System.
Christmas brings sweet numbers for Hotel Chocolat
Premium chocolatier and retailer Hotel Chocolat Group announced its interim results for the 26 weeks to 25 December on Wednesday, with proforma revenue up 12% to £62. 5m and reported revenue up 14% to £62. 5m.
Beowulf starts graphite drilling programme in Finland
Nordic-focussed mineral exploration and development company Beowulf Mining announced on Wednesday that drilling had started at its Aitolampi graphite prospect in Finland, part of its 100% owned exploration permit Pitkäjärvi 1.
Pan African posts solid half-year despite lower gold production
Pan African Resources posted its results for the six months to 31 December on Wednesday, with the group’s profit after taxation in rand terms increasing by 9. 8% to ZAR 249. 8m, while in sterling terms, it was up 28. 4% to £14m.
Asia report: Most markets higher after bumper US session
Most markets in Asia finished green on Wednesday, following a bumper Tuesday session on Wall Street overnight, with investors still looking for direction from the Trump administration on banking deregulation and tax reform.
London midday: Stocks nudge up as Lloyds impresses, GDP revised higher
Stocks in London were a smidgen higher at midday following solid earnings from Lloyds Banking Group and news that the UK economy grew slightly faster than expected in the final quarter of last year.
Europe midday: Stocks little changed as investors mull inflation data
European equity markets were little changed on Wednesday as investors digested news that the eurozone has escaped deflation, while the euro weakened.
Macron's lead over Le pen widens slightly
French independent candidate Emmanuel Macron´s backing among voters ticked higher on Wednesday, as that for his Socialist contender Benoit Hamon slipped.
Serco FY pre-tax profit up, trading profit down
FTSE 250 outsourcer Serco reported a drop in trading profit for the year to the end of December as revenue declined, but it swung to a pre-tax profit and reiterated its guidance for 2017.
MTI Wireless Edge wins $1.8m contract with broadband provider
Shares in MTI Wireless Edge climbed on Wednesday after the antenna maker said that it had won a new $1. 8m contract from an existing customer in the broadband wireless access sector.
Barclays cuts InterContinental Hotels as shares 'up with events'
Barclays cut its rating of Holiday Inn owner, InterContinental Hotels Group to ‘equal weight’ from ‘overweight’ and left its price target unchanged at 4,000p in light of recent US business confidence data.
Thyssenkrupp rallies as it agrees sale of Brazil steel plant
Thyssenkrupp has agreed to sell its steel plant in Brazil, CSA Siderúrgica do Atlântico, to Ternium SA for €1. 5bn.
Walmart reports online sales surge in fourth quarter earnings report
US retailer Walmart Stores reported fourth quarter earnings which were better than expected, showing a surge in online sales which highlights its ability to keep up with ecommerce-based rivals.
Liberum initiates coverage on IMI with 'buy' as costs normalise
Liberum has begun coverage of engineer IMI with a 'buy' rating as it sees an improvement in costs leading to earnings forecasts standing 15% ahead of the analyst consensus.
US pre-open: Stocks seen muted as investors eye FOMC minutes
US futures pointed to a muted open on Wall Street, with investors likely to pause for breath following fresh record closes in the previous session and ahead of the minutes from the latest Federal Reserve meeting.
Mercia Technologies wins EU contracts to invest in northern businesses
Mercia Technologies, which funds technology businesses, has won two contracts to manage the British Business Bank’s new Northern Powerhouse Investment Funds worth £108. 5m.
German Ifo business confidence unexpectedly improves in February
German business confidence unexpectedly improved in February, according to a widely-followed survey.
Wednesday broker round-up
BHP Billiton: Citigroup reiterates Buy with a target price of 1650p.