Market Pulse
US close: Stocks rise as financials, tech issues gain
US stocks ended in the black on Wednesday, underpinned by a strong performance in the financial and technology sectors.
US open: Wall Street gains as dollar slips, banks rise
Gains for banks and commodity-related issues saw Wall Street bounce back from recent weakness despite mixed reports on the economy.
FX round-up: Sterling gets a shove higher as Carney sees potential for rate rise
Sterling got a firm shove higher on Wednesday as Bank of England governor Mark Carney suddenly declared UK interest rates might need to be hiked.
Results round-up
Electronics retail group Dixons Carphone released its preliminary results for the 12 months to 29 April on Wednesday, reporting group like-for-like revenue as growing 4%, with statutory revenue up 9%.
Macquarie raises target price on BT, says investors too pessimistic
Macquarie lifted its recommendation on shares of BT Group to 'outperform' for the first time ever, telling clients that investor caution around the prospects for the operator's future free cash flows had now overshot and that markets were overlooking the upside to be had from its EE unit.
WTI futures jump as DoE data reveals drop in domestic output
Oil futures snapped higher on the heels of US government data showing a drop in domestic oil production, although crude stockpiles did edge higher.
Qatar criticises Saudi Arabia for refusing to negotiate on blockade demands
Saudi Arabia and its Gulf allies have been condemned by Qatar after the alliance refused to negotiate on its 13-strong list of demands to its neighbour.
Royal Philips announces Spectranetics takeover in all-cash deal
Royal Philips, a global leader in health technology together with the Spectranetics, a US-based global leader in vascular intervention and lead management for removing defribillator leads, today announced a definitive merger agreement.
Pound spikes as Carney signals hike in Bank Rate might be closer
The Monetary Policy Committee will need to tighten policy if the 'trade-off' facing policymakers continues to lessen, the Governor of the Bank of England said.
Commodities: Oil shrugs off EIA, API surprise to head higher
Crude-oil futures are skipping higher on Wednesday afternoon as traders saw surprise builds in US inventories as better than they might have been, and despite expectations of a draw.
Big Sofa pleased with progress through AIM admission
Video analytics provider Big Sofa Technologies Group announced its final results for the year to 31 December on Wednesday - a period during which the board said it was “constrained” by limited cash resources prior to its admission to the AIM market in December 2016.
Fairpoint's bank 'unwilling' to provide ongoing support
Consumer-facing professional services provider Fairpoint Group announced on Wednesday that it had been notified by its bank, AIB Group UK, that it was unwilling to provide the level of on-going support requested by the company.
Corero selected to protect unnamed US federal agency
Network security company Corero Network Security announced on Wednesday that its ‘SmartWall’ Threat Defense System technology had been selected to protect an unnamed, “high profile” US Federal Government agency.
FTSE 250 movers: Kier powers ahead, Stagecoach stuck in reverse
Property construction and services group Kier was among the top risers on the FTSE 250 on Wednesday, after it said earlier that it expected full year underlying profits to be in line with expectations.
Veltyco acquires Bet 90 brand, will focus on Nordics and LatAm
Veltyco updated the market on its acquisition of Bet 90 on Wednesday, confirming that the transaction had now been completed.
Euro gives up gains after ECB's Constancio says policy stance unchanged
The single currency's gains evaporated as one of the highest-ranking officials at the European Central Bank said a speech by his boss the day before had not signaled any change in the policy stance.
Petisovci progress slower than expected, says Ascent
Europe-focussed oil and gas exploration and production company Ascent Resources updated the market on its progress at the Petišovci project in Slovenia on Wednesday, with production from Pg-10 continuing “satisfactorily”, with the product being sold to a local industrial customer through partner Geoenergo.
Tesco to cut 1,200 head office jobs in cost-cutting drive
Tesco is planning to axe 1,200 jobs at its head office as it charges ahead with its cost-cutting drive.
Venezuelan supreme court attacked with grenades thrown from helicopter
A Venezuelan police helicopter attacked the country's supreme court building with grenades in what President Nicolas Maduro described as a "terrorist attack".
London midday: Stocks pare losses ahead of Wall Street open
London stocks had pared losses to trade flat by midday amid news of a shake-up for the asset management industry.