Market Pulse
Bank of America Q4 earnings beat expectations despite tax charge
Bank of America posted better-than-expected fourth-quarter earnings on Wednesday, even as it took a big hit from US tax reforms.
Actual Experience revenues halved as group switches focus
UK-based analytics firm Actual Experience saw revenues halve last year after a decision to concentrate sales via its four channel partners, a strategy the group expects to see revenues rebound in 2018.
Europe midday: Dax flattens as euro dips on ECB comments
European stocks were mixed on Wednesday as inflation remained subdued and European Central Bank talk pushed the single currency lower.
Drax to convert fourth biomass unit by second half of this year
Drax said on Wednesday that it plans to complete work on the conversion of a fourth unit to biomass in the second half of this year, returning it to service in late 2018.
London midday: Stocks stay down as Burberrry, Pearson disappoint; M&A in focus
London stocks were still in the red by midday on Wednesday, weighed down by disappointing updates from the likes of Burberry and Pearson, while Informa tumbled on news of a merger with UBM.
Eurozone inflation remains subdued to keep ECB on toes
Eurozone inflation was confirmed at the subdued level of 1. 4% last month, keeping the issue at the forefront of the European Central Bank's thoughts.
Toople narrows losses on quadrupled broadband orders
Business broadband provider Toople saw revenues grow 34% in the year to 30 September 2017 thanks to a quadrupling of customer orders and improving margins.
US pre-open: Stocks to rebound as investors eye more bank earnings
US stocks looked set for a firmer open on Wednesday, rebounding from losses in the previous session as investors eyed earnings from the likes of Bank of America and Goldman Sachs and a series of speeches by Federal Reserve officials.
Informa and events rival UBM propose £10bn merger
Informa, the events and specialist publishing group, has agreed a potential merger with events-focused rival UBM in a deal that is expected to create a £10bn giant and generate "significant synergies".
Melrose offer rebuffed again as it goes hostile in bid for GKN
Melrose Industries has gone hostile with its bid for GKN, making a sweetened offer of 430. 1p per share, or £7. 4bn, but the engineer has rebuffed it again.
Burberry sales stumble but Gobbetti confident with new direction
Burberry reported slower sales growth in the last three months of 2017 than had been expected but the luxury clothes retailer remained confident of sashaying on to hit full year profit targets as initial progress is made on its new strategy.
Utilitywise slides after further delays to full-year results
Energy and water consultancy company Utilitywise announced further delays to the release of its final results for the trading year ended 31 July 2017 after a second independent auditor had completed a review of the group's methodology for determining revenue recognition on its utility procurement contracts.
Winkworth sees FY profit slightly ahead of market expectations
AIM-listed estate agent Winkworth said on Wednesday that revenue for 2017 should be in line with market expectations, while profit is likely to be slightly higher.
IWG rallies on Brookfield, Onex bid report
Shares in serviced office provider IWG, formerly Regus, rallied on Wednesday following a report that Canada's Brookfield Asset Management and Onex Corp are preparing an offer that values the company at around £2. 7bn.
London open: Stocks slip after weak US close; UBM surges on Informa merger
London stocks slipped in early trade on Wednesday, taking their cue from a downbeat session in the US, although deal news helped to keep things interesting.
Europe open: Stocks in the red ahead after ECB guidance rumours
European stocks were in red on Wednesday morning as ongoing political uncertainty in Germany and down day on Wall Street weighed on sentiment ahead of inflation data.
Cineworld FY revenue jumps 12%, launches rights issue for Regal deal
Cineworld reported a jump in full-year revenue on Wednesday as it announced a fully-underwritten rights issue to raise money to part fund its acquisition of US cinema chain Regal.
Dairy Crest appoints FD Tom Atherton as deputy chief executive
Food manufacturer Dairy Crest has appointed its group finance director, Tom Atherton, as deputy chief executive with immediate effect.
London pre-open: Stocks seen down after weak US close; Informa and UBM to merge
London stocks were set for a weaker open on Wednesday after a downbeat session on Wall Street, where equities failed to hold on to their initial gains after the Dow breached the 26,000 level for the first time.
Wednesday newspaper round-up: Carillion, pay gap, Heathrow, GKN
The dramatic collapse of Carillion has started to hit thousands of the firm’s suppliers, as the real world impact of the demise starts to emerge. Subcontractors owed money by the construction and services giant are already being pressurised by their banks and have begun laying off workers, as the threat of contagion afflicting the sector was likened to a near re-run of the banking crisis. - Guardian.