Market Pulse
Europe close: Stocks extend rally ahead of US Fed minutes, trade talks
Stockmarkets on the Continent pushed higher on Wednesday, seeing the day out from their session highs, after the US President signaled a more lenient stance towards China on trade and amid talk that Paris and Berlin might be set to agree on a common budget for the Eurozone.
Tesco 'sitting pretty' amid Sainsbury-Asda merger developments, says Jefferies
Jefferies stood by its 'buy' rating of Tesco on Wednesday, commenting that the case for investing in the company's shares remains unchanged after the Competition & Markets Authority's airing of "extensive" concerns over a proposed £13bn merger between Sainsbury's and Asda.
London close: Shares extend gains ahead of Brexit talks, Fed minutes
London stocks finished with solid gains and near their session highs on Wednesday despite the powerful drag from Sainsbury's after the competition watchdog cast doubt over its merger with Asda, with investors waiting on the release of the Federal Reserve meeting minutes after the close and possible developments from Theresa May's latest talks in Brussels.
Broker tips: HSBC, RBS, Marston's
Analysts at JPMorgan downgraded global banking giant HSBC to 'underweight' from 'neutral' on Wednesday, noting the troubled outlook for revenue growth might weigh on prospects for the lender's return on tangible equity for longer than previously thought.
Director dealings: Low & Bonar execs up stake
Low & Bonar chairman Daniel Dayan purchased 364,560 ordinary shares in the London-listed building materials outfit on Wednesday.
Ryanair to open new airport in Toulouse, reaches agreement with BeCA
Low-cost carrier Ryanair revealed that it will open a new airport in Toulouse in October.
FTSE 100 movers: Lloyds leads, investors betting on retailers
The FTSE 100 was on the front foot on Wednesday afternoon, up 0. 6% to above 7,220 as Lloyds and a handful of retailers led the way.
US open: Small gains at the open as US-Sino relations remain in focus
Wall Street opened slightly higher on Wednesday as investors mulled over the latest developments in Sino-US trade relations and looked to the release of Federal Reserve minutes later in the day.
JPMorgan downgrades HSBC to 'underweight', cuts target
Analysts at JPMorgan downgraded global banking giant HSBC to 'underweight' from 'neutral' on Wednesday, noting the troubled outlook for revenue growth might weigh on prospects for the lender's return on tangible equity for longer than previously thought.
Sector movers: Oil and banks higher, food retailers mixed
Oil stocks and banks marched the FTSE 100 back upwards on Wednesday, while a dejected Sainsbury's weighed on the food retail sector.
McBride tumbles after profit warning
European manufacturer McBride warned investors on Wednesday that its full-year adjusted pre-tax profits would come in roughly 10-15% lower than in the year before, as it struggles to cut back on raw material and logistics expenses.
Consensus underestimating potential for higher dividends from RBS, Berenberg says
Analysts at Berenberg reiterated their 'buy' stance and 340. 0p target price on RBS stock despite the shares' outperformance year-to-date, arguing that there was scope for "material" capital returns of roughly 12% per year and that the lender continued to be "undervalued".
Harvest Minerals connects Arapua project to Brazilian power grid
Fertiliser producer Harvest Minerals announced on Wednesday that the Brazilian energy company CEMIG had connected its Arapua multi-nutrient, direct application, natural fertiliser project to the country’s main electricity grid.
Enteq lifts expectations again after bumper second half
Oilfield services technology and equipment supplier Enteq Upstream announced a pre-close trading update ahead of its financial year ending 31 March on Wednesday, reporting that both full-year revenue and underlying EBITDA were expected to be “materially ahead” of its expectations.
Maduro challenges Guaido to new elections and calls him 'Mr. Clown'
Venezuelan President Nicolas Maduro challenged opposition leader Juan Guaido to general elections on Tuesday.
Beximco adds to US portfolio with purchase of Novartis assets
Generic drugs manufacturer Beximco Pharmaceuticals announced the signing of a definitive agreement with Sandoz - a division of Novartis - to acquire a portfolio of eight ‘Abbreviated New Drug Applications’ (ANDAs) in the US on Wednesday, for an undisclosed amount in cash.
Vodafone claims world's first live 5G smartphone connection
Vodafone claimed to have become the world's first operator to connect 5G smartphones to its live 5G network on Wednesday, as it prepared to launch 5G in a number of European cities during the second half of 2019.
TfL picks Go-Ahead and ViaVan for new 'on-demand' bus trial
Transport for London launched a four-week consultation on plans to trial what it called an “innovative on-demand bus service” in the south London borough of Sutton on Wednesday.
Asia report: Stocks rise as Trump hints at deadline delay
Most markets in Asia finished higher on Wednesday, riding a wave of positive sentiment generated by comments from Donald Trump that the looming deadline for a trade deal with China could be postponed.
Marston's brewing business is an ignored asset, says Canaccord
Fuller's sales of its London Pride brand and other brewing operations for almost 24 times profits has led broker Canaccord to rethink valuations of other pubcos.