Market Pulse
US pre-open: Stocks to edge up as earnings roll in; MS and BNY Mellon report
US stock futures pointed to moderate gains at the open on Wednesday as investors braced for more earnings releases, with Morgan Stanley, BNY Mellon and PepsiCo in focus.
London midday: Stocks maintain mild losses as inflation holds steady
London stocks were a still a touch lower by midday on Wednesday despite the release of better-than-expected Chinese growth figures, as the latest UK inflation data undershot expectations.
UK inflation holds steady at 1.9% in March
UK inflation unexpectedly held steady in March, according to data released on Wednesday by the Office for National Statistics, easing pressure on the Bank of England to hike interest rates.
Enteq says profits 'materially ahead of expectations', ups guidance again
Oilfield services outfit Enteq saw better than anticipated trading in the tail end of the financial year, with earnings now expected to top previous estimates.
US-China deal could give Beijing dangerous trade tool
Treasury Secretary Steven Mnuchin said on Monday that the US agreed with China that the enforcement mechanism of fair trade will be reciprocal, in a move that some observers believed might harm US companies and the World Trade Organization itself.
Fusion Antibodies revenues soar in strong second half
Pharmaceutical research outfit Fusion Antibodies reported a strong second half on Wednesday, driven by a significant increase in orders.
IBM revenues slip as cloud sales falter
Computer giant IBM saw revenues slip in the first quarter after sales faltered at its cloud computing division.
Dart Group forecasts profits 'slightly' ahead of expectations
Aviation and distribution outfit Dart Group said it expected full-year pre-tax profits to be slightly ahead of market expectations.
Europe open: Stocks off to flat start despite strength in technology and autos
Stocks have gotten off to a flat start on Wednesday, with poorly received quarterly updates from US tech giants IBM and Netflix offsetting the boost to sentiment from stronger than expected activity data released overnight in China.
Bunzl revenue growth slows in Q1 as North America weighs
Distribution and outsourcing group Bunzl said on Wednesday that underlying revenue growth slowed in the first quarter, mostly due to its North America operations, as it announced the recent acquisition of Netherlands-based distributor Coolpack.
Pendragon launches review as it posts loss amid 'challenging' conditions
Car dealership Pendragon said on Wednesday that it had launched a review of its operations and financial prospects as it reported a loss for the three months to the end of March 2019.
Netflix earnings, subscriber additions beat estimates
Streaming giant Netflix reeled in more new subscribers in the first three months of the year than it had ever before, adding 9. 6m new users.
London open: Stocks slip as investors mull China data; UK inflation in focus
London stocks were a little lower in early trade on Wednesday despite the release of better-than-expected Chinese growth figures, as investors looked ahead to UK inflation data.
Countryside Properties on track for full year; COO steps down
Housebuilder Countryside Properties said on Wednesday that it was on track to deliver full-year results in line with expectations as it posted a 43% jump in first-half completions and announced the departure of its chief operating officer.
London pre-open: Stocks to edge lower after China data, ahead of UK inflation
London stocks were set for a slightly weaker start on Wednesday as investors mulled the release of better-than-expected Chinese growth figured and looked ahead to UK inflation data.
Wednesday newspaper round-up: Asda, Intel, Netflix, Mastercard
The global financial system faces an existential threat from climate change and must take urgent steps to reform, the governors of the Bank of England and France’s central bank have warned, writing in the Guardian. In an article published in the Guardian on Wednesday aimed at the international financial community, Mark Carney, the Bank’s governor, and Villeroy de Galhau, the governor of the Banque de France, said financial regulators, banks and insurers around the world had to “raise the bar” to avoid catastrophe.