Market Pulse
London close: Stocks manage small gains ahead of US inflation
London markets managed modest gains by the close on Wednesday, as investor sentiment remained cautious ahead of a crucial US inflation report later in the week.
RBC Capital cuts Dr Martens target price
RBC Capital Markets cut its price target on Dr Martens on Wednesday to 85p from 100p as it lowered its estimates for FY24-26 earnings per share by 7% to 10%.
European Metals confident in timeline of Cinovec feasibility study
European Metals Holdings updated the market on progress at the Cinovec Project in the Czech Republic on Wednesday, owned by its 49% subsidiary Geomet, focusing on the ongoing definitive feasibility study.
Great Western Mining posts encouraging results from Olympic Project
Great Western Mining released encouraging results from its ongoing exploration efforts on the Rhyolite Dome gold target on Wednesday, within its Olympic Gold Project in Nevada.
Strix posts growth in full-year revenue and operating profit
Strix Group reported a 35. 2% jump in revenue in its 2023 results on Wednesday, to £144. 6m, accompanied by an increase in gross profit to £57. 2m, up 37. 7%.
Accesso enters partnership with Saudi Entertainment Ventures
Accesso Technology Group announced a partnership on Wednesday with Saudi Entertainment Ventures (Seven), a subsidiary of the Saudi Arabia Public Investment Fund (PIF).
SigmaRoc completes acquisition of CRH's UK lime assets
Lime and limestone specialist SigmaRoc announced the completion of its acquisition of the UK lime operations of CRH on Wednesday, which it first announced on 4 March.
London midday: FTSE drifts lower; Diploma rallies on acquisition
London stocks were a little weaker by midday on Wednesday, struggling for direction as investors eyed a key US inflation reading later in the week.
Ten Lifestyle inks significant contract with Emirates NBD
Ten Lifestyle Group announced a significant multi-year contract with Emirates NBD, a prominent banking group in the Middle East, North Africa and Türkiye region, on Wednesday.
James Halstead reports solid first half
Floor coverings manufacturer and distributor James Halstead reported robust profitability and a record interim dividend in its interim results on Wednesday.
Yen reaches weakest levels in 34 years
The Japanese yen plunged to its weakest level against the US dollar in about 34 years on Wednesday.
US pre-open: Wall Street stocks set for early gains
Wall Street futures were pointing to a higher open on Wednesday following three down days, albeit on dwindling trading volumes ahead of the Easter break.
H&M surges as Q1 results top expectations
Swedish fashion retailer H&M surged on Wednesday after posting better-than-expected results for the first quarter.
JPMorgan puts IAG on ‘positive catalyst watch’ ahead of Q1 results
JPMorgan Cazenove placed shares of BA and Iberia owner IAG on ‘positive catalyst watch’ on Wednesday ahead of first-quarter results and following minor changes to estimates published yesterday.
Old Mutual reports solid growth in challenging market
Old Mutual reported notable growth in its results for 2023 on Wednesday, including a 14% increase in results from operations, reaching ZAR 8. 34bn (£349. 18m), and a 21% rise in adjusted headline earnings to ZAR 5. 86bn.
S4 Capital appoints new COO; revenues drop
Martin Sorrell’s S4 Capital appointed a new chief operating officer on Wednesday as it reported a drop in revenues as clients cut back on advertising spend.
Vanquis returns to profitability in second half
Vanquis Banking Group reported a significant second-half turnaround on Wednesday, as after recording a loss in the first half, its new management team implemented swift changes, resulting in an adjusted profit before tax of £30. 4m in the second six months of 2023.
SSE narrows full-year EPS guidance
SSE said on Wednesday that it was narrowing its guidance for full-year 2023/24 adjusted earnings per share, partly to reflect improved renewables output.
Sirius makes first UK acquisition in Gloucestershire
Sirius Real Estate announced a significant portfolio expansion on Wednesday, with the acquisition of Vantage Point Business Village in Gloucestershire.
Revolution Beauty lifts FY outlook
Revolution Beauty lifted its full-year outlook on Wednesday after continued strong trading.