Market Report
Frankfurt gunning for London-based EU bank regulator
Germany was gunning for a new EU super-agency on Wednesday, as it emerged it wanted to snatch the London-based European Banking Authority in the wake of Brexit to and merge it with the EU’s insurance authority, which is already based in Frankfurt.
Sears sparks fears over survival possibilities, stock price tumbles
US retailer Sears Holdings said on Wednesday that there is “substantial doubt” about whether it can secure its future in a fast-moving retail sector, leading to its shares tumbling more than 15%.
US open: Stocks mixed as investors grow weary over Trump fiscal policies
US stocks were mixed on Thursday following downbeat trading in the previous session, as investors grew increasingly sceptical that President Donald Trump will be able to deliver on his promised tax cuts to boost business.
George Osborne defends Evening Standard editorship to Tatton constituents
Former Chancellor George Osborne has defended his decision to be the next editor of the London Evening Standard to his Tatton constituents.
Wednesday broker round-up
Berendsen: Credit Suisse downgrades to Underperform with a target price of 700p.
Brussels to block LSE-Deutsche Borse merger in coming days, reports say
London Stock Exchange Group's proposed merger with Deutsche Boerse will be blocked by European Commission antitrust regulators, according to reports on Wednesday.
FTSE 250 movers: Ferrexpo gains on results; Berendsen hit by downgrade
London's FTSE 250 was down 0. 9% to 18,823. 54 in afternoon trade.
FTSE 100 movers: Kingfisher slumps; miners shine
Kingfisher slumped after its annual results beat the City's profit forecasts thanks to strong growth from its Screwfix chain, but the company sounded a cautious note on its outlook.
LXi exchanges contracts on Haverhill Travelodge
LXi REIT announced on Wednesday that it exchanged contracts to acquire the Travelodge hotel at Haverhill, Essex.
Results round-up: Kingfisher, Savills, Ferrexpo, Softcat
Annual results from retailer Kingfisher beat the City's profit forecasts thanks to strong growth from its Screwfix chain, but while the transformation of B&Q and French businesses continued, sales began to slow in the second half amid concerns of a consumer slowdown.
Broker tips: Berendsen, Wood Group, Hunting, Schroders
Credit Suisse downgraded its stance on commercial laundry group Berendsen to 'underperform' from 'outperform' and slashed the price target to 700p from 1,200p as its 2017-19 earnings per share estimates fall 17% to 31%.
US existing home sales slump in February
Sales of US existing homes fell much more than expected in February, according to data from the National Association of Realtors.
AkzoNobel rejects second offer from PPG Industries
Dulux owner AkzoNobel has rejected a second unsolicited takeover bid from US chemicals manufacturer PPG Industries, saying it substantially undervalues the company.
Nike earnings sprint higher but shares hamstrung by cagey outlook
US sportswear behemoth Nike Inc limped into the start of Wednesday's session after disappointing investors with soft sales numbers and a cautious outlook statement.
Franchise Brands confirms potential acquisition
Franchise Brands confirmed on Wednesday that it is in advanced stages regarding a potential acquisition that would constitute a reverse takeover under AIM rules.
London midday: Stocks slide as Trump trade fades
Equity markets in London fell on Wednesday, with cyclical stocks on the back foot amid growing scepticism over whether US President Donald Trump will be able to deliver on his economic promises.
Eckoh wins largest contract to date
Global provider of secure payment products and customer contact solutions, Eckoh, announced on Wednesday that it won a new $3. 7m five-year contract to provide secure payment services to a large unnamed US telecommunications provider.
Strategic Minerals confirms start of Redmoor drill programme
Diversified mineral production and development company Strategic Minerals confirmed on Wednesday that Energold Drilling Corporation, the drilling company appointed by Cornwall Resources (CRL), informed CRL that it has commenced drilling at the Redmoor project in Cornwall.
ECSC reports jump in revenues as it ramps up sales team
ECSC reported a sharp jump in revenues for the latest 15-month stretch as it made preparations to significantly scale the business over the course of 2017 ahead of new legislation due to come into effect in 2018, sharply increasing the size of its sales team in the process.
Europe midday: Stocks under pressure on concerns about Trump policies
European equity markets were under pressure on Wednesday, following downbeat sessions in Asia and the US, with bank stocks the worst performers.