Market Report
US close: Modest gains on Wall Street as Fed stands pat on rates
Wall Street started the new month with modest gains on Wednesday, as the Federal Reserve stood pat on interest rates after a number of fresh economic readings earlier in the day.
Trump plumps for Jerome Powell as new Fed Chair - report
Federal Reserve governor Jerome Powell has been chosen by President Donald Trump as the US central bank's next chairman, according to reports on Wednesday.
Europe close: Dax buoyed by weak euro, car stocks race higher
Stocks on the Continent were mostly higher as German investors played catch-up after a bank holiday, helped by apparently solid readings on Chinese factory sector activity and the US jobs market together with a weaker euro.
Fed keeps policy steady, watching inflation closely
Rate-setters in the US decided unanimously to keep monetary policy at its current "accommodative" settings, while indicating that they continued to monitor price developments "closely".
London close: FTSE flat despite positive manufacturing, BoE rate hike eyed
London stocks closed marginally lower on Wednesday even as the pound fell despite better-than-expected manufacturing data, which underpinned expectations of a rate hike tomorrow by the Bank of England.
FX round-up: Greenback firms ahead of Fed decision, pound shaky despite positive data
The US dollar was 0. 17% stronger against a basket of currencies to 94. 712 on Wednesday, while sterling lost some ground against it's US counterpart.
US crude oil and product stockpiles drop, DoE says
US crude oil and product stockpiles were run down further during the latest reference week amid another drop in imports.
Thursday preview: BoE, Shell, BT, Yellen successor
Thursday is widely expected to see the first interest rate hike by the Bank of England for over a decade, while updates are due from Shell, BT and Morrisons and Donald Trump will reveal his tax bill and Fed Chair Janet Yellen's successor.
Results round-up
Next continued to face declines in full price sales from its shops and week-to-week volatility in the third quarter but thanks to strong online and catalogue growth the clothing retailer stalked on towards its full year targets.
Gordon Dadds completes £4m acquisition of CW Energy
London-based legal and professional services business Gordon Dadds Group has completed the acquisition of the corporate tax advisory business and certain assets of CW Energy for a total initial consideration of £4m, payable in cash over a five-year period, it announced on Wednesday.
US open: Buying momentum spills over into November
Wall Street has begun the new month with fresh gains ahead of the US central bank's policy announcement later in the day and various readings on the economy that some analysts said pointed to GDP growth in the vicinity of 3% in the final stretch of 2017.
SysGroup buys WatchGuard 'platinum partner' Rockford IT
Managed IT services and cloud hosting provider SysGroup has acquired 100% of the issued share capital of Rockford IT, a specialist provider of managed IT, hosting and security services, it announced on Wednesday.
FTSE 250 movers: Indivior surges on FDA drug recommendation; Royal Mail weak again
London's FTSE 250 was up 0. 9% to 20,403. 87 in afternoon trade on Wednesday, with Indivior leading the charge.
FTSE 100 movers: Paddy Power gains on results but Next takes a tumble
London's FTSE 100 was up 0. 1% to 7,502. 81 in afternoon trade on Wednesday as investors digested a better-than-expected reading on UK manufacturing and looked to the Bank of England's rate announcement.
Plus500 extends Aussie rugby sponsorship deal for three years
Online contracts-for-difference trading service provider Plus500 announced on Wednesday that it has extended its sponsorship agreement with the Brumbies to be its official sponsor for the next three years.
Proxama sells payments division, proposes name change
Mobile location and data intelligence specialist Proxama announced the sale of its digital payments division to private Danish company LHH2 APS on Wednesday, for an initial cash consideration of £1m plus potential deferred consideration of up to £1m over the next 18 months, subject to certain performance conditions.
Aston Martin invests in the US as Brexit looms
Aston Martin is increasing investment in the US as it makes contingency plans for Britain leaving the EU.
US construction sector spending holds up in September
Construction sector spending rose past forecasts in September, buoyed by stronger outlays by the public sector.
ISM manufacturing index eases back from September's 13-year high
Growth in the US economy's manufacturing sector eased back a little more than expected in October, according to data from the US Institute for Supply Management.
US factory sector activity accelerates to fastest pace in 2017, IHS Markit says
Factory sector activity in the States picked-up to reach its fastest clip since the beginning of 2016, amid brisk growth in new export orders, stronger job growth and increased price pressures, the results of a widely-followed survey revealed.