Market Report
Serica slumps after US withdraws from Iran deal
Serica Energy worked to reassure investors on its Iran operations on Wednesday, following US President Donald Trump’s decision to pull the US out of the nuclear agreement with the country, made late on Tuesday.
House prices dip in April, RICS survey shows
House prices dipped in April as sentiment in the London market dropped to a low not seen since the UK was in recession, the monthly RICS survey showed.
Europe close: Stocks edge higher, buoyed by oil sector
Stocks finished on a slightly higher note, with Big Oil buoyed by the sharp run-up in crude oil futures after the US administration announced its decision overnight to walk out of the Iran nuclear accord.
Results round-up
Automotive retailer Vertu Motors posted a drop in full-year pre-tax profit on Wednesday amid a tougher trading environment.
Fox acquires seven new stations from Sinclair Broadcasting Group for $910m
21st Century Fox bought seven television stations from Sinclair Broadcasting Group and Tribune Media for $910m on Wednesday, extend the reach of Fox Television Stations to nearly half of US households and 19 of the top 201 DMA’s.
London close: Oil market rally pushes FTSE 100 towards record high
London's top-flight index pushed closer to its record highs after US President Donald Trump's decided to pull out of the Iran nuclear deal, which served to propel crude oil futures to their loftiest level since 2014.
Sector movers: Oil producers and services lifted as crude rebounds
Oil-related sectors were lifted on Wednesday as crude oil prices climbed back up to three-and-a-half-year highs after Donald Trump confirmed that the US will be withdrawing from the Iran nuclear deal and sanctions will be restored.
Market buzz: FTSE breaches 7600, Greggs and Burberry dumped
1550: Front month Brent crude oil futures are rising 2. 729% to $76. 95 a barrel on the NYMEX, helped by the latest US DoE data showing a 2. 2m barrel drop in oil inventories for over the latest week. Domestic US oil ouput was higher again last week, according to the DoE, rising by 84,000 barrels a day to 10. 703m b/d.
Sears launches tyre partnership with Amazon
Shares in US department stores chain Sears jumped as much as 17% in early trading after the retailer revealed it had reached a partnership with e-commerce giant Amazon that will allow customers the option to have their tyres shipped to one of its stores.
FTSE 100 movers: Imperial Brands lights up blue chips, soggy bottom for Compass
The FTSE 100 was lit up by Imperial Brands and oil majors BP and Shell on Wednesday, with Burberry and Compass the big fallers.
Office Depot raises guidance despite tumbling profits
US retailer Office Depot beat market expectations with its first-quarter results, despite witnessing a 64% drop in profits due to narrower margins, as the company raised its outlook for the rest of the year.
Compass serves up softer first-half numbers due to mixed Europe
Contract caterer Compass Group’s North American business made up for falling profit in Europe, though sales and profits fell short of average analyst forecasts.
Broker tips: Sainsbury's, Pearson, Imperial Brands, Vertu Motors
Synergies from Sainsbury’s agreed purchase of Asda from Walmart could be as high as £1. 5bn, Berenberg analysts said as they raised their price target for the FTSE 100 grocer.
Weekly US oil and product stockpiles drop sharply
US commercial oil and product stockpiles shrank sharply last week, amid a big drop in imports.
US open: Stocks on the rise after oil price boosted by Iran withdrawal
Wall Street trading opened on a positive note on Wednesday, as energy shares were given a boost by Donald Trump's decision to withdraw from the Iran nuclear deal.
FTSE 250 movers: Renishaw surges; Greggs goes stale after profit warning
London's FTSE 250 was up 0. 3% to 20,661. 65 in afternoon trade on Wednesday, with energy-related shares among the top gainers as oil prices gushed higher.
Director dealings: Smith and Nephew's new CEO makes £2.95m share purchase
Namal Nawana, newly-appointed chief executive officer of medical equipment manufacturer Smith and Nephew, acquired 224,214 ordinary shares in the FTSE 100 firm on Wednesday as part of its global share plan.
Vipera narrows losses as it receives cash offer
Specialist mobile financial software services provider Vipera announced its preliminary audited financial results for the year ended 31 December on Wednesday, reporting a 27% rise in total revenue to €10. 1m year-on-year.
TyraTech well on track after operationally successful first quarter
Life sciences company TyraTech updated the market on recent progress with its animal health products, following the successful sale of ‘Vamousse’ as announced on 4 December.
Mylan ups revenue guidance after first-quarter miss
American speciality pharmaceuticals company Mylan reported a fall in revenue for first-quarter on Wednesday but upped its full year guidance.