Market Report
London midday: Energy shares pace the advance as oil rallies
London stocks had extended gains by midday on Wednesday, with energy shares pacing the advance as Brent crude hit its best levels since 2014 on the back of US President Trump's decision to pull out of the Iran nuclear deal, with a raft of corporate news also keeping investors busy.
Echo Energy kicks off four well campaign in Argentina
Upstream oil and gas firm Echo Energy announced on Wednesday that it has begun drilling the first exploration well of a back-to-back four well drilling campaign in Argentina.
Caspian restarts Kazakhstan operations after cold weather
Central Asian oil and gas company Caspian Sunrise has made further progress with its deep and shallow wells on the BNG contract area in Kazakhstan after a prolonged period of exceptionally cold weather.
MPs get vote on single market after government's Lords defeat
The British government suffered four more Brexit defeats from the upper house of parliament overnight, including a voted against leaving the European Union’s single market after the divorce date.
MPs announce inquiry into water industry regulation
MPs have launched an inquiry into regulation of the water industry, potentially adding to political pressure on the sector.
Tui on course for full year as cruise boom continues
Anglo-German tour operator Tui cruised to a narrower first-half loss as demand for ocean holidays booms and European trends move away from Spain towards Greece, Turkey and North Africa.
US pre-open: Stocks seen up as oil prices rally after US withdraws from Iran pact
US futures pointed to firmer open on Wall Street on Wednesday, with energy shares set to gain as President Trump's decision to withdraw from the Iran nuclear deal boosted oil prices.
Vertu Motors FY profit drops amid tougher trading environment
Automotive retailer Vertu Motors posted a drop in full-year pre-tax profit on Wednesday amid a tougher trading environment.
Voters favour Labour economic policies, FT poll finds
Voters support Labour party economic policies including higher taxes for top earners and nationalising key industries, a survey for the Financial Times has found.
Hill & Smith acquires WAPCO in $42m deal
Infrastructure products and galvanising services provider Hill & Smith Holdings has completed the acquisition of the business and assets of Work Area Protection Corporation and its associated affiliates for a total cash consideration of $42. 0m, on a debt free, cash free basis, it announced on Wednesday.
Renishaw upgrades full-year forecasts after strong nine months
Renishaw upgraded its forecasts for annual results after the engineering group reported a 39% increase in profit for the first nine months of 2018.
Renew Holdings to buy Scottish rail contractor QTS, placing announced
Engineering services group Renew Holdings has announced plans to buy Scottish rail contractor QTS for £80m in cash, a deal it will part-fund through a placing.
Burberry tanks as Belgian billionaire Albert Frere sells entire stake
Luxury fashion brand Burberry was under the cosh on Wednesday after Groupe Bruxelles Lambert, the holding company of Belgian billionaire Albert Frere, sold its entire 6. 6% stake in the group.
Imperial Brands shares 'too cheap' for RBC Capital
First-half results from tobacco giant Imperial Brands impressed RBC Capital Markets, which saw management "doing the right thing" and the shares "too cheap".
Imperial Brands confident despite slow burn in first half
First-half profits for Imperial Brands fell 7% as tobacco sales fell, sterling swung back and UK distributor Palmer & Harvey called in the administrators, but earnings beat average City forecast and there was optimism about developments in e-cigarettes and heat-not-burn tobacco.
Grafton hit by bad weather after positive start to year
Adverse weather in March and early April hit trading at builders' merchant Grafton Group following a positive start to the year in January and February.
Marshalls revenue rises 10% despite bad weather
Marshalls said freezing conditions affected sales severely but the paving specialist’s revenue still rose 10% in the first four months of 2018.
N4 Pharma quick to file premature ejaculation patent
Specialist pharmaceutical company N4 Pharma made a patent application for its premature ejaculation treatment, an oral reformulation of an anti-depressant drug duloxetine that will be marketed as Cymbalta.
St Modwen sells off more than a quarter of retail property portfolio
Property regeneration specialist St Modwen Properties disposed of two of its retail assets in separate transactions on Wednesday at a combined discount to book value, trimming its retail portfolio by 27% as a result.
Provident Financial reports positive start to 2018
Provident Financial said it made a positive start to 2018 as the subprime lender seeks to emerge from a disastrous period that threatened its survival.