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Market Report
17 May
Centrica, offshore wind farm
Morgan Stanley downgrades Centrica as headwinds build

With Centrica shares trading at the same level as they had been before it profit warning back in November, Morgan Stanley reassessed its stance as the British Gas owner continued to lose customers across its UK and US businesses, and faces further headwinds.

16 May
ep coliseoroma
Europe close: All eyes on Rome as Italian assets get hammered

Stocks on the Continent were mostly higher on Wednesday, but on the periphery shares were bathed in red as markets moved to factor-in the prospect of a potentially highly disruptive governing coalition gaining power in Italy.

16 May
London Stock Exchange AIM LSE shares
Director dealings: Allied Minds director lowers stake

Michael Turner, general counsel and company secretary of innovation company Allied Minds, disposed of 112,491 ordinary shares in the firm at 118. 54p on Wednesday.

16 May
russia mining albazino polymetal
Beowulf Mining to enhance operations with £1.5m from placing

Beowulf Mining announced on Wednesday that it will seek to raise £1. 5m for its graphite exploration efforts through the placement of 30m new shares at five pence per share.

16 May
London close: Stocks take geopolitical risks in stride

Stocks edged higher in London on Wednesday as investors weighed up solid updates from the likes of Burberry and Micro Focus and deal news for Paddy Power against geopolitical concerns.

16 May
centrica 3
Broker tips: Centrica, Evraz

With Centrica shares trading at the same level as they had been before it profit warning back in November, Morgan Stanley reassessed its stance as the British Gas owner continued to lose customers across its UK and US businesses, and faces further headwinds.

16 May
Netflix original film releases in 2018 to outstrip four major studios combined

Netflix is upping its game and is preparing to release at least 86 original films in 2018, management said on Wednesday.

16 May
aldiana thomas cook
Thursday preview: Packed diary includes British Land, National Grid, Thomas Cook

Thursday is expected to be the second busiest day on the European corporate calendar this month, with results and updates from the likes of 3i Group, British Land, Countryside, Experian, Grainger, Investec, Just Group, National Grid, Mothercare, Royal Mail, Sophos and Thomas Cook.

16 May
drilling oil onshore
US oil inventories slip as exports jump, DoE says

Inventories of crude oil and its derivative products in the States were lower across the board last week amid rising exports.

16 May
ep yacimientohailcepsacosmo oilabu dhabi
Eland Oil & Gas 'very encouraged' as well expected to top guidance

Natural resource production and development firm Eland Oil & Gas announced on Wednesday that its Opuama-9 well, at the OML 40 asset in Nigeria, is expected to perform at the high-end of prior guidance.

16 May
Market buzz: New calls for Big Four break-up, Grayling to confirm East Coast rail deal

1600: Shares of Smurfit Kappa are down after US rival International Paper says it will not go "hostile" in its attempts to take over the company.

16 May
cash money sterling pay deal offer acquisition m&a
Malvern International to buy Communicate English School for £2.3m

Learning and skills development partner Malvern International has announced plans to buy Manchester-based Communicate English School for £2. 34m, in a deal that will broaden its UK footprint.

16 May
wall street
US open: Positive open on the Street as bond yields remain in focus

Wall Street trading started on a positive note on Wednesday even as investors keep an eye on bond yields and geopolitical concerns weigh on sentiment.

16 May
smurfit kappa corrugated packaging
Smurfit slumps as International Paper says it won't make hostile bid

Shares in Smurfit Kappa slumped on Wednesday as US rival International Paper said it would not be making a hostile bid for the paper and packaging company.

16 May
east coast
Stagecoach-Virgin East Coast franchise to be renationalised

One of the two high-speed rail routes between London and Scotland will be renationalised for the second time in less than a decade, after franchise holder Virgin Trains East Coast said it could no longer make payments on its £3. 3bn contract with the government.

16 May
mining polymetal
Asiamet's BKZ delivers maiden resource estimate

Copper and gold exploration and development firm Asiamet Resources has reacted positively to an initial resource estimate for the BKZ polymetallic deposit in at the KSK project in Kalimantan, Indonesia.

16 May
burberry 16 fashion couture
FTSE 100 movers: Micro Focus and Burberry rally; Centrica hit by downgrade

London's FTSE 100 was up 0. 2% to 7,734. 49 in afternoon trade on Wednesday as investors digested some solid updates from Burberry and Micro Focus and deal news for Paddy Power.

16 May
burberry cap fashion
Burberry profits and cashflow outstrip forecasts

Burberry presented a smart first set of full year results under new chief executive Marco Gobbetti, pinning on a £150m buyback buttonhole as well as outstripping City forecasts despite a slight wrinkle in revenues.

16 May
london sunrise snow
FTSE 250 movers: Homeserve upgrade warms investors; Crest Nicholson disappoints

Homeserve led the FTSE 250 risers on Wednesday and helped lift the index into positive territory. The stock was boosted after UBS issued an upgrade to 'buy' from 'neutral'.

16 May
US industrial production falls short of forecasts in March

US industrial production fell short of forecasts last month despite a sharp jump in the output of business equipment.