Market Report
Deutsche Bank downgrades Direct Line as claims inflation rises
Deutsche Bank downgraded its stance on Direct Line to 'hold' from 'buy' on Wednesday and cut the price target to 370p from 390p as it reduced its earnings estimates on the back of higher-than-expected claims inflation, resulting in greater compression in margins.
Cambridge Cognition wins 'significant' new clinical trial contract
Neuroscience technology company Cambridge Cognition Holdings has won a “significant” new clinical trial contract, it announced on Wednesday, which it said was the largest in a series of recently-signed electronic clinical outcomes assessment (eCOA) trials.
Asia report: Negativity abounds as oil stocks fall across region
Markets in Asia mostly finished in negative territory on Wednesday, with sentiment affected by a further fall in oil prices.
Regency Mines inks new agreement with Mambare partner
Natural resources development outfit Regency Mines has proposed a new work plan at its Mambare joint-venture in Papua New Guinea following the signing of a fresh agreement with its partner on the project.
S4 Capital unveils 'very strong' quarter following MediaMonks merger
WPP founder Martin Sorrell's digital advertising and marketing outfit S4 Capital turned in a "very strong" third quarter on Wednesday, with revenues and gross profits showing a significant year-on-year improvement.
Touchstone Exploration swings to profit after production jumps
Touchstone Exploration reported on Wednesday that it swung to a profit in the third quarter as the Trinidadfocused oil and gas company benefitted from increased production and rising oil prices.
Liberum downgrades Rio Tinto as steel and iron ore prices falter
Iron ore indicators are looking "shaky" and steel prices are faltering, said Liberum, as it downgraded Rio Tinto to 'sell' from 'hold' and cut the price target to 3,350p from 3,600p.
Europe midday: Stocks dip on Italian impasse
Stocks on the Continent are trading slightly lower on Wednesday after the Italian government stuck to its deficit targets for next year, despite opposition from the European Commission, and following the release of a mixed set of data on China's economy overnight.
Pearson sells off FT headquarters
Pearson has agreed to sell the Financial Times' headquarters on the banks of the Thames to investor M&G for £115m.
Flybe puts itself up for sale as H1 profits slump
Budget airline Flybe said on Wednesday that it's putting itself up for sale as it posted a slump in first-half profits.
US pre-open: Stocks seen lower ahead of inflation data
US stocks looked set for a slightly weaker open on Wednesday as investors eyed the latest reading on inflation and earnings from the likes of Macy's and Cisco.
African Battery upbeat on Cameroon, disappointed in the Congo
Exploration company African Battery Metals updated the market on its exploration activities in Cameroon and the Democratic Republic of the Congo on Wednesday, reporting that it had now started exploration work on the licences in Cameroon, which were acquired as part of the purchase of Cobalt Blue Holdings.
WeWork value jumps to $42bn as SoftBank provides more backing
New York-based office sharing outfit WeWork was valued at a mammoth $42bn as it agreed another major investment from Japanese conglomerate SoftBank.
Seeing Machines updates investors following 'exciting and pivotal' year
Seeing Machines provided investors with details from its "exciting and pivotal" year at its annual general meeting on Wednesday.
London midday: FTSE turns higher as pound drops ahead of May's cabinet meeting
London stocks had turned a touch higher by midday on Wednesday, boosted by a weaker pound as investors waited to see whether Theresa May can secure Cabinet backing for the draft Brexit deal she has agreed with the EU.
Science in Sport looks to bulk-up with protein acquisition
British sports nutrition company Science in Sport intends to raise £29m via a placing of new shares in order to double in size via the proposed acquisition of PhD Nutrition.
Snap faces probe from DoJ and SEC over IPO disclosures
US government agencies have launched an investigation into complaints that Snap attempted to cover up the potential threat to growth prospects of its Snapchat platform ahead of its initial public offering last year.
Wilmington enters new Singapore insurance tech joint venture
Information, education and networking services provider Wilmington announced on Wednesday that Axco, its insurance information subsidiary, has entered into a 50-50 joint venture agreement with The Digital Insurer in Singapore.
Intervest announces massive capital increase to reach 2018 investment goals
Intervest Offices & Warehouses announced a capital increase on Wednesday, in a bid to continue its growth strategy both in the office portfolio and in logistics real estate, while maintaining the debt ratio between 45% and 50%.
Overseas markets lead growth at JPJ Group
Online bingo-led gaming operator JPJ Group issued its third quarter results on Wednesday, reporting an 8% improvement in gaming revenue to £77. 8m and a swing to IFRS net income from continuing operations of £7. 4m, from a loss of £8. 2m last year.