Market Report
Europe close: Stocks drop amid concerns around the economic outlook
Stocks in Europe failed to track gains across the Atlantic and finished lower.
London close: Stocks finish weaker as Chancellor's plan fails to excite
London stocks finished in the red on Wednesday amid worries about a rise in coronavirus cases in the US and Australia, and as investors digested Chancellor Rishi Sunak’s £30bn plan to boost the UK economy.
Broker tips: Boohoo, WPP, Hill & Smith, Rio Tinto
Shore Capital downgraded Boohoo to 'sell' and said the company's share price did not reflect the risks created by allegations of mistreatment of workers in its supply chain.
Director dealings: Live Company chairman ups stake
Live Company Group revealed on Wednesday that chairman David Ciclitira had acquired 2. 05m ordinary shares in the AIM-listed children's entertainment and education brand.
PPHE rolls out safety programme as it reopens hotels
PPHE Hotel Group confirmed on Wednesday that it was welcoming guests back to its hotels, following the launch of its 20-step 'Reassuring Moments' programme, alongside the Radisson Hotel Group.
Solo Oil enters deal to sell Ausable Reef assets
Solo Oil updated the market on the disposal of its 28. 56% interest in the Ausable Reef gas assets in Ontario, Canada, to Levant Exploration and Production on Wednesday.
FTSE 100 movers: Persimmon boosted by upgrade; WPP hit by downgrade
London’s FTSE 100 was down 0. 3% at 6,174. 00 in afternoon trade on Wednesday.
FTSE 250 movers: FirstGroup tumbles on results; Micro Focus gains
London’s FTSE 250 was down 0. 6% at 17,240. 97 in afternoon trade on Wednesday.
US open: Positive start to trading following sharp sell-off in previous session
Wall Street trading got off to a positive start on Wednesday following the sharp sell-off seen during the prior session.
Peel Hunt says Vor Biopharma cash call validates Puretech Health's model
Analysts at Peel Hunt reiterated their 'Conviction Buy' recommendation for shares of PureTech Health following a $110. 0m funding round for its founded entity Vor Biopharma, arguing that the transaction validated its business model.
FC Barcelona is set to sue Nike after sale of defective football kits
Top-ranked Spanish football team, FC Barcelona, will reportedly seek compensation from retail giant Nike after discovering a defect with new football kits.
Berenberg hikes target price on Hill & Smith
Analysts at Berenberg hiked their target price on construction products supplier Hill & Smith from 1,325. 0p to 1,420. 0p on Wednesday, stating the group offered investors three "attractive characteristics".
Diaceutics builds on strong Q1, trades in line
Diagnostic commercialisation company Diaceutics said on Wednesday that it had built on its good start to the financial year, with trading in the first half in line with expectations.
RBC Capital upgrades Rio Tinto, highlights attractive dividend yield
RBC Capital Markets upgraded its stance on shares of miner Rio Tinto to ‘sector perform’ from ‘underperform’ on Wednesday, hiking the price target to 4,200p from 3,600p.
Dekel confirms shipment of first cashew milling equipment
West Africa-focussed agriculture company Dekel Agri-Vision said on Wednesday that the first shipment of milling equipment has left the manufacturer in Italy, Oltremare, enroute to its cashew processing project in Tiebissou, Côte d'Ivoire, via the port of Abidjan.
MaxCyte signs licensing deal with Apeiron Biologics
Cell-based therapies and life sciences company MaxCyte announced a clinical and commercial licensing agreement with immunotherapy biotechnology firm Apeiron Biologics on Wednesday, under which Apeiron would obtain non-exclusive clinical and commercial rights to use MaxCyte's ‘Flow Electroporation’ technology and ‘ExPERT’ platform.
Full underground team back at Scotgold's Cononish mine
Scotgold Resources announced on Wednesday that the full underground development team has now returned to work, and blasting activities are being conducted at the Cononish Gold and Silver Mine.
WPP slumps as Credit Suisse reinstates coverage at 'underperform'
WPP slumped on Wednesday after Credit Suisse reinstated coverage of shares in the advertising company at ‘underperform’ with a 565p price target, pointing to "rising industry disruption".
Europe midday: Stocks trim losses, pandemic in focus
Stocks in Europe have come off their earlier lows but are being weighed down by the ongoing headlines around the Covid-19 pandemic, especially in the US.
Gold hits 2011 highs above $1,800/oz.
Gold prices have broken fresh records, despite a recent rally in equities, amid ongoing concerns about the long-term economic impact of the Covid-19 pandemic and the prospect of rising inflation.