Market Report
Europe close: Stocks mostly higher led by miners, oil producers
Stocks in Europe finished mostly higher following the latest quarterly updates from US banking giants Goldman Sachs and JP Morgan.
'Green demand' to drive record tight copper balances, Goldman Sachs says
Strategists at Goldman Sachs reiterated their 'bullish' stance for a select group of global copper miners, predicting that so-called 'green demand' would drive the tightest balances ever over the next decade.
London close: Miners lead stocks slightly higher
London stocks finished in the green on Wednesday, although the gains were less than spectacular as investors continued to fret about the vaccine rollout in Europe, after the Johnson & Johnson jab was suspended due to blood clot concerns.
Broker tips: Gamesys, Restaurant Group, XP Power
Analysts at Canaccord Genuity lowered their rating on Gamesys from 'buy' to 'hold' on Wednesday following the formal announcement of its proposed combination with Bally's.
Renold sees continued recovery in order intake
Industrial chain and power transmission products supplier Renold said on Wednesday that the recovery in both order intake and revenues had continued, with trading for the year ended 31 March in line with the board's revised expectations.
Director dealings: Bunzl CFO makes share sale
Bunzl revealed on Wednesday that chief financial officer Richard Howes had disposed of 19,383 ordinary shares in the FTSE 100-listed distribution company.
FTSE 250 movers: QinetiQ surges; Airtel slumps on placing
London’s FTSE 250 was up 0. 3% at 22,340. 08 in afternoon trade on Wednesday.
Adept acquires Datrix in £9m transaction
Managed IT services provider AdEPT announced the acquisition of Datrix on Wednesday, for initial cash of £9. 0m, funded through its new bank facility.
Inland Homes makes progress at various projects
Brownfield developer Inland Homes updated the market on a number of its projects on Wednesday, reporting that at the Wessex site on West Cliff Road in Bournemouth, the sale of a new 105-bed hotel pre-let to Premier Inn for £0. 59m per annum had now been completed.
FTSE 100 movers: Glencore rallies on upgrade; Tesco down after results
London’s FTSE 100 was up 0. 7% at 6,936. 97 in afternoon trade on Wednesday.
US open: Stocks pick up early gains as Q1 earnings begin to roll in
Wall Street stocks were in the green early on Wednesday as market participants thumbed through some strong earnings from several of the nation's largest banks.
Wednesday broker round-up
Gamesys Group: Canaccord downgrades to hold with a target price of 1,878p.
United Oil reports 'material increase' in Abu Sennan reserves
United Oil & Gas updated the market on the Abu Sennan concession, onshore Egypt on Wednesday, reporting that an independent reserves and resources report, relevant to the end of 2020, indicated a “material increase” in reserves.
Europe midday: Stocks little changed following US bank earnings
Stocks across the Continent were trading in mixed fashion following the latest quarterly updates from US banking giants Goldman Sachs and JP Morgan.
JPMorgan Q1 profits rise amid 'improving economy'
JPMorgan Chase reported a jump in first-quarter profit on Wednesday, attributing the rise partly to an "improving economy" and the fact it was able to release billons of dollars from its loan-loss reserves.
Wells Fargo Q1 earnings top estimates
Financial services group Wells Fargo said on Wednesday that both revenues and net income had grown in the three months ended 31 March.
Banking due diligence passes for Kazera Namibian investment
Investment company Kazera Global said on Wednesday that the banking due diligence on the €9. 13m (£7. 93m) investment package for the Namibian investment had successfully completed.
Goldman Sachs posts huge jump in Q1 profits
Investment bank Goldman Sachs posted a huge jump in first-quarter profits on Wednesday, with the group taking advantage of record levels of dealmaking activity throughout the period.
Keller JV secures £95m HS2 contract
Keller said on Wednesday that its 50:50 joint venture with Bauer Technologies has been awarded a £95m contract to deliver geotechnical work as part of the C23 package on HS2 in the UK.
US pre-open: Futures mixed ahead of Q1 bank earnings
Wall Street futures were mixed ahead of the bell on Wednesday as market participants awaited the first wave of Q1 corporate earnings later in the day.