Market Report
Wednesday newspaper round-up: Airlines, probate, Elon Musk
At least 100,000 “ghost flights” could be flown across Europe this winter because of EU airport slot usage rules, according to analysis by Greenpeace. The deserted, unnecessary or unprofitable flights are intended to allow airlines to keep their takeoff and landing runway rights in major airports, but they could also generate up to 2. 1 million tons of greenhouse gas emissions – or as much as 1. 4 million average petrol or diesel cars emit in a year – Greenpeace says.
Fed keeps policy unchanged, Powell says risks two-sided and avoids specifics
The US central bank didn't spring any immediate surprises on investors following its two-day policy meeting.
Thursday preview: US Q4 GDP, CBI Distributive Trades survey
The market spotlight on Thursday will be on a preliminary reading for US gross domestic product growth over the last three months of 2021.
Washington offers Moscow 'serious diplomatic path forward' but says will defend 'core principles'
Washington responded to Moscow's demands for written security guarantees and said that it was offering Russia a "serious diplomatic path forward, should Russia choose it".
US close: Stocks give up gains as Fed signals March hike
Wall Street stocks had given up their gains by the end of trading on Wednesday, as investors digested a Fed that was “of a mind” to raise interest rates as soon as March.
Europe close: Stocks extend gains, travel issues lead
European shares extended their gains, as the rally from Monday's sell-off continued on Wednesday, as investors waited on news from the US Federal Reserve's two-day meeting later in the day.
London close: Energy, travel plays see FTSE finish firmer
London stocks finished comfortably above the waterline on Wednesday, boosted by a strong performance from the travel sector, as investors held their breath ahead of the latest policy announcement from the US Federal Reserve.
Ocado unveils its new Smart Platform
Ocado's shares found a bid after the online grocer unveiled its new logistics platform.
Concurrent launches new location product for 'electronic warfare'
Embedded computer board designer and manufacturer Concurrent Technologies announced a new ‘plug-in-card’ (PIC) product on Wednesday.
Power Metal confirms start of diamond drilling at Haneti
Exploration company Power Metal Resources updated the market on its inaugural diamond drilling programme on the nickel-copper-cobalt-platinum group element Haneti Project in central Tanzania on Wednesday.
Ixico extends commitment to Dementias Platform UK
Data analytics company Ixico has extended its commitment to Dementias Platform UK (DPUK), it announced on Wednesday, as it entered its second phase.
Broker tips: abrdn, easyJet, Intertek, Good Energy
Berenberg downgraded abrdn on Wednesday to 'hold' from 'buy' and cut its price target on the stock to 260. 0p from 285. 0p, stating the shares had disappointed in recent years, underperforming the UK index by 50% since December 2017 and 27% since December 2020.
Restore ends strong year ahead of previous expectations
Information and document management company Restore said in a trading update on Wednesday that it generated strong trading momentum across the group through the final quarter, delivering 2021 performance ahead of its previous expectations.
Uniphar ends year with lower-than-expected debt levels
Healthcare services company Uniphar said in a trading update on Wednesday that it performed in line with its own expectations for 2021, at both a gross profit and EBITDA level, with strong reported free cash flow conversion resulting in lower-than-projected net debt.
Warehouse REIT reports good momentum since October
Warehouse REIT said in a trading update on Wednesday that, since 1 October, it had completed 12 new lettings and 10 lease renewals across 141,400 square feet of space.
Renew trading in line in first quarter
Engineering services company Renew said in an update on Wednesday that trading in its first quarter was in line with the expectations of its board.
US open: Stocks higher ahead of Fed decision
Wall Street stocks were in the green early on Wednesday as investors looked ahead to the outcome of the Federal Reserve's two-day policy meeting.
Boeing cash flow positive in Q4, misses on revenue and earnings
Boeing announced positive cash flow for the first time since 2019 in its fourth quarter results on Wednesday, but still missed market expectations on revenue and losses per share.
FTSE 250 movers: Travel shares gain; Playtech loses ground
London’s FTSE 250 was up 1. 6% at 21,980. 48 in afternoon trade on Wednesday.
FTSE 100 movers: IAG flies higher; Fresnillo loses its shine
London’s FTSE 100 was up 1. 9% at 7,511. 55 in afternoon trade on Wednesday.