US retail giant Target posted quarterly earnings that fell well and truly short of analysts' expectations on Wednesday as the firm suffered heightened freight costs, bigger markdowns, and lower-than-expected sales of discretionary items.
Pub chain Young’s said on Wednesday that it has appointed Mark Loughborough to the newly-created role of retail director with effect from 30 September.
Another 28 Lloyds Banking Group branches are on the chopping block, it was revealed on Wednesday, with the UK’s second-largest union branding the move as “inexcusable”.
Wall Street futures had stocks opening lower ahead of the bell on Wednesday after the blue-chip Dow Jones registered its third-straight day of gains in the previous session.
London stocks were still little changed by midday on Wednesday after data showed that UK inflation hit a fresh 40-year high in April.
European shares struggled for direction at midday on Wednesday as record UK inflation hit sentiment.
The cost of living in the euro area was unchanged last month, contrary to a preliminary estimate.
Analysts at RBC Capital Markets upgraded medical products and technologies company Convatec from 'underperform' to 'sector perform' on Wednesday, stating further earnings downgrades appeared to be already priced in.
RBC Capital Markets upgraded Reckitt Benckiser on Wednesday to ‘outperform’ from ‘sector perform’ and lifted the price target to 7,000p from 5,900p.
Stocks in Asia were mostly higher by the end of trading on Wednesday, after fresh data out of Tokyo showed Japan’s economy shrank at a slower rate than anticipated in the first quarter of the year.
Average UK house prices increased by £24,000 in the twelve months ended 31 March, according to the Office for National Statistics, a slight slowdown when compared to the previous month.
Ninety One reported record earnings and assets under management in its final results on Wednesday, with the latter growing 10% year-on-year to £143. 9bn, while warning of worsening economic conditions going into the new financial year.
Online retailer N Brown said on Wednesday that full-year adjusted pre-tax profits had grown in the twelve months ended 26 February despite reporting a dip in annual revenues.
TBC Bank reported a “solid start” to the year on Wednesday, with first quarter net profit rising 46% year-on-year to GEL 224m (£61. 04m).
JPMorgan Cazenove upgraded WHSmith on Wednesday to ‘overweight’ from ‘neutral’ and hiked the price target to 1,900p from 1,760p, saying it sees both an inflection point for the business and consistent momentum in the recovery data.
Vehicle rental group Redde Northgate said on Wednesday that it had continued to trade well across and that its full-year performance was expected to be in line with upgraded expectations.
Pub group Mitchells & Butlers said on Wednesday that it swung to a first-half profit as sales continued to recover, but warned over cost headwinds.
London stocks were little changed in early trade on Wednesday after data showed that UK inflation hit a fresh 40-year high in April.
Credit-checking firm Experian reported a jump in full-year profit and revenue on Wednesday as it highlighted significant progress in consumer services.
Engineered ceramics company Vesuvius said on Wednesday that it had delivered a "stronger than expected" sales performance in the first four months of 2022.