Rolls-Royce cuts top executives
London's top flight index is seen starting 19 points higher than Tuesday’s close at 6,036.
Stocks to watch
Rolls-Royce is splitting out its divisions and reshuffling its senior management team, in what it said is the first step in a “wide-ranging” restructuring programme.
The FTSE 100 company said the current top-level Aerospace and Land & Sea divisional structure will end, leaving the company five key divisions reporting directly to new chief executive Warren East.
The changes take effect from January 1.
The positive impact of acquisitions is expected to boost full year group revenues at distribution group Bunzl by 5% at constant currency rates, the company said on Wednesday.
The company added it was buying three more businesses in France, Chile and Spain.
FTSE 100-listed electronics and travel retailer Dixons Carphone saw like-for-like revenue rise 5% in its first half report, to £4.39bn at 31 October.
Its pro-forma headline profit before tax was also up, 23% to £121m, with statutory profit before tax £78m from its continuing operations.
In the report, Dixons Carphone said it had improved its market share across the UK and Ireland, Nordics, Greece and Spain markets.
In the press
Tight restrictions on US crude oil exports, in place for 40 years, would be lifted as part of a budget deal agreed in Congress on Tuesday evening, news agencies reported. The deal presented to Republicans in a late-night meeting by House Speaker Paul Ryan would also raise spending on defence and a number of domestic programmes. It would also avoid a government shutdown that had been looming as soon as Wednesday. – Financial Times
Halliburton, the US oil services group, has been forced to delay for a second time its planned $26bn acquisition of rival Baker Hughes, after failing to reach an agreement with US competition regulators. The US Department of Justice has told the two companies that the disposals they have offered to mitigate the deal’s effect on competition are inadequate, but has not yet launched a legal action to block the takeover. – Financial Times
Christmas shoppers are set to benefit from the deepest high street discounts since 2008 after mild weather and a disappointing Black Friday left shops with stock to clear. With fewer than 10 days to Christmas, discounts are averaging 41.8%, according to analysts at consultants Deloitte, and will rise to 45% by the weekend. – Guardian
US close
US stocks finished higher on Tuesday after data showed an improvement in inflation ahead of the Federal Reserve's interest rate decision.
US inflation rose 0.5% in November from a year ago, matching analysts' estimates and marking an improvement from the previous month's 0.2% increase, according to the Bureau of Labor Statistics.
However, CPI fell to 0% in November on a month-on-month comparison, after a 0.2% rise in October, meeting forecasts.