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US Federal Reserve stays put on rates, but monitoring inflation closely
Rate setters in the US chose to keep interest rates unchanged, referencing continuing risks from global economic and financial developments albeit with a small caveat, they would be closely monitoring inflation developments.
Sector movers: Financials, oil pace advance
The 2016 Budget left analysts divided about whether the Chancellor would be able to meet his targets for reducing the public deficit in this parliament, but for diversified financials St. James’s Place and Hargreaves Lansdown the new measures he unveiled were a clear positive, according to analysts.
Commodities: Gold, crude oil futures gain in wake of Fed meeting
News that a meeting between several of the world's major oil producers to decide upon a freeze in output would indeed go forward stoked buying interest in crude oil futures.
US close: Stocks hit high as Fed eyes only two hikes in 2016
US stock indices closed at their highest level this year after the Federal Reserve held back from any change to interest rates and oil prices bounced back.
FX round-up: Cable slips ahead of Fed
Cable was dragged lower by US dollar strength ahead of the Fed's rate-setting meeting later in the day and in the wake of a stronger-than-expected reading on consumer prices Stateside.
Europe close: Stocks edge lower ahead of Fed meeting
European stocks wavered on Wednesday as caution set in ahead of the Federal Reserve’s latest policy announcement.
Bonds: Spain contains rise in debt-to-GDP ratio
Sovereign bond yields backed up across the board on Tuesday, with Gilts as the main exception, ahead of the US central bank's policy meeting and despite weaker than expected figures on retail sales in the States which led several top investment banks to trim their projections for economic growth in the first quarter.
Small caps news round-up
Ariana Resources revealed positive drilling results from its Kepez West Project on Wednesday, following its recent drill programme in Turkey. Kepez West is located within the Red Rabbit joint venture, 12 kilometres trucking distance from the under-development processing plant at Kiziltepe. The AIM-traded firm said the results confirmed the presence of a significant near-surface mineralised system.
Ariana reports good results at Turkey gold project
Ariana Resources revealed positive drilling results from its Kepez West Project on Wednesday, following its recent drill programme in Turkey.
London close: Stocks rally after Osborne unveils UK Budget 2016
The FTSE 100 closed higher on Wednesday as traders examined the UK Budget 2016 and UK jobs data.
UK Budget: Osborne stakes leadership hopes on surplus despite missing targets
British Finance Minister George Osborne on Wednesday staked his political future on his belief he could deliver a budget surplus by 2020 while admitting he had again missed his debt cutting forecasts and economic growth would be slower than predicted.
CloudTag down after fundraise announcement
CloudTag raised a further £228,000 this week, through the issue of 7. 6 million new ordinary shares, it announced on Wednesday.
Director dealings: Dairy Farm boss adds to stake
Graham Allan, chief executive of pan-Asian retailer Dairy Farm International, has popped into the market to buy a few more shares, after buying a chunk last week.
Britain set to have a surplus of £10.4bn in 2019-20, Osborne says in Budget
Britain is on course to achieve a surplus of £10. 4bn by 2019-20, Chancellor George Osborne said on Wednesday as he delivered the UK Budget 2016.
Suspended Phorm raises fresh capital through note issue
Advertising technology company Phorm had £350,000 more cash in its pocket on Wednesday, after issuing convertible loan notes in the amount to existing shareholder Michael Bigger.
Results round-up
Drug group Hikma Pharmaceuticals reported revenue of $1. 44bn (£1. 02bn) in its final results for 2015 on Wednesday, down 3% on what was an exceptionally strong 2014.
Thursday preview: BoE expected to keep interest rates unchanged
The Bank of England is expected to stand pat on interest rates when it announces its latest policy measures on Thursday.
Wednesday broker round-up
Hikma Pharmaceuticals: Panmure Gordon upgrades to buy with a target price of 2120p.
Metal Tiger up as it exercises Russia project option
Metal Tiger exercised its option to participate in the Semenovsky Tailings Project in Russia this week, it announced, in partnership with Eurasia Mining.
Broker tips: Sainsbury's, Thomas Cook, WANdisco
Nomura has cut its price target on Sainsbury's ahead of Friday's bid deadline for Argos owner Home Retail, after an uneventful trading update.