Latest News
Wednesday newspaper round-up: Retailers, Tata, Reckitt, BP
Many leading UK retailers have websites that require “serious attention” to make them safe against cyber attacks, according to new research that reveals how well stores are dealing with the rising threat from hackers and online criminals. Matalan faced particular criticism over its site’s ability to counter cyber attacks, while others including Waitrose, Tesco, Debenhams and Topshop also ranked poorly compared to other British retail companies. – Financial Times .
Rurelec extends bridging loan as Argentina adds to cash crunch
Rurelec has increased its short-term loan to provide more access to working cash for the power plant developer and its operations in Chile and Peru, after short-term cash generated by its Argentinian joint venture came in lower than expected.
US close: Dow hits five-month high on Beige Book wage news
The Dow Jones jumped to its highest close since early November, fuelled by oil remaining above $40 and improved wages news from the Federal Reserve's Beige Book.
Sector movers: Basic resource, bank stocks surge
A surge in basic resources and bank shares gave equity benchmarks around the world a leg up on Wednesday, following data out of the People’s Republic of China which showed exports rising at their fastest pace in over a year.
FX round-up: US dollar stronger across the board
Improved risk appetite was evident in the foreign exchange markets, with dollar/yen staging a significant bounce, rising by 0. 71% to 109. 32.
Bonds: Gilts rise after auction of long-term debt, Greece lags
These were the movements in some of the most widely followed longer-term sovereign bond yields:.
Commodities: Oil futures slide on Saudi comments, US inventory data
Oil futures stayed above the $40 per barrel mark on Wednesday, but the rally in play from the start of the week fizzled out on dire US crude inventory data and Saudi Arabia ruling out an output cut.
Gulf Intelligence: Oil Outlook - Top five drivers impacting crude prices in 2016
By Sean Evers, founder and managing partner of Gulf Intelligence.
Small caps news round-up
Keywords Studios expanded once again through an acquisition on Wednesday, swallowing upSynthesis for a maximum consideration of €18m. The AIM-traded international technical services provider to the videogames industry said Synthesis Group posted pro forma revenues of €16. 9m and profit before tax of €2m for the year to 31 December.
London close: Stocks bolstered by upbeat Chinese data
The FTSE 100 closed at its highest level so far this year on Wednesday after positive Chinese data eased worries about the slowdown in the world’s second largest economy.
Europe close: Basic resources lead markets higher
European stocks finished Wednesday healthily in the black, with basic resources among the leaders as investors were buoyed by stronger Chinese trade data.
Keywords Studios swallows up Synthesis
Keywords Studios expanded once again through an acquisition on Wednesday, swallowing up Synthesis for a maximum consideration of €18m.
Financial chief change at Volga Gas
Volga Gas announced a management and directorate change on Wednesday, with the departure of Tony Alves as chief financial officer.
More positive results from Galileo's Concordia concession
Galileo Resources talked up its Concordia concession in South Africa’s Northern Cape on Wednesday, having received results from independent ore-body modelling on the area’s West Whyte’s prospect.
Results round-up
Tesco broke back into the black with a £162m pre-tax profit that marked a turnaround from the previous year's record £6. 3bn loss, also delivering the first annual volume growth in five years.
BBA Aviation non-exec director makes first share purchase
Peter Ventress, a non-executive director at BBA Aviation, made his first share purchase, picking up 25,763 shares at 193. 06p each.
US open: Stocks gain after upbeat Chinese data
US stocks gained on Thursday after upbeat data on Chinese exports soothed fears about the nation’s economic slowdown.
UK Culture Secretary urged to step back from media regulation after escort affair
UK Culture Secretary John Whittingdale was on Wednesday under pressure to recuse himself from press regulation after he was revealed to have had an affair with an escort.
Liberum initiates coverage of M&S, Dixons Carphone and Poundland
Liberum initiated coverage of seven consumer discretionary stocks on Wednesday, including Marks & Spencer, Dixons Carphone and Poundland.
PPHE Hotels buys remainder of Arenaturist joint venture
Accommodation investor and developer PPHE Hotel Group confirmed it had completed the acquisition of its Arenaturist joint venture in Croatia.