Latest News
Commodities: US oil production to fall sharply in 2017, DoE says
The commodities complex was awash in green on Wednesday as energy futures moved into positive territory late in the afternoon on the back of the latest weekly US oil inventory data and gloomy projections from the Department of Energy.
US close: Stocks end higher as oil prices rally
US stocks ended higher on Wednesday as oil prices rebounded from earlier lows.
FX round-up: US dollar higher against majors
The greenback strengthened against the majors on Wednesday, ahead of the European Central Bank’s policy meeting the next day, even while slipping against most commodity currencies.
Director dealings: Hikma gets shot in the arm as chief tops up
Hikma Pharmaceuticals's chief Said Darwazah boosted his stake in the generic drugs firm on Wednesday to 5. 49% through the acquisition of 30,000 shares at an individual price of 2,271p.
Goldplat reports continued profitability in quarterly update
AIM-listed African gold producer Goldplat said output was 7,252 ounces for the quarter to 31 March.
Market overview: Late rally in oil futures boosts Footsie
1630:Close The UK's top flight index sprinted back into the green in the last hour of trading, boosted by a rally in crude oil futures in the wake of the latest oil inventory numbers in the US and after the DoE forecast a large drop in America's oil output next year. Banks and homebuilders did well too, especially StanChart with its well-documented exposure to the mining sector. Nonetheless, and on a more ominous note, ex-BoE chief Sir Mervyn King chided governments for not doing enough with the time central banks had bought them.
Schneider Electric: Big data eases economic downturn impact on GCC petchems
By Ghassan Barghouth, Vice President, Middle East, Schneider Electric.
Europe close: Rebound in oil prices and gains for banks push stocks higher
European stocks continued their upward march on Wednesday, led by gains in bank and basic resource stocks amid mostly well-received corporate news, helped along by a rebound in oil prices in the final hour of trading.
Northcote Energy completes raising for Mexico project
Northcote Energy said it had completed its £0. 5m capital raising through a placing of 1. 6m shares to complete the Mayan Drilling Fluids remediation plant in Mexico “while retaining adequate working capital and flexibility to consider other strategic opportunities available to the company”.
Small caps news round-up
Serabi Gold continued its growth trajectory in the first quarter of 2016, it reported on Wednesday, with some solid numbers coming out of both its Palito and Sao Chico mines. The AIM-traded, Brazil focused gold mining and development firm produced 9,771 ounces of gold during the quarter, compared with 7,924 ounces a year earlier.
Miners and banks pace gains
Miners led on the upside throughout much of the session as some brokers weighed in with relatively upbeat assessments of the current market backdrop for the sector and industrial metals prices’ continued their push higher.
London close: FTSE ends higher as oil prices rebound
The FTSE 100 ended higher on Wednesday as oil prices rebounded and investors dusted off disappointing UK labour market data.
Serabi Gold reports strong trading in first quarter
Serabi Gold continued its growth trajectory in the first quarter of 2016, it reported on Wednesday, with some solid numbers coming out of both its Palito and Sao Chico mines.
US open: Stocks fall as oil prices decline
US stocks declined on Wednesday after oil prices fell and earnings from Coca-Cola disappointed.
88 Energy confirms plans for capital raising
88 Energy confirmed on Wednesday that it was looking to raise between AUS$10m (£5. 3m) - $10M (£8m) cash through a placing of new shares at 3. 5 cents each.
Kenya still dragging at Goldplat in third quarter
Goldplat updated the market on its third quarter operations on Wednesday, highlighting strong performance in South Africa and Ghana, though its Kenyan division was still dragging.
Thursday preview: ECB policy decision, Sky reports third quarter
The European Central Bank announces its latest policy decision on Thursday after introducing a raft of new measures in March to address prolonged low inflation and a stagnant economic recovery.
Wednesday broker round-up
Zoopla: Exane BNP Paribas reiterates neutral with a target price of 270p and Canaccord upgrades to buy with a 330p target.
Versarien, WMG team up on graphene batteries
Versarien began paving the way to better battery technology on Wednesday, announcing a memorandum of understanding with Warwick Manufacturing Group to collaborate on the production of power storage devices, using graphene nano platelets.
BoE's McCafferty cautions he may quickly revert to hawkishness
One of the foremost ‘hawks’ at the Bank of England cautioned that his newfound ‘dovishness’ might be quickly undone if the external factors weighing down on inflation lifted or if the pound remained too low for too long, threatening to filter through into the wage-setting process.