Latest News
US close: Stocks rally as Fed caution vindicated and oil rebounds
US stock markets recovered from early Wednesday wobbles to recoup most of the week's losses so far as minutes from the Federal Reserve's latest policy meeting indicated there would be no rate hike until markets simmered down and domestic data strengthens.
Melrose Industries swoops for $2.2bn Nortek's US residential access
Melrose Industries has agreed to acquire US air conditioning and security technology group Nortek for $1. 44bn in cash, funded by a proposed £1. 61bn issue of new shares.
Morgan Stanley queries real-economy demand for lending amid Brexit
Investment bank Morgan Stanley has questioned whether there will be real-economy demand to borrow from banks given Brexit-induced uncertainty, regardless of Bank of England's recent bid to stoke such lending.
FX round-up: Sterling savaged by traders fleeing Brexit fears
Sterling continued its stone-like drop against most crosses as traders savaged the UK unit on acute Brexit fears and packed their bags for perceived safer assets such as gold and the yen.
Bonds: US, UK banks have good liquidity position, Fed´s Tarullo says
These were the movements in the most widely-followed 10 year sovereign bond yields:.
Network Rail delayed around £1bn in renewal and enhancement work last year
State-owned Network Rail is under further pressure after it was announced that approximately £1bn in work that was supposed to be carried out by the company was delayed in the last year.
Jeremy Hunt to impose junior doctors' contract due to union impasse
Health secretary Jeremy Hunt said on Wednesday he will impose the new contract affecting 54,000 NHS junior doctors in England after he, nor the union, could reach an agreement.
London Capital Group on top after Brexit vote
London Capital Group (LCG) said on Wednesday that the UK's vote to leave the EU has had a positive impact on profits and revenues despite the recent shake up in financial markets.
Three more property funds titans freeze redemptions
Henderson Global Investors, Canada Life and Columbia Threadneedle have joined the queue of property funds suspending trading amid acute Brexit fears, lining up behind Aviva, M&G and Standard Life.
London close: Stocks close lower as pound hammered by Brexit
The FTSE 100 finished in the red on Wednesday as the pound plunged against the dollar on growing Brexit fears.
Directors dealings: Clarkson chairman picks up shares in battered shipbroker
Clarkson´s chairman, James Hughes-Hallett, picked up a batch of shares of the battered shipbroker a day after it issued a profit warning.
Europe close: Markets end in shades of red
Markets in Europe ended Wednesday in various shades of red, extending their losses into a third day, with stocks in lenders worsening to levels not seen in five years.
Small caps news round-up
European Metals Holdings is pleased with results from the PSn13 drill hole, which returned a main mineralised intercept of 167. 1m averaging 0. 36% lithium oxide. This intercept, within the Cinovec deposit, included high-grade intervals of 12m averaging 0. 77% lithium oxide and 7m averaging 0. 87% lithium oxide , as well as a tin-enriched interval of 8m averaging 0. 16% tin.
US service sector activity accelerates in June, ISM survey shows
US services sector activity jumped back in June, according to the results of the most widely-followed survey.
European Metals Holdings pleased with PSn13 drill hole results
European Metals Holdings is pleased with results from the PSn13 drill hole, which returned a main mineralised intercept of 167. 1m averaging 0. 36% lithium oxide.
Consob temporarily halts short-selling in Banca Monte dei Paschi di Siena
Stock in struggling Italian lender Monte dei Paschi di Siena bounced back after the country´s financial market regulator, Consob, temporarily banned short-selling in the bank´s shares.
Vast Resources raises working capital in placing
Romania and Zimbabwe-focused miner Vast Resources announced on Wednesday that it has raised £0. 86m before costs through a placing and subscription of 300 million ordinary shares of 0. 1p in the company, at a price of 0. 285p per share.
US opioid addicts to receive more access to treatment drug
Access to new drugs that curtail addictions to opioids will be made more readily available to the American public, says US Secretary for health and human services Sylvia Burwell.
Guscio completes placing to settle adviser fees bill
Technology company Guscio announced on Wednesday that it has issued 125,000 new ordinary shares of 0. 1p each at a price of 4p per share, as a payment to an adviser in lieu of fees.
Henderson Group suspends dealings in property fund
Henderson Global Investors reportedly suspended dealings in a £3. 9bn UK property fund, becoming the fourth financial outfit to do so this week.