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US close: Stocks edge up as Fed minutes confirm division
US stocks recouped mid-session losses to finish slightly higher on Wednesday as the Federal Reserve’s meeting minutes showed a continued reluctance to jump to any conclusions about the state of the economy.
UK won't pay future contributions to EU budget, report says
When negotiating with the European Union for the country’s exit, Britain will seek to gain discretionary control over lawmaking and immigration policy, while it also stops making compulsory contributions to the EU budget, according to reports citing government sources.
Fed rate-setters divided on pace of rate hikes needed, minutes show
Policy-makers at the US Federal Reserve were divided when they met in July about just how soon policy needed to be tightened next, with some focusing on labour market gauges which were pointing towards so-called 'full-employment' and others preferring to wait given what they said were benign inflation conditions, the minutes of their last rate-setting meeting showed.
Bonds: Scope for BoE easing unchanged after employment report
These were the movements in the yields of the most widely-followed 10-year sovereign bonds:.
FX round-up: Cable steady after FOMC minutes, Fed's Bullard in no rush
The pound was little changed after having snapped back from recent weakness during the previous session, despite the release of a better-than-expected employment report for the three months to June.
Sector movers: Construction sector finds a bid, insurers off
Insurance stocks dragged on the London equity market after Admiral reported a drop in its so-called Solvency II coverage ratio at the half-year stage from 206% to 180%, courtesy of a large drop in interest rates which in turn boosted its liabilities, particularly in the case of its unstated PPO exposures, ShoreCap's Eamonn Flanagan said in a research report sent to clients.
Europe close: Stocks move lower ahead of US Fed minutes
European stocks fell on Wednesday as investors awaited the release of the latest minutes from the Federal Reserve against the backdrop of somewhat hawkish remarks from two US central bank officials during the previous session.
High ranking North Korean diplomat in London defects to South Korea
North Korea’s deputy ambassador in London defected to South Korea, the first high-profile defection since official ties were established and the embassy was opened in 2003.
Wednesday newspaper share tips: Polypipe, Antofagasta
Polypipe should not be affected by the result of the EU referendum, as its trading performance during the first half of the year attests, according to the Financial Times’ Lex.
Intel and ARM announce partnership on smartphone chips
Intel will start making smartphone chips in one its factories based on designs by London-listed ARM Holdings.
London close: Stocks slide as traders weigh UK jobs, await Fed minutes
London stocks finished in the red on Wednesday as traders assessed UK jobs data and awaited the release of the Federal Reserve’s meeting minutes.
Monsanto reiterates 2016 EPS forecasts
Monsanto reiterated its forecast for profits in fiscal year 2016, adding that it expected them to start growing again in the following year.
Small caps news round-up
Strategic natural resource investor Metal Tiger advised the market on Wednesday that it has raised £1. 1m through a placing and subscription of shares. The AIM-traded company said the placing and subscription of 28,571,428 new ordinary shares in Metal Tiger was at a subscription price of 3. 85p per ordinary share.
Christie & Co brokers sale of Little Unicorn Day Nurseries
Professional business services company Christie Group announced on Wednesday that Christie & Co, its specialist provider of agency and advisory services, has successfully brokered the sale of Canary Wharf's Little Unicorn Day Nurseries Group to leading childcare provider Bright Horizons Family Solutions.
Brexit vote casts cloud over consumers' outlook
British consumers' take on the economy took a turn for the worse after the referendum vote, the results of a survey showed.
Results round-up
Insurer Admiral lifted its interim dividend by almost a quarter as the UK car and home insurance businesses cruised ahead, but profits were short of City forecasts and analysts angsted about a sharp drop in the Solvency II position in the half.
Urban Outfitters clocks in with strong sales, shares fly
Urban Outfitters's wares flew off the hangers during its second fiscal quarter, driving improved margins and better than expected sales.
AEC Education weathers tough year in Asia
Europe and Far East education services provider AEC Education posted its results for the year to 31 December 2015 on Wednesday, with revenues £7. 7m sliding from £8. 1m in 2014.
Metal Tiger raises £1.1m in placing and subscription
Strategic natural resource investor Metal Tiger advised the market on Wednesday that it has raised £1. 1m through a placing and subscription of shares.