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Glencore gains as China data lifts copper
As copper prices came off their four-month lows thanks to anticipation of improved Chinese demand, Glencore was lifted to the top of the FTSE 100 on Wednesday morning.
Broker tips: Ocado, HSBC, Compass
Ocado was trading sharply lower on Wednesday after Exane BNP Paribas downgraded the stock to ‘underperform’ from ‘neutral’, keeping the price target at 215p, as it pointed to margin pressure and said the market’s expectations for profitability were too high.
UBS downgrades HSBC to 'neutral' from 'sell'
UBS downgraded HSBC to ‘neutral’ from ‘sell’ but nudged up the price target to 540p from 535p, with modest capital downside offset by dividend yield.
Town Centre Securities confident of increasing earnings despite Brexit
Leeds-based property investment and car parking company, Town Centre Securities’ lifted its dividend as net assets grew modestly but profit for the year were halved and the company cautioned about the heightened uncertainty around the Brexit vote.
Prepaid energy meter costs slammed by Ofgem
Energy retailers charging exorbitant amounts for customers to have prepayment energy meters installed were slammed by the industry regulator on Wednesday.
Public Accounts Committee says HS2 plans 'unrealistic'
MPs have raised concerns over the timetable of the High Speed 2 rail project, telling ministers they must set out a realistic plan.
Pure Gym to apply for £190m main market listing
Budget fitness chain Pure Gym Group revealed its plans to float on the London Stock Exchange on Wednesday, months after it first signalled the possibility.
Europe open: Stocks little changed as luxury shares come under pressure
European stocks were little changed in early trade, struggling to make any real gains as investors continued to mull over central bank policy.
Sky invests £1m in Drone Racing League
Sky has invested £1m in the Drone Racing League, which includes a distribution deal to show the league on one of its channels from October.
Alliance Pharma H1 profit doubles after acquisition
Alliance Pharma posted a jump in first-half profit and revenue as it benefited from the acquisition of the Sinclair Healthcare Products business last year.
JPMorgan upgrades Compass to 'overweight'
JPMorgan Cazenove upgraded Compass Group to ‘overweight’ from ‘neutral’ and lifted the price target to 1,580p from 1,380p.
London open: Stocks nudge higher ahead of jobs data
Stocks in London nudged higher in early trade following losses in the previous session, as investors awaited the release of some key jobs data.
Galliford Try confidently hoists payout after record profits
Galliford Try proposed a bumper final dividend after it reported a record annual profit thanks to strong growth and a positive outlook at its housebuilding, affordable housing partnerships and construction arms.
Dunelm full-year profit up as market share grows
FTSE 250 homeware retailer Dunelm reported a rise in full-year profit as revenue increased and the company grew its market share despite the growth of new competition, particularly online.
London pre-open: Stocks seen higher; jobs data in focus
Stocks in London were expected to open higher on Wednesday following losses in the previous session.
Sky invests in drone races, Galliford lifts dividend
London open The FTSE 100 index is predicted to open 22 points higher on Wednesday morning, after finishing just shy of 6,666 the day before.
Wednesday newspaper round-up: Bayer/Monsanto, Dyson, Tata, Apple
Bayer and Monsanto are on the verge of agreeing the largest takeover deal of 2016 to date, after the German company sweetened its offer for the US seed maker to just under $130 a share, people informed about the negotiations said. The deal, valuing Monsanto’s equity at about $57bn and worth about $66bn including debt, is likely to be announced as early as Wednesday morning in New York soon after Bayer’s board meets to sign off on the deal, several people close to the aspirin-to-crop chemicals conglomerate said.