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Wednesday broker round-up
Direct Line: Credit Suisse upgrades to Outperform with a target price of 410p.
US close: Yellen testimony gees up stocks
Stocks on Wall Street set new record closing highs on Wednesday thanks to further indications from Federal Reserve Chair Janet Yellen that monetary policy will be brought back to normal at a gradual pace.
Morgan Stanley double-upgrades Kingfisher on expected strategy flop
Kingfisher's attempt to implement joint-buying across the group will fail again (for a third time in fact) but at their current price the shares were implicitly assigning almost zero value to almost all its units, leading Morgan Stanley to double-upgrade the stock from 'underweight' to 'overweight'.
Results round-up
New Burberry chief executive Marco Gobbetti began his reign with an encouraging first quarter and a promise to create "new energy to drive growth" amid what he said was "a time of great change" for the company and the wider luxury industry.
Broker tips: Tesco, Kingfisher, TalkTalk
HSBC sounded an optimistic note following the competition regulator's announcement that it had referred Tesco's acquisition of Booker for a Phase 2 review.
HSBC optimistic on outcome of CMA review of Tesco/Booker tie-up
HSBC sounded an optimistic note following the competition regulator's announcement that it had referred Tesco's acquisition of Booker for a Phase 2 review.
Nicky Morgan elected chair of Treasury Select Committee
Conservative party centrist MP Nicky Morgan defeated hard-liner Jacob Rees Mogg by 290 to 226 votes in a ballot to chose the next chair of the powerful Treasury Select Committee.
Credit Suisse hangs up on TalkTalk
Analysts at Credit Suisse slashed their target price for Talk Talk's shares after the company's latest full-year numbers and the change in strategy from the company's new management.
FTSE 250 movers: Speculation drives Spire higher, sinks Carillion
Steel-maker Evraz rolled to the top of the leaderboard on the second-tier index in another risk-on day for metals generally speaking and for Chinese rebar futures in particular.
Thursday preview: UK credit conditions in focus, Asos updates
Asos and Babcock will provide quarterly trading updates on Thursday, with macroeconomic data on the including RICS' house price report, Chinese trade data and some inflation numbers in Europe and the US.
WTI pares gains as domestic US oil output rises
US oil stockpiles saw a large drawdown during the latest week, even as domestic US oil production rose, government data revealed.
Fed still set to tighten, Yellen says
The Federal Reserve will continue to tighten its monetary policy as falling unemployment on expectations for further moderate growth in the economy, the head of the central bank said.
Europe close: Stocks bolt out of the gates on more dovish central banks
Equities jumped as central bankers from around the world appeared to sound a more dovish note than had been the case over recent weeks.
London close: Best day for FTSE 100 since April after Yellen speech
London's top flight index bolted higher, registering its biggest one-day gain since April, after the head of the US central bank appeared to reinforce expectations for a more gradual pace of rate hikes.
Trump defends son as pressure on Donald Jr grows
US President Donald Trump has defended the actions of his son Donald Jr after he admitted meeting a Russian lawyer to gain information about Hillary Clinton’s campaign.
Cloudcall trading in line with market expectations
Cloudcall reported that trading was in line with market expectations over the latest six-month period, amid strong demand for its wares and record numbers of new users, bringing the company closer to financial break-even.
FTSE 100 movers: Mediclinic rises on rumours, miners lifted
The FTSE 100 was led higher on Wednesday by the City rumour mill, dollar weakness and some encouraging trading updates.
Nottinghamshire radio station hijacked at least eight times
It’s a scene often portrayed in thriller films of decades gone by, but now small Nottinghamshire radio station Mansfield 103. 2 is having to deal with a mystery broadcaster in real life.
Bank of Canada raises interest rates for first time in seven years
The Bank of Canada on Wednesday raised their headline interest rate for the first time in seven years, though it had been widely expected.
Next 15 acquiring Circle Research in £5.2m deal
Digital communications group Next 15 confirmed on Wednesday that it was acquiring the entire issued share capital of business-to-business market research consultancy Circle Research, through its data and insights subsidiary MIG Global.