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Thursday preview: Jackson Hole Symposium, German business confidence in focus
All eyes on Thursday will be on the start of the central banking symposium at Jackson Hole, Wyoming (U. S. A. ), as investors search for guidance on the path that monetary policy will follow in 2023.
US close: Dow snaps three-day losing streak
Wall Street’s main indices managed a positive finish on Wednesday with the Dow snapping its three-day losing streak, as investors looked ahead to the Fed’s Jackson Hole summit on Thursday.
Rio Tinto raises bid for owner of massive Mongolian copper mine
Rio Tinto upped its bid for Turquoise Hill, the majority owner of the Oyu Tolgoi copper mine in Mongolia.
London close: Stocks remain red ahead of Fed's symposium
London stocks were off their earlier lows but still weaker by the close on Wednesday, as investors looked to the US Fed’s Jackson Hole symposium, due to begin on Thursday.
FTSE 250 movers: Aston Martin paces losses, SoftCat higher
Aston Martin Lagonda was the worst performer on a flattish day for the second-tier index.
FTSE 100 movers: Property developers, homebuilders weakest as 10-year Gilt yields back at 1-year high
Property developers and homebuilders, including Land Securities Group and Persimmon, paced losses on the top-flight index as yields on the benchmark 10-year Gilt climbed to within a whisker of their 52-week highs.
Aveva says it would evaluate an offer from Schneider if it received one
Aveva recommended to its shareholders that they take no action following Schneider Electric's confirmation that it was mulling a possible bid for the shares that it did not already own.
US open: Stocks slightly higher as investors await Jackson Hole
Wall Street’s main market gauges were all tentatively higher in early trading on Wednesday, as investors sifted through the latest data on durable goods and housing sales.
US pending home sales fall by less than expected in July, NAR spies bottom
Pending home sales in the US fell by less than expected last month and contract signings may be close to a bottom, a leading business lobby group said.
OptiBiotix tumbles as it warns of 'materially lower' sales
Life sciences company OptiBiotix Health said in a trading update on Wednesday that, based on initial figures, it expected first-half sales in its new structure to be “materially lower than expected” at around £0. 12m.
Coro Energy inks deal to offload Italian portfolio
Coro Energy has entered into an option agreement with an existing operator in Italy, it announced on Wednesday, for the sale of its Italian natural gas asset portfolio, for up to €7. 5m (£6. 32m).
Essensys reports year of 'good' post-Covid progress
Workspace technology and software company Essensys said in a trading update on Wednesday that during the financial year just ended, it made “good progress” against its strategic growth plan, with momentum returning post-pandemic.
Forward Partners portfolio value narrows as it winds down Advances
Technology-focussed investment firm Forward Partners said in an update on Wednesday that it expected its half-year ventures portfolio value to be at least £92m, including £6. 3m in new investments.
Director dealings: Purplebricks chair buys another million shares
Shares in Purplebricks were rising on Wednesday afternoon, after its non-executive chairman purchased another million shares.
US durable goods orders unchanged in July, but details stronger
New orders for goods made to last at least three years undershot economists' forecasts in July, in part as an expected surge in civilian aircraft orders failed to materialise, even as those for defence aircraft nearly halved.
Schneider Electric considering bid for Aveva, shares surge
Aveva surged on Wednesday after France’s Schneider Electric said it was considering making a bid for the London-listed software company.
Gfinity launches e-sports platform, appoints strategic advisor
E-sports and gaming solutions provider Gfinity announced the launch of Athlos Game Technologies on Wednesday, to provide clients with a tournament-based platform to “deepen” player engagement, lower player churn, and increase average revenue per user.
Europe midday: Stocks claw back earlier losses ahead of Jackson Hole
European stocks were clawing back earlier losses by lunchtime on Wednesday as investors eyed the Jackson Hole symposium and in particular, a speech by Federal Reserve chair Jerome Powell.
London midday: Stocks still lower on cost-of-living consternation
London stocks were still in the red by lunchtime on Wednesday amid ongoing worries about inflation and a global slowdown, as investors eyed the Jackson Hole symposium.
Bed Bath & Beyond secures loan deal - reports
Ailing US home goods retailer Bed Bath & Beyond has secured a loan deal, it emerged on Wednesday, in a bid to secure its liquidity issues.