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Broker tips: Sage, B&M, Darktrace
JP Morgan has placed Sage on its "positive catalyst watch" ahead of the accounting software group's fourth-quarter results in November, where it expects to see solid growth with its cloud finance offering Intacct.
US pre-open: Futures fall on rising bond yields, oil prices
A surge in oil prices and bond yields pushed US stock futures into the red on Wednesday as concerns about inflation returned to markets and dampened risk appetite.
Europe midday: Shares slip as EZ retail sales, oil prices hit sentiment
European shares extended losses on Wednesday as oil prices rose in response to Saudi Arabia's decision to extend its voluntary supply cut, inflationary fears persisted and eurozone retail sales fell.
London midday: Stocks stay down; construction data in focus
London stocks were still in the red by midday on Wednesday as a jump in oil prices sparked worries about inflation.
Eurozone retail sales slip in July
Retail sales across the Eurozone fell by more than expected in July, official data showed on Wednesday.
Bakkavor lifts outlook as China volumes, prices rise
Food company Bakkavor on Wednesday lifted full-year guidance as higher prices and volumes in China helped it post a rise in profit and revenue for the half-year.
Barratt FY profits fall, no buyback as rising mortgage costs bite
UK housebuilder Barratt on Wednesday reported a fall in annual profits, cut its dividend and said there would be no share buyback this year as higher borrowing costs hit mortgage affordability.
Darktrace's margin guidance cut not a big deal, says Berenberg
Shares in Darktrace slipped on Wednesday morning after the cybersecurity firm cut its margin guidance for the current financial year owing to changes in its commission structure; but broker Berenberg said the overall impact would be muted as it maintained its 'buy' rating on the stock.
Europe open: Oil prices, inflation fears hit shares; Idorsia tanks
European shares opened lower on Wednesday as oil prices rose in response to Saudi Arabia's decision to extend its voluntary supply cut and inflationary fears persisted.
Restaurant Group returns to profit after strong first half
The Restaurant Group boosted its full-year guidance on Wednesday, after a strong first half saw it swing back into the black.
Gateley maintains record of underlying growth
Professional services company Gateley maintained its consistent record of annual revenue and underlying profit growth in its final results on Wednesday.
Atlantic Lithium reports latest assay results from Ewoyaa drilling
Africa-focussed lithium explorer and developer Atlantic Lithium released further assay results from its ongoing resource and exploration drilling programme at the Ewoyaa Lithium Project in Ghana on Wednesday.
Asia report: Markets mixed after oil producers extend cuts
Markets across the Asia-Pacific region showed a mixed bag of performance on Wednesday, influenced by the decision of Saudi Arabia and Russia to extend their voluntary oil production cuts until the end of the year.
Eurozone construction activity contracts again in August
Eurozone construction activity contracted again in August, according to a survey released on Wednesday.
UK construction growth slows as housebuilding drops
UK construction activity rose only marginally in August, as growth slowed from the previous month, with housebuilding struggling and new orders dropping at their fastest rate in over three years.
Saudi Arabia's STC snaps up 9.9% stake in Telefonica
Saudi Arabia’s STC Group has acquired a near 10% stake in Spanish telecoms giant Telefonica, it was confirmed on Wednesday.
Shore Capital upgrades B&M to ‘buy’ on Wilko deal
Shore Capital upgraded B&M European Value Retail on Wednesday to ‘buy’ from ‘hold’ and lifted the fair value to 640p from 560p on news that the discount retailer will buy up to 51 Wilko stores for £13m.
Cryptos rebound; the SEC and macro data keep the market on edge
Cryptocurrencies rise moderately. Bitcoin (BTC) advances 0. 2% in the last 24 hours and regains $25,700, although it remains far from $26,000, and Ethereum (ETH) rises 0. 5% and hovers around $1,630.
Darktrace full-year revenues rise as expected, 2024 guidance reiterated
Cybersecurity specialist Darktrace hit its guidance for full-year revenues and client additions.
JP Morgan sees huge potential for Sage Intacct
JP Morgan has placed Sage on its "positive catalyst watch" ahead of the accounting software group's fourth-quarter results in November, where it expects to see solid growth with its cloud finance offering Intacct.