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Wednesday preview: UK CPI, Biden-Xi meetings in the spotlight
Investors' focus in the middle of the week will be split between the UK economy and geopolitics.
US close: Stocks post huge rally as inflation falls more than predicted
US stocks surged from the off and held on to impressive gains by the close after a bigger-than-expected drop in inflation reignited hopes that the Federal Reserve will refrain from hiking interest rates again this cycle.
London close: Stocks turn higher on cooler US inflation report
London’s stock markets had managed to turn positive by the close on Tuesday after a lower-than-expected inflation report from the United States boosted confidence while investors also mulled the latest UK jobs data.
Europe close: Stocks jump on U.S. CPI data
European stocks jumped after U. S. consumer price figures for October printed a tad below economists' forecasts, prompting speculation of interest rate cuts by the Federal Reserve, America's central bank.
Broker tips: M&G, IHG
RBC Capital Markets downgraded M&G on Tuesday to ‘sector perform’ from ‘outperform’ and cut the price target to 200p from 220p as it turned more cautious on asset management.
Director deals: Redrow chairman picks up shares
Redrow's non-executive chairman bought shares in the homebuilder at the start of the week.
Greatland starts drilling at Meadows gold prospect
Greatland Gold announced the start of drilling activities at the Meadows gold prospect within the Ernest Giles Project on Tuesday, in an underexplored Archean greenstone belt in Western Australia’s Yilgarn Craton.
Roughly 500 jobs to go at Pfizer's Kent site
Around 500 jobs are set to go at pharma giant Pfizer's Kent site.
FTSE 250 movers: Watches of Switzerland surges; Vesuvius in the red
London’s FTSE 250 was 3% higher in afternoon trade on Tuesday at 18,458. 06.
US open: Stocks spring higher on softer than expected CPI data
Stocks on Wall Street sprang higher on the back of a softer-than-expected reading for US consumer prices.
Berenberg downgrades IHG to 'hold', lowers target price
Analysts at Berenberg downgraded their recommendation for shares of hotel operator IHG from 'buy' to 'hold'.
US CPI undershoots forecasts in October
The cost of living in the U. S. fell back in October by more than expected.
FTSE 100 movers: DCC surges; Vodafone slumps on results
London’s FTSE 100 was up 0. 2% at 7,439. 85 in afternoon trade on Tuesday.
Dr Martens appoints Giles Wilson as CFO
Iconic bootmaker Dr Martens said on Tuesday that it has appointed Giles Wilson as chief financial officer.
Fintel makes two more acquisitions amid strong trading
Financial technology and support specialist Fintel announced two significant strategic acquisitions on Tuesday and an update on its recent trading.
Fonix Mobile starts year in line with expectations
Payments and messaging specialist Fonix Mobile reported a solid start to its financial year on Tuesday, which aligned with expectations.
RBC Capital downgrades M&G to ‘sector perform’
RBC Capital Markets downgraded M&G on Tuesday to ‘sector perform’ from ‘outperform’ and cut the price target to 200p from 220p as it turned more cautious on asset management.
Thames Water returning £73.8m to customers under Ofwat determinations
UK water regulator Ofwat announced the financial penalties and payments for all water companies for 2022-2023 on Tuesday, with Thames Water set to return the most money to customers.
Cake Box on track after first half of growth
Fresh cream cake retailer Cake Box reported a 6. 8% improvement in first-half revenue on Tuesday to £18m.
Europe midday: Stocks little changed as investors bide their time ahead of US CPI numbers
European stocks were trading modestly higher despite nerves ahead of some key economic data, including a closely watched reading on US inflation.