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US close: S&P 500, Nasdaq hit new highs after CPI data and FOMC meeting
US stocks finished mostly higher on Wednesday with the S&P 500 and Nasdaq reaching new highs after data showed a larger-than-expected slowdown in inflation and the Federal Reserve gave more visibility around the interest-rate outlook.
Europe close: US CPI down, stocks up, Fed still to go
European shares gained as investors moved to price back in a first interest rate cut by the US Federal Reserve in September, even as they waited on the central bank's rate decision after the close of markets.
Sector movers: Industrial Support Services, Real estate names pace gains
A rebound in shares of Rentokil was the standout feature in the UK investing landscape in the middle of the week.
ECB's De Guindos says direction of rates 'clear', but cautious in near-term
Luis de Guindos at the European Central Bank expressed confidence that interest rates were headed lower still, but perhaps more slowly than anticipated.
US CPI undershoots forecasts in May
The cost of living in the States was unchanged last month, leading markets to price in higher odds of a rate cut in September.
Broker tips: Whitbread, GB Group, Renew Holdings, Flutter Entertainment
Jefferies reiterated its ‘buy’ rating on Whitbread but lowered its target price on the stock to 4,000. 0p from 4,200. 0p on the back of the hospitality firm’s growth plans.
London close: Stocks rise as US inflation undershoots forecasts
London stocks closed higher on Wednesday as investors reacted to economic data from the US and the UK, with lower-than-expected inflation figures from the United States and uninspiring GDP data from the UK.
Director dealings: RWS Holdings CEO ups stake
RWS Holdings revealed on Wednesday that chief executive Ian El-Mokadem had acquired 5,000 ordinary shares in the AIM-listed intellectual support services firm.
Alpha FMC extends takeover deadline as talks with Bridgepoint ongoing
Alpha Financial Markets said on Wednesday that the ‘put up or shut up’ deadline for Bridgepoint to make an offer for the group has been extended as the two parties are still in talks.
Thursday preview: US producer prices, US Treasury auctions in focus
The market spotlight on Thursday will continue to be on the US inflation picture.
FTSE 250 movers: Safestore, Octopus Renewables lose ground
London’s FTSE 250 was up 1. 2% at 20,499. 68 in afternoon trade on Wednesday.
FTSE 100 movers: Rentokil surges; Legal & General in the red
London’s FTSE 100 was up 0. 9% at 8,219. 56 in afternoon trade on Wednesday.
US open: Stocks trade higher following CPI reading
Wall Street stocks were in the green at the bell on Wednesday as investors look ahead to the outcome of the Federal Reserve's June policy meeting and another batch of inflation data.
Bank of England on track to start cutting rates in August - poll
The Bank of England is expected to start cutting the cost of borrowing this August, a Reuters poll found on Wednesday.
FedEx to cut between 1,700 and 2,000 back office jobs in Europe
US parcel delivery firm FedEx said on Wednesday that it plans to axe between 1,700 and 2,000 back-office and commercial jobs in Europe as it looks to cut costs amid a slump in freight demand.
Starling sees profits surge, flags rise in bad loans
Challenger Starling Bank posted a jump in annual profits on Wednesday and reiterated its commitment to a possible stock market debut, despite a jump in bad loan provisions.
US mortgage applications surge as Treasury yields fall
US mortgage applications soared 15. 6% in the week ended 7 June, according to the Mortgage Bankers Association of America, rebounding from a 5. 2% drop in the previous week and erasing the prior two week’s declines.
Mosman Oil farm-in partner gets funding grant for EP 145
Hydrocarbon, helium, and hydrogen exploration, development, and production company Mosman Oil & Gas updated the market on the EP 145 project in the Amadeus Basin of Central Australia on Wednesday, operated by its farm-in partner Greenvale Energy.
Dillistone still cautious despite trading ahead of forecasts
Recruitment software and service provider Dillistone Group said in an update on Wednesday that its trading performance for the first half was slightly ahead of management expectations.
Proton Motor gets follow-up order from Switzerland's H2tec
Proton Motor Power Systems announced a follow-up order from Switzerland-based H2tec on Wednesday, for its HyCabinet S16 system.