Market Pulse
Lebanon upbeat on oil and gas exploration despite political deadlock, says official
The Petroleum Administration of Lebanon (PAL) remains positive on oil and gas exploration despite a political impasse and security impediments in the Mediterranean nation, according to a senior official.
Asian natural gas market's turn in buyers' favour not surprising, says Aussie official
The turn of Asia's natural gas markets in buyers’ favour should not come as a surprise, according a senior official from Western Australia, the country’s hydrocarbon rich province.
US close: Dow gains over 120 points as stocks extend gains
US stocks rallied early on Wednesday, taking the lead from worldwide equity markets, as the Dow Jones Industrial Average posted its best win streak since July.
SocGen sees recovery in commodity prices
Commodities should bottom out and recover to some extent in the medium-term, but investors are considerably more sceptical now in the aftermath of the spectacular declines seen in prices recently.
Europe close: Stocks end off their best levels of the day
European equity markets edged higher, underpinned by strength in the basic resources and oil and gas sectors, as investors shrugged off disappointing factory data from Germany and Spain and ahead of the release of the latest FOMC minutes tomorrow.
Strat Aero share take off on UAV Airways deal
Shares in Strat Aero soared over 10% on Wednesday, after the aerospace services group has signed a joint venture agreement with unmanned aerial vehicle training specialist UAV Airways.
London close: Mining shares, upbeat UK data boost equities
A rally in mining shares and better-than-estimated reports on UK manufacturing and industrial output gave London stocks a boost on Wednesday.
Clinigen directors cash in options
Clinigen Group directors have taken home a nice mid-week bonus after three exercised their options and a fourth sold a large portion of his stake.
Conviviality Retail completes Matthew Clark deal
Off licence and convenience stores owner Conviviality PLC confirmed it has completed the acquisition of Punch Tavern’s 50% stake in drinks supplier Matthew Clark for a combined £200m.
Sector movers: Mining and metals stem market declines
Basic resource stocks helped to prop up London markets against bigger declines on Wednesday, after Morgan Stanley lifted its view on the European metals and mining sector.
Third quarter economic slowdown to be temporary, NIESR says
Britain’s economy continued growing in the third quarter at its more recent subdued pace, but that was not expected to last, a leading economic think-tank said.
Jaeger owners said to be exploring sale after bid approach
The owner of British fashion label Jaeger is reportedly exploring a sale of the company just weeks before the Christmas trading period gets under way.
Tern gets 37.5k in legal settlement
AIM-listed Tern said it has reached a settlement on a legal claim that was outstanding prior to its reorganisation in August 2013.
Commodities: Oil, base metals spike on supply correction sentiment
Oil and base metal futures headed higher on Wednesday with supply correction sentiment gaining traction, while gold markets saw lacklustre trading in Europe.
Barclays ups Old Mutual to 'overweight'
Barclays upgraded Old Mutual to ‘overweight’ from ‘equalweight’, keeping the price target at 235p, saying risks are skewed to the upside and the stock is underpriced.
Positive impact of lower oil price not yet seen, Credit Suisse says
Oil prices will soon begin to stabilise, which is critical to equities and cyclical stocks in particular, analysts at Credit Suisse said on Wednesday.
ISG awarded multi-million pound London office development
ISG has been awarded a £29m contract to build a new commercial office development in London.
Nomura sees AB Inbev raising bid towards mid-GBP 40s
AB Inbev sweetened its bid price for rival brewer SAB Miller for a third time on Wednesday morning.
US open: Dow jumps over 120 points as oil prices provide boost to equities
US stocks rallied early on Wednesday, taking the lead from worldwide equity markets and as oil prices extended gains.
FTSE 250 movers: Miners and energy stocks rally; Wizz Air crashes
London’s FTSE 250 index was down 0. 2% at 17,101. 89 just after 1400 BST, underperforming the broader market.