Market Pulse
Tullow Oil and Soco International slump on Macquarie downgrade
Shares in Tullow Oil and Soco International were under pressure after Macquarie downgraded both stocks to ‘neutral’ from ‘outperform’ on valuation grounds, as it took a look at the European exploration and production sector.
Genel Energy's president retires
Mehmet Sepil has retired from his role as president of Genel Energy, the exploring company confirmed on Wednesday.
Fresnillo production on track for upper guidance as silver prices strengthen
A production update from Fresnillo showed the precious metals miner remains on course to hit its full-year guidance, with third-quarter silver production dwindling to 11. 04m oz but almost flat on the previous year and slightly lower than the preceding quarter.
Eurozone industrial production slows down as expected in September
Industrial production in the Eurozone slowed down in September, data released on Wednesday showed.
Water regulator slammed over water companies' GBP800m windfall
The National Audit Office (NAO) has criticised water regulator Ofwat over estimates that water companies made net windfall gains of at least £800m over the last five years.
Telford Homes expects to double profits
Telford Homes is expected to double its profit for the first half of the financial year as housing demand exceeds supply.
Xchanging recommends 160p per share offer from Capita
Outsourcing group Capita said the board of peer Xchanging has recommended its 160p per share offer, which values the company at around £412m, although Xchanging is still in discussions with Apollo Global Management.
Apple facing up to $862m in damages for patent infringement
Apple could be facing fines of up to $862m after the technology giant lost a patent lawsuit.
N Brown remains optimistic of turnaround as interim profts halved
N Brown, the specialist online and home shopping fashion retailer, impressed investors despite posting half-year results that showed a decline in profits as it shifts its business model from direct mail to digital.
UK unemployment rate falls to lower level since mid-2008
The UK’s unemployment rate fell unexpectedly in August to reach its lowest level since mid-2008, data released on Wednesday showed.
Marston's sales froth higher at year-end with margins ahead
A year-end trading update from Marston's showed the brewer had enjoyed a strong last few weeks of the year to lift like-for-like sales 1. 8% ahead of the previous year.
Derwent London secures extra GBP5.2m in rent since August
Property investor Derwent London has secured an additional £5. 2m of annual rent since 13 August on 93,600 sq ft of its buildings.
DS Smith acquires Greek sector peer
Recycled corrugated packing provider DS Smith has completed the acquisition of Greek sector peer Cukurova Group.
London open: Stocks decline as China inflation slows
London shares were on the back foot on Wednesday after an easing in Chinese inflation fuelled worries about the country’s weakening economy.
Domino's Pizza sees full-year results ahead of expectations
Shares in Domino’s Pizza rocketed on Wednesday after it said full-year results are likely to be ahead of its expectations, as it delivered a tasty performance in the third quarter and a solid start to the fourth quarter.
China's consumer inflation declines in September
China’s consumer inflation slowed down in September as domestic demand remained weak, data released on Wednesday showed.
Europe open: Equities fall as investors digest more disappointing Chinese data
European stocks fell in early trade, taking their cue from downbeat sessions in the US and Asia amid ongoing concerns about the health of the Chinese economy.
Ultra Electronics buys Furnace Parts for $12m
Ultra Electronics has acquired Furnace Parts from Takoda Group for a cash consideration of $12m.
Wednesday newspaper round-up: Volkswagen, Home prices, Global inequality
Volkswagen could be prosecuted by the British government for cheating emissions tests, it has emerged. Patrick McLoughlin, the transport secretary, said that VW’s bosses may be hauled before the courts if it is proved that they deliberately lied to vehicle regulators in the UK. The Department for Transport has been consulting lawyers over likely action to be taken against the German carmarker in light of the emissions scandal. - The Times.
Hargreaves Lansdown lifts revenue and eyes benefits of Lloyds Bank offer
Hargreaves Lansdown reported an increase in new clients, though assets under administration have dipped due to the tough market.