Market Pulse
Worldpay Group, Provident Financial and DCC to join FTSE 100
On Wednesday evening FTSE announced the results of its December review, with Worldpay Group, Provident Financial and DCC replacing G4S, Morrisons and Meggitt in the top flight index as of 18 December.
Data before December FOMC will be key, Fed's Yellen says
The economic recovery Stateside was progressing well, but a rate rise come December was still not guaranteed, the president of the US central bank said on Wednesday evening.
Market overview: Cable drops to seven-month low
1630:Close Merlin Entertainments led gains on the top flight index a day after its latest financials, followed close behind by Shire and GlaxoSmithKline which benefitted from upgrades out of Morgan Stanley. IAG got a boost from positive coverage out of Nomura. Miners were the weak link in the chain, dragged lower by falling copper prices. Meggitt did worst, ahead of expected announcement that it would be excluded from the Footsie starting 21 December. FX was in focus as cable sank below the 1.
Turkey involved in Islamic State oil trade, Russian defence ministry claims
Russia’s defence ministry on Wednesday claimed that it has evidence that Turkish President Tayyip Erdogan was involved in the illegal smuggling of oil from Islamic State-held territory in Syria and Iraq.
Sector movers: Pharmaceutical stocks see uptick as resource stocks tumble
A decline in natural resource stocks was evened out by pharmaceutical companies on Wednesday, sending the London market sideways, albeit marginally towards the positive side.
Results round-up
Infrastructure management company Sweett Group said it has admitted to an offence under the UK Bribery Act for which it expects to pay a fine, as it posted a wider pre-tax loss for the first half.
Europe close: Equities decline ahead of ECB's decision
European stocks slid on Wednesday after a disappointing reading on Eurozone inflation increased the odds of additional stimulus from the European Central Bank.
London close: Stocks gain as analysts expect QE expansion by ECB
UK stocks gained on Wednesday as further quantitative easing by the European Central Bank seemed more likely after Eurozone inflation fell short of forecasts.
Commodities: Oil slides towards six-year low ahead of OPEC meeting
Oil benchmarks slipped towards six-year lows on Wednesday, ahead of the OPEC meeting later this week, while metals saw lacklustre trading following two days of upticks.
EU to help countries impacted by El Nino weather phenomenon
The European Union will contribute millions of euros to help countries faced with catastrophic losses as a result of this year’s El Nino weather phenomenon.
Mkango Mining plots London listing to speed rare earth exploration
Mkango Resources, a Toronto-listed rare earth explorer led by former Rio Tinto geologist Will Dawes, has applied to float on London's AIM in January.
Virgin urges Premier League to allow broadcasters to show every live game
The Premier League has been urged to introduce US-style regional blackouts that would allow broadcasters to show all 380 matches live on TV.
Moneysupermarket.com founder takes further steps to exit the company
Moneysupermarket. com founder Simon Nixon has sold nearly half his remaining stake in the comparison website.
Yahoo mulls sale of main businesses, reports say
Yahoo will reportedly decide this week whether to sell its entire core internet business, putting rival media companies around the world on alert.
Turkish prime minister will step down if reports of oil smuggling with Daesh true
Turkish prime minister Recep Tayyip Erdogan said he would step down if it were proven that his country has been purchasing oil from Daesh.
UK competition chief backs Uber over TfL proposals
The head of the UK's Competition and Markets Authority has slammed Transport for London’s proposed crackdown on Uber.
Inflation will return to target, BoJ deputy governor says
Japan’s central bank was confident the economy would continue to grow and that inflation would continue to recover, but weakness in emerging markets was a risk, a top official said on Wednesday.
FTSE 250 movers: Greene King's half year profit keeps market balanced
The FTSE 250 was still in the green on Wednesday before the London Stock Exchange was due to announce which companies would be promoted and demoted from the FTSE 100 and 250.
FX Roundup: Dollar reverses declines as euro tumbles
The dollar surged against a basket of global currencies on Wednesday, with European Central Bank’s upcoming meeting weighing on the euro.
US open: Stocks struggle for direction after ADP report
US stock indices wavered early on Wednesday, after an upbeat private jobs report and comments from a top Federal Reserve official strengthened the case for a December rate hike, with chair Janet Yellen due to speak later.