Market Pulse
US equity indices slide into correction territory
US stocks indices lost early momentum, sliding on a volatile oil session and a major consumer discretionary retreat to finish at their lowest closing levels since late September.
Home Retail nears Homebase sale for GBP340m cash
Home Retail has confirmed it is in advanced discussions to sell its Homebase arm to Australia's Wesfarmers Limited for £340m cash, possibly paving the way for suitor Sainsbury's to swoop again for the company's Argos business.
Commodities: Oil market endures another volatile session
Oil markets witnessed another volatile session on Wednesday, with Brent and WTI futures alternating between positive and negative forays, while staying at 12-year lows as oversupply concerns and lacklustre demand continue to dominate market chatter.
Sector movers: Oil stocks shrug off market volatility
Oil and gas stocks shrugged off volatility in crude markets on Wednesday as headline London indices stayed in positive territory.
Market overview: Stocks bounce, oil doesn't
1630:Close BP closed at the head of the pack after an early bounce in oil futures which petered out later in the session. Stock in Shire was also higher on the back of an upgrade out of analysts at Credit Suisse. There was little in the way of economic data out on Wednesday, although stronger-than-expected Chinese trade figures did soothe some jangled nerves, as did slightly dovish remarks from two Fed speakers – at least if you were expecting four rate hikes from the Fed this year.
Europe close: Shares bounce back for a second day
European stocks racked up healthy gains on Wednesday as a bounce in oil prices and better-than-expected Chinese trade figures lifted the mood.
SocGen's Edwards says S&P 500 headed towards 550 points
The US Federal Reserve was unable to help the US economy with its programme of printing money, but it certainly did inflate global asset prices into the stratosphere, and that is now about to come back to haunt it, Societe Generale strategist Albert Edwards believes.
London close: Stocks close higher on upbeat China trade data
The FTSE closed in positive territory on Wednesday after China’s trade surplus unexpectedly widened, soothing concerns about the nation’s flagging economy.
Oil market will not begin to rebalance until late 2017, EIA says
The oil market will not begin to re-balance until late 2017, the US government said on Wednesday.
Bankers' bonus buyouts to be blocked by BoE
The Bank of England has moved to prevent bankers from clawing back bonuses when they move jobs, with new proposals to clamp down on bonus buy-outs.
FX Roundup: Dollar retains upward momentum
The dollar rose against a basket of major global currencies on Wednesday, while commodity linked currencies got a level of respite in European trading.
Results round-up
Shares in Shoe Zone rose on Wednesday as the specialist value footwear retailer declared a special dividend despite “a difficult year” for the industry.
US mortgage applications jump at the start of the year
US mortgage applications jumped sharply at the start of the year, suggesting that strength in the market for loans for home purchase at the end of last year carried through into 2015.
Premier Oil to buy E.ON's North Sea assets for $120m
Exploration and production company Premier Oil has struck a deal to acquire E. ON’s UK North Sea assets for a net $120m (£83. 3m) plus working capital adjustments.
FTSE 250 movers: Oil prices help market stay mostly in the black
The FTSE 250 was in the black for most of Wednesday, before a sharp fall late in the afternoon sent it into the red.
US crude stockpiles edged higher in latest week
US crude oil stockpiles edged higher last week while product inventories continued to surge ahead, government data revealed.
FTSE 100 movers: China confidence boosts miners
The FTSE 100 was in the black again on Wednesday, up 73. 00 points (1. 23%) by mid-afternoon to 6,002. 24.
Russia might be forced to close some oil production
Low oil prices for longer forced the Russian government to cut its budget and might even lead to a cut in oil production, government officials said on Wednesday.
Anpario CEO steps down after nine years
Shares in Anpario were knocked back from recent all-time highs by the resignation of chief executive David Bullen.
US open: Stocks rise as China trade surplus widens, oil prices recover
US stocks rallied on Wednesday after better-than-estimated China trade data soothed concerns about the slowdown in the world’s second largest economy.