Market Pulse
Staples gets EU approval for Office Depot takeover
The European Commission has approved Staples’ proposed $6. 3bn takeover of office supplies distributor Office Depot, subject to the divestment of some of the latter’s businesses in Europe.
Landore to offload non-core Canadian lithium resource
Landore Resources had secured a deal to offload its Root Lake non-core lithium property in north western Ontario, Canada on Wednesday, to dedicated lithium producer Ardiden.
Synectics wins contract extension with Stagecoach
One of Synectic's large contracts was extended on Wednesday, providing the firm with security of work in the transport sector for another year, with multinational bus and rail operator Stagecoach.
ARM muscles past forecasts but shares hit by Apple worries
ARM Holdings posted a strong set of full year results and said it was confident of meeting forecasts for 2016 as demand for its microchip technology continues to grow.
Europe midday: Banks pace the advance as stocks bounce back; Yellen eyed
European stocks racked up solid gains on Wednesday, with banks surging ahead following heavy losses in the previous session, as investors looked to Federal Reserve chair Janet Yellen’s testimony before Congress.
London midday: Equities gain as banking stocks and oil prices rebound
London stocks edged higher on Wednesday as banking stocks and oil prices recovered.
Yellen testimony could become "verbal slugfest"
Federal Reserve chair Janet Yellen is set to deliver her half yearly testimony on Wednesday afternoon and one market analyst believed some lawmakers may see it as an opportunity to shine.
Deutsche Bank mulling repurchase of its own bonds, shares jump
Shares in Deutsche Bank jumped sharply following a report the German lender was studying the possibility of buying back some of its bonds in a bid to help ease investors' concerns about its financial position.
Hornby tanks as it warns on profits again
Shares in Hornby fell sharply after the train set maker said it now expects to report an underlying pre-tax loss of £5. 5m to £6m for the year to March.
Leed Resources looks set for AIM suspension
Natural resource investing company Leed Resources said it was unlikely that a reserve takeover deal could be done in time to avoid the stock being suspended from AIM.
SocGen downgrades Glencore ahead of production numbers
Societe Generale downgraded Glencore to ‘hold’ from ‘buy’ pointing to finely balanced fundamentals.
Citigroup suggests four hedges against Brexit
Citigroup reckons there is a 20-30% risk of ‘Brexit’, perhaps even as high as 30-40%, so while it’s not the bank’s base case, it is “by no means a trivial risk”.
Renold plunges after profit warning
Renold, the chains and power transmission specialist, warned that full year profits would be 13% lower than last year after sales in recent months were hit by weakness in many of its end markets.
French industrial production down sharply in December
Industrial activity in France fell sharply at the end of last year, with weakness widespread across all sectors.
Asia report: Japan stocks hit lowest level since 2014
Stocks in Japan hit their lowest levels since 2014 on Wednesday, as investors in the region remained worried about the Federal Reserve's interest rate plans, and the general health of the global banking sector.
Milestone payday for Vectura on new asthma therapy
Vectura Group's inhaler and formulation technology received a boost on Wednesday, with the completion of a significant milestone on the development of the VR315 product.
Victrex remains confident despite tough trading in first quarter
Tough trading conditions were proving a challenge for Victrex in its first quarter, although the company said in a trading statement that it remained confident in its longer term prospects.
Greene King's third quarter sales boosted by festive season
Greene King has posted a strong third quarter book, boosted by strong Christmas sales.
Great Portland Estates enters 2016 in strong position
Great Portland Estates remained in a strong position heading into the new year, with the real estate investment trust updating the market on its activities in the three months to 31 December on Wednesday.
London open: Stocks gain ahead of Yellen's testimony
UK stocks rose on Wednesday as investors brushed off concerns about the health of the world's economy and the state of the banking system.