Market Pulse
Commodities: Oil futures jump despite mixed messages from Iran
Oil futures headed higher on Wednesday, following a pledge by major producers to freeze production although Iran’s stance remains far from clear.
Directors dealings: Peter Hargreaves contributes £1.2m to ITM Power offer
Three directors of ITM Power have contributed £2. 2m as the renewable fuel cells company completed a £5. 8m fundraising to support its current pipeline for builds and sales.
US close: Wall Street extends winning streak to third day
US stock markets enjoyed their first three-day winning streak in what has been a torrid 2016, as encouraging talks on freezing oil production mingled with Federal Reserve minutes that suggested no rate hike before June.
World's cheapest smartphone launches at just £2.50
The world's cheapest smartphone went on sale in India on Wednesday, costing the equivalent of a cheap cup of coffee in the City.
Sector Movers: Resource stocks rise on positive commodity market sentiment
Resource stocks registered substantial gains on Wednesday, following a positive session on the commodities market.
Market overview: Stocks ride gains in oil higher
1630:Close The Footsie popped back above the 6,000 point level on Wednesday as markets extended their recent bounce, with some technical analysts now fixated on the 1,950 point mark in the S&P 500 to gauge the staying power of the rally (or not). Of interest, strategists at Bank of America-Merrill Lynch said they now only expected two rate hikes from the US Fed in 2016, versus between three and four beforehand. Miners spearheaded gains on the top flight index, alongside emerging markets-focused Aberdeen Asset Management.
Europe close: Stocks extend bounce, ride gains in oil higher
European stocks continued pushing higher on Wednesday, as oil prices recovered and investors sifted through some well-received corporate news.
FX Roundup: Pound edges higher, commodity currencies reverse losses
The pound sterling edged higher on Wednesday following positive jobs data, while commodity linked currencies reversed earlier losses over afternoon trading in Europe.
Stephen Smith joins NetScientific board
NetScientific added a big name in the British medical industry to its board on Wednesday, announcing the appointment of Professor Stephen Smith as a non-executive director.
London close: FTSE finishes higher as traders weigh UK jobs data
The FTSE 100 finished higher on Wednesday after a recovery in oil prices and a mixed report on UK jobs.
Amazon reportedly in talks with former M&S womenswear boss to launch own fashion label
Amazon is reportedly in talks with former Marks & Spencer womenswear boss Frances Russell to help launch its own fashion label.
BofA Merrill cuts 2016 US interest rate forecasts
Analysts at Bank of America-Merrill Lynch revised down their forecasts for the number of Fed rate hikes they expected in 2016, adding that markets were exaggerating the risk of an economic recession Stateside.
Frontier Developments expands Elite Dangerous franchise
Gamers had something new to froth over on Wednesday, with a new release from Frontier Developments - Elite Dangerous: Arena.
FTSE 250 movers: Fidessa benefits from quiet reflection
The FTSE 250 was surpassing its blue chip brother by mid-afternoon on Wednesday, rising back over 2% above the 16,000 mark for the first time in two weeks.
Iran says Doha agreement is a positive first step, oil futures rise
Iran's Petroleum minister, Bijan Zangeneh, welcomed the agreement reached on the previous day by Russia, Saudi Arabia and two other members of the Organisation of Petroleum Exporting Countries in Doha, Qatar to freeze their output of crude oil at January's level, but refused to say whether the Central Asian country would do the same, according to Javier Blas, an energy correspondent at Bloomberg.
US open: Stocks gain ahead of Federal Reserve meeting minutes
US stocks advanced on Wednesday as oil prices rose and investors weighed mixed economic data.
Anglo American credit rating cut to junk by Fitch
Anglo American suffered the second downgrade to its credit rating this week, as Fitch Ratings cut it to junk.
US industrial production rises more than expected
US industrial production rose more than expected in January, according to data released by the Federal Reserve.
Market Tech buys King's Cross development site
Market Tech's growing portfolio of London real estate was set to expand on Wednesday, with the Camden Markets-owner acquiring the freehold of 101 Camley Street in the King's Cross area of the capital.
HSBC upgrades Electrocomponents, sees more value at Premier Farnell
HSBC upgraded Electrocomponents to 'buy' and reiterated the same recommendation on fellow electronic distributor Premier Farnell, though it acknowledged the trading environment will continue to be weak in the short run.