Market Pulse
Wednesday broker round-up
Standard Chartered: UBS reiterates neutral with a target price of 510p, JP Morgan stays at overweight, 725p target and Morgan Stanley keeps at underweight with a target price of 370p.
US services sector slows in February, first decline since 2013
Business activity in US services sector in February has contracted for the first time for since 2013, according to 'flash' Purchasing Managers’ Index data from Markit, which feared worse was to come.
Low oil prices affecting Suez canal
Canals were the latest industry to be affected by the downturn in oil, with new analysis from Port Overview suggesting the Suez was being particularly affected.
Summit Therapeutics hails strong C-difficile findings
Summit Therapeutics has reported that pre-clinical research into its treatment for the Clostridium difficile hospital superbug has found it to be a "novel and potent antibiotic".
US new home sales slump in January
Sales of new single-family homes in the US fell more than expected in January, official data published on Wednesday showed.
UBS sees limited read-through from Hugo Boss to Burberry
UBS´s upbeat view on luxury-goods maker Burberry was unmarred by a profit-warning from rival Hugo Boss in the previous session.
Thursday preview: Lloyds Banking Group's full year earnings in focus
Lloyds Banking Group is expected to report a sharp decline in full year profit on Thursday as the company sets aside further provisions for the mis-selling of payment protection insurance (PPI).
Ryanair backs UK remaining in EU
Ryanair has declared it is on the “remain” side of the Brexit debate, saying the UK needs to lead reform from within the European Union.
Institutional investors more confident on Asia and North America, State Street says
Volatility in financial markets in February centred on China and the knock-on impact of the drop in oil prices, but institutional investors were in fact looking elsewhere, according to State Street Associates.
Headwind from Brexit risks for Irish exporters likely to reverse, Investec says
Sterling should recover once the risk of Brexit was exorcised, but in the meantime it would create a headwind for Irish exporters, Investec said.
Grafenia warns on profits as turnaround takes effect
Grafenia has warned that full year results will be much worse than expected but that Peter Gunning has been appointed as chief executive on a permanent basis after making progress in the turnaround of printing and graphic design software company.
Tristel hikes dividend as interim profit rises 36%
AIM-listed Tristel lifted its dividend and reported a rise in first half profit and revenue as the company’s international expansion continues.
Chesapeake Energy bounces after announcing asset sales to stay afloat
US tight oil and natural gas producer Chesapeake Energy took an axe to its capital expenditure budget on Wednesday and announced asset sales in a bid to boost its financial liquidity and stay afloat in the face of the drastic fall in global oil prices.
US pre-open: Oil prices send futures sliding
US futures were set to slide again as investors take note of falling oil prices and turn away from the high-risk equity market.
White House tells Beijing Hawaii is not the South China Sea
Chinese foreign ministry spokesman Hua Chunying said on Wednesday that as far as his country was concerned, it was free to deploy what it wanted to a geo-politically sensitive region in the South China Sea because it believed their ownership was not under dispute.
Xiaomi fires warning shot at Apple, Samsung with Mi5
Apple and Samsung's stranglehold on the global smartphone market was fired a warning shot on Wednesday, as Xiaomi took the wraps off its next flagship - the Mi5.
UK retail sales fall more than expected, CBI survey finds
Retail sales slowed more than usual in February and expectations for the month ahead were the weakest for three years, the CBI’s latest quarterly Distributive Trades Survey found.
Wednesday newspaper share tips: BHP Billiton's welcome dividend policy
BHP Billiton’s new dividend policy is a welcome return of humility to the mining sector, The Times’ Tempus said on Wednesday.
Google's UK tax 'disproportionately small', says Public Accounts Committee
Britain's Public Accounts Committee said on Wednesday that HM Revenue & Customs should monitor the outcome of other tax authorities' investigations into Google, and re-open its settlement with the company if relevant new evidence becomes available.
London midday: Stocks slide amid Brexit fears, falling oil prices
London stocks were dragged lower on Wednesday by Brexit fears and a drop in oil prices.