Market Pulse
US close: Stocks end in the black as oil rallies
US stocks ended higher as oil prices rallied, but gains were fairly muted overall as investors awaited the outcome of Thursday’s European Central Bank announcement.
Commodities: Oil, base metal futures resume upticks
Oil and base metal futures resumed upticks on Wednesday, after the previous rally came to an abrupt end overnight following disappointing data from China.
Interview: Red Hat CIO chalks data driven progress at open-source firm
Software makes the corporate world tick in the digital age and developing it is big business. The ‘open-source’ model, or collaborative software development from multiple, often unconnected sources, promotes a pooling of resources and a diverse design spectrum than any one company is capable of developing and sustaining over the long-term.
Bonds: Traders take position ahead of ECB meeting
These were the movements in some of the most widely-followed 10-year sovereign bond yields:.
Wednesday newspaper share tips: Grafton Group, John Laing Group
UK and Ireland-based construction materials group Grafton continues to build its margins and expand its international footprint, with the shares’ current valuation offering a “good” entry point, The Times’s Tempus said.
Europe close: Stocks edge higher ahead of Draghi
European stocks edged higher amid rising oil prices, as investors looked to Thursday’s European Central Bank meeting for fresh catalysts.
Director dealings: ITV's chairman elect forks out for shares
Ahead of his promotion to chairman, ITV non-executive director Peter Bazalgette has invested £350,000 in the broadcaster's shares.
FX Roundup: Commodity currencies rise as market awaits ECB meet
None of the major forex crosses dominated proceedings on Wednesday, although the dollar was a shade weaker ahead of European Central Bank’s Governing Council meeting on Thursday.
Small caps news round-up
Real Estate Investors was looking at the possibility of a combined West Bromwich development on Wednesday, announcing its intention to purchase the freehold of West Plaza on the high street from Bond Wolfe Estates for £8m. The AIM-traded real estate investment trust said the deal would be funded by cash from its existing resources and facilities. The property was valued at £8. 1m by GBR Phoenix Beard on 5 February, it confirmed.
Wednesday broker round-up
Worldpay: Jefferies reiterates buy with a target price of 340p and Goldman Sachs keeps at buy with a target price of 400p.
FTSE 100 movers: Burberry brought back to earth, Pru allays Asia worries
The FTSE 100 fell back into the red towards the end of Wednesday's session, having approached 6,200 in the early afternoon.
Vertu Motors puts brakes on shares with discounted placing
Fresh from its upbeat trading update, Vertu Motors has confirmed it aims to raise £35 million at a discounted fundraising to help fund acquisitions.
NIESR's UK GDP estimate slows but confident about Q1
UK economic growth slowed over the last three months, according to the National Institute of Economic and Social Research.
HSBC ups target on Burberry, but downgrades shares
A weaker sterling will add to Burberry’s growth on both the top-line and bottom-line, but the recent rebound in the share price was “unwarranted” HSBC said.
US open: Stocks rebound as oil prices rise ahead of key supply data
US stocks rebounded on Wednesday as oil prices gained ahead of a report on US crude inventories.
FTSE 250 movers: Investors lose appetite for Restaurant Group, but Cairn surges
London’s FTSE 250 index was down 0. 2% to 16,620. 44 at 1415 GMT, as investors digested better-than-expected data on manufacturing and industrial production.
UBS and Deutsche Bank lose bonus tax case
The UK Supreme Court has ruled that Deutsche Bank and UBS must pay taxes on bonuses paid to their investment bankers, in a case that goes back 12 years.
Citi expresses concern around UK water utilities' premium valuation
Analysts at Citi on Wednesday recommended investors turn off the tap, cautioning they were increasingly concerned about UK water utilities' premium valuation.
Sports Direct's Ashley faces jail if parliament face-off continues
Sports Direct boss Mike Ashley has been threatened with being found in contempt of parliament for his failure to agree to attend questioning by the business, innovation and skills (BIS) committee.
Prudential declares special dividend and puts Asia fears to bed
Final results from Prudential showed pre-tax profit falling short of expectations but a bumper dividend and reassuring words from chief executive Mike Wells on the outlook in the UK, US and Asia helped lift the shares on Wednesday morning.