Market Pulse
Wednesday newspaper round-up: Retailers, Tata, Reckitt, BP
Many leading UK retailers have websites that require “serious attention” to make them safe against cyber attacks, according to new research that reveals how well stores are dealing with the rising threat from hackers and online criminals. Matalan faced particular criticism over its site’s ability to counter cyber attacks, while others including Waitrose, Tesco, Debenhams and Topshop also ranked poorly compared to other British retail companies. – Financial Times .
Rurelec extends bridging loan as Argentina adds to cash crunch
Rurelec has increased its short-term loan to provide more access to working cash for the power plant developer and its operations in Chile and Peru, after short-term cash generated by its Argentinian joint venture came in lower than expected.
US close: Dow hits five-month high on Beige Book wage news
The Dow Jones jumped to its highest close since early November, fuelled by oil remaining above $40 and improved wages news from the Federal Reserve's Beige Book.
Sector movers: Basic resource, bank stocks surge
A surge in basic resources and bank shares gave equity benchmarks around the world a leg up on Wednesday, following data out of the People’s Republic of China which showed exports rising at their fastest pace in over a year.
Bonds: Gilts rise after auction of long-term debt, Greece lags
These were the movements in some of the most widely followed longer-term sovereign bond yields:.
Commodities: Oil futures slide on Saudi comments, US inventory data
Oil futures stayed above the $40 per barrel mark on Wednesday, but the rally in play from the start of the week fizzled out on dire US crude inventory data and Saudi Arabia ruling out an output cut.
Gulf Intelligence: Oil Outlook - Top five drivers impacting crude prices in 2016
By Sean Evers, founder and managing partner of Gulf Intelligence.
Small caps news round-up
Keywords Studios expanded once again through an acquisition on Wednesday, swallowing upSynthesis for a maximum consideration of €18m. The AIM-traded international technical services provider to the videogames industry said Synthesis Group posted pro forma revenues of €16. 9m and profit before tax of €2m for the year to 31 December.
London close: Stocks bolstered by upbeat Chinese data
The FTSE 100 closed at its highest level so far this year on Wednesday after positive Chinese data eased worries about the slowdown in the world’s second largest economy.
Europe close: Basic resources lead markets higher
European stocks finished Wednesday healthily in the black, with basic resources among the leaders as investors were buoyed by stronger Chinese trade data.
BBA Aviation non-exec director makes first share purchase
Peter Ventress, a non-executive director at BBA Aviation, made his first share purchase, picking up 25,763 shares at 193. 06p each.
US open: Stocks gain after upbeat Chinese data
US stocks gained on Thursday after upbeat data on Chinese exports soothed fears about the nation’s economic slowdown.
Liberum initiates coverage of M&S, Dixons Carphone and Poundland
Liberum initiated coverage of seven consumer discretionary stocks on Wednesday, including Marks & Spencer, Dixons Carphone and Poundland.
Wednesday broker round-up
DCC: Exane BNP Paribas downgrades to neutral with a target price of 6200p.
Thursday preview: BoE expected to keep interest rates unchanged
The Bank of England is widely expected to keep interest rates unchanged for the 85th month in a row when it announces its latest policy decision on Thursday.
De La Rue lifts profit guidance after currency boost
Banknote printer De La Rue said it expects full year profits will be better than current forecasts as new management made progress with their five-year plan.
Wednesday newspaper share tips: Asos, Michael Page
It remains exceedingly difficult to value Asos’s share price in any rational manner, The Times’s Tempus said.
Peabody Energy files for bankruptcy
Coal producer Peabody Energy has filed for US bankruptcy protection as it looks to reduce its overall debt level, lower fixed charges and improve operating cash flow following a big drop in coal prices.
FTSE 100 movers: Miners rally on China data; Tesco slumps on outlook
London’s FTSE 100 index was up 1. 7% to 6,347. 98 in afternoon trade, with miners pacing the advance after better-than-expected Chinese trade figures.
Boots accused of abusing NHS scheme
Pharmacy chain Boots was accused of ripping off the National Health Service on Wednesday, by instructing staff to give patients ‘medicine use reviews’ (MURs), even if they don’t need them.