Market Pulse
Commodities: US oil production to fall sharply in 2017, DoE says
The commodities complex was awash in green on Wednesday as energy futures moved into positive territory late in the afternoon on the back of the latest weekly US oil inventory data and gloomy projections from the Department of Energy.
US close: Stocks end higher as oil prices rally
US stocks ended higher on Wednesday as oil prices rebounded from earlier lows.
FX round-up: US dollar higher against majors
The greenback strengthened against the majors on Wednesday, ahead of the European Central Bank’s policy meeting the next day, even while slipping against most commodity currencies.
Director dealings: Hikma gets shot in the arm as chief tops up
Hikma Pharmaceuticals's chief Said Darwazah boosted his stake in the generic drugs firm on Wednesday to 5. 49% through the acquisition of 30,000 shares at an individual price of 2,271p.
Market overview: Late rally in oil futures boosts Footsie
1630:Close The UK's top flight index sprinted back into the green in the last hour of trading, boosted by a rally in crude oil futures in the wake of the latest oil inventory numbers in the US and after the DoE forecast a large drop in America's oil output next year. Banks and homebuilders did well too, especially StanChart with its well-documented exposure to the mining sector. Nonetheless, and on a more ominous note, ex-BoE chief Sir Mervyn King chided governments for not doing enough with the time central banks had bought them.
Schneider Electric: Big data eases economic downturn impact on GCC petchems
By Ghassan Barghouth, Vice President, Middle East, Schneider Electric.
Europe close: Rebound in oil prices and gains for banks push stocks higher
European stocks continued their upward march on Wednesday, led by gains in bank and basic resource stocks amid mostly well-received corporate news, helped along by a rebound in oil prices in the final hour of trading.
Miners and banks pace gains
Miners led on the upside throughout much of the session as some brokers weighed in with relatively upbeat assessments of the current market backdrop for the sector and industrial metals prices’ continued their push higher.
London close: FTSE ends higher as oil prices rebound
The FTSE 100 ended higher on Wednesday as oil prices rebounded and investors dusted off disappointing UK labour market data.
US open: Stocks fall as oil prices decline
US stocks declined on Wednesday after oil prices fell and earnings from Coca-Cola disappointed.
Thursday preview: ECB policy decision, Sky reports third quarter
The European Central Bank announces its latest policy decision on Thursday after introducing a raft of new measures in March to address prolonged low inflation and a stagnant economic recovery.
Wednesday broker round-up
Zoopla: Exane BNP Paribas reiterates neutral with a target price of 270p and Canaccord upgrades to buy with a 330p target.
BoE's McCafferty cautions he may quickly revert to hawkishness
One of the foremost ‘hawks’ at the Bank of England cautioned that his newfound ‘dovishness’ might be quickly undone if the external factors weighing down on inflation lifted or if the pound remained too low for too long, threatening to filter through into the wage-setting process.
US existing home sales surge 5.1% in March
Sales of existing US homes rose 5. 1% in March to a seasonally-adjusted annual rate of 5. 33m from a downwardly-revised 5. 07m the previous month, according to data from the National Association of Realtors.
UK unemployment rises for first time since mid-2015
UK unemployment rose for the first time since mid-2015 in the three months to February, official data showed on Wednesday.
April fall in Brazilian inflation opens door to rate cuts, analyst says
Increases in the cost of living in Brazil continued to decelerate in April, possibly opening the door to interest rate cuts by the central bank in the back half of 2016.
Credit Suisse starts Paddy Power Betfair at 'underperform'
Credit Suisse initiated coverage of Paddy Power Betfair at ‘underperform’ with a 8,650p price target, saying the merger benefits were being overplayed, with the cost synergies and scale failing to justify the share price.
Coca-Cola's first-quarter profit slips; strong dollar weighs
Beverage maker Coca-Cola posted a drop in first-quarter earnings as it took a hit from a stronger greenback and charges related to refranchising.
Google 'abused dominant position' with Android, says EC
Google was told it had breached European competition regulations on Wednesday, through its preferential treatment of its Android operating system on mobile applications.
Investec boosts target prices, bias towards miners
The slight improvement in China’s fundamentals did not justify in miners’ equity prices, Investec said, but recent events surrounding the sector nevertheless prompted the broker’s analysts to boost their target prices for many of the companies under their coverage and to move to a “mild positive bias”.