Market Pulse
Commodities: Saudi Arabia not bent on flooding oil markets, reports say
Gains in energy and agricultural futures offset losses in metals, with the former boosted by reports that Saudi Arabia´s new energy minister would seek to mend fences with other producer countries at Thursday´s OPEC ministerial meeting.
US close: Stocks inch into green as Beige Book meets mixed data
US stocks inched higher on Wednesday as oil prices yo-yoed and the Federal Reserve's 'Beige Book' noted tight labor markets and growing price pressure.
Bonds: Gilts jump as investors remain cautious ahead of Brexit referendum
These were the movements in some of the most widely-followed 10-year sovereign bond yields:.
Miners, telecoms lead falls
Shares of telecommunications and mining outfits led fallers on the market at the start of June, as investors chose to take profits ahead of several key risk events scheduled over the next two days, including the outcome of the Organisation of the Petroleum Exporting Countries´s ministerial meeting the next day and Friday´s monthly US jobs report.
London close: FTSE ends lower as OECD cuts UK economic forecast
The FTSE 100 closed lower on Wednesday after the Organisation for Economic Co-operation and Development (OECD) cut its UK economic forecasts.
Global smartphone shipments to see an even sharper drop in 2016, IDC says
Shipments of smartphones globally were now expected to see an even sharper slowdown in 2016, led by outright falls in mature markets such as Japan and China, one of the industry´s top researchers said.
US open: Stocks fall as OECD lower US economic forecast
US stocks fell on Wednesday as oil prices dipped and the Organisation for Economic Co-operation and Development (OECD) lowered its US economic forecast.
Brazilian GDP falls by less than expected in the first quarter
Brazil´s economy continued to shrink at the start of the year with private consumption registering a steep drop, but some economists were optimistic that the worst may now lie behind.
US factory activity unexpectedly expands in May
Manufacturing activity in the US unexpectedly grew in May, according to data released on Wednesday.
Director dealings: Hostelworld's McCue dips in after warning
Hostelworld director Andy McCue, who joined the bargain rooms website just before its London flotation last October, has bedded down with the purchase of £45,400 shares after a weak trading update last week.
Markit's US manufacturing PMI shows weakest performance since 2009
Markit’s final US manufacturing purchasing managers’ index came in at 50. 7 in May, up from the flash estimate of 50. 5 but down from 50. 8 in April and pointing to the weakest performance since September 2009.
Credit Suisse wary of M&A expectations building at Royal Mail
Analysts at Credit Suisse hiked their target price on shares of Royal Mail based on their expectation that the firm´s management would be successful in finding the necessary efficiency gains to keep earnings flat.
FCA fines CT Capital over PPI complaints failures
The Financial Conduct Authority has fined CT Capital just under £2. 4m for “serious failings” in its historic payment protection insurance complaints handling processes.
Vertu Motors acquires five further outlets in Derby
Vertu Motors has acquired five outlets in Derbyshire for £18. 7m, including its first Toyota dealership and sixth with Land Rover.
Salesforce to buy Demandware for $2.8bn
San Francisco-based cloud computing company Salesforce has entered into a definitive agreement to acquire Demandware in a deal worth around $2. 8bn.
Brexit poll support hits sterling and stocks
A new Brexit poll showing parity between the Remain and Leave votes saw sterling slip further to a two week low on Wednesday, also hitting equities as housebuilding stocks led the fallers.
Europe midday: Stocks in the red; Fed, OPEC and ECB eyed
European stocks fell on Wednesday amid mixed Chinese data, a warning from the OECD, lower oil prices and caution ahead of some key events.
London midday: Stocks fall as OECD warns on Brexit risks
London stocks dropped on Wednesday as the Organisation for Economic Co-operation and Development (OECD) warned on the impact of a possible Brexit on the UK economy.
Xiaomi buys patents from Microsoft, agrees to carry software on smartphones
Chinese smartphone manufacturer Xiaomi has agreed to buy 1,500 patents from Microsoft, gaining some helpful intellectual property in return for carrying the US group's Office and Skype software on its devices.
Asia report: Mixed signals send markets lower
Most Asian markets ended Wednesday lower, with mixed signals coming from Chinese and Australian economic data.