Market Pulse
US close: Stocks rise for second day, bank stress tests mixed
US stocks strode higher for the second successive day on Wednesday as the initial panic of Brexit eased and investors sought bargains, while there was mostly top grades for banks in the Federal Reserve's stress-test results after the market closed.
MyLocal appoints administrators, further store sales expected
Collapsed convenience store chain MyLocal has appointed administrators from KPMG after closing 90 and selling two of its 125 stores and making hundred redundant, with several other sales close to completion.
Wednesday newspaper share tips: Redrow, Legal&General, Aviva
Unless we are heading for some sort of huge housing crisis, shares of many homebuilders are still attractive, with stock in Redrow being a particular case in point, while several others were on guaranteed dividend yields, The Times´s Tempus wrote.
US crude oil futures boosted by latest US weekly inventory data
US crude oil stockpiles fell sharply last week, albeit amid a large drop in imports, boosting prices for crude oil futures.
Life insurers, oil stocks boost indices
Life insurers jumped on Wednesday on the heels of positive broker comment and supportive remarks from some ex-officials regarding the fall-out, or not, for the sector as a result of Brexit.
Wednesday broker round-up
Petrofac: Jefferies upgrades to buy with a target price of 835p and Societe Generale stays at buy with a target price of 921p.
London close: Stocks close higher as investors push aside Brexit worries
The FTSE 100 closed higher on Wednesday as investors pushed Brexit worries aside for the time being and sought bargains.
BoE governor Mark Carney to give a speech on Thursday
The governor of the Bank of England (BoE) Mark Carney will give a speech on Thursday at 1500 BST at Threadneedle Street.
Apollo to take Diamond Resorts private through all-cash bid
Diamond Resorts agreed to be taken private in an all-cash transaction worth approximately $2. 2bn.
WPP invests in Russell Simmons' All Def Digital
Advertising group WPP has agreed to make a strategic investment in Los Angeles-based All Def Digital (ADD), a digital media company founded by hip-hop impresario Russell Simmons.
Telefonica takes O2 off the auction block, for now
Spain´s Telefonica decided to take its UK subsidiary O2 off the auction block, following Brussel´s decision to block its sale to rival Hutchinson Whampoa, until the storm in markets abated.
US open: Stocks gain as Brexit shock eases
US stocks gained on Wednesday as the initial panic of Brexit eased and investors sought bargains.
GE Capital sheds systemically important label
Regulators Stateside took GE Capital, General Electric´s finance arm, off their list of "systemically important" firms, potentially opening the way for the company to be able to increase its level of gearing.
US pending home sales drop more than expected in May
US pending home sales fell more than expected in May, according to data from the National Association of Realtors (NAR).
Director dealings: Crook adds to Provident holding after shares drop 20pct
Provident Financial chief executive Peter Crook spent £0. 57m on shares in the non-standard lender after they lost a fifth of their value in the fallout from the Brexit result.
UK stocks to stay in the main European equity benchmarks
The UK might leave the European Union but the country´s stocks would continue to be included in the main pan-European equity indices, two of the world´s main benchmark compilers said.
BofA ML upgrades Burberry on weak sterling, valuation
Fashion house Burberry racked up healthy gains on Wednesday as analysts suggested it would benefit from sterling weakness.
Shire eyes adult ADHD drug application in 2016 after encouraging results
Shire plans to resubmit a new drug application in the US for its potential treatment for adult attention-deficit/hyperactivity disorder (ADHD) after efficacy and safety trials produced positive results.
Brammer hits 14-year low after warning on profit, dividend and covenants
Industrial products distributor Brammer has warned it will be close to breaking its debt covenents and is reviewing whether to pay an interim dividend as profits for the year are likely to fall short of expectations.
Lloyds to cut 640 jobs and close 23 branches
Lloyds Banking Group is to cut about 640 jobs and close 23 branches as part of its programme to cut costs and restructure the bank.