Market Pulse
US close: Stocks slide on oil slick as inventories swell
US stocks finished slightly lower on Wednesday as oil prices sagged and investors went through corporate earnings in the absence of economic data.
Rank and 888 continue to pursue triple-merger despite William Hill snub
Rank Group and 888 Holdings set out their case late on Wednesday for their joint merger proposal for William Hill, even though the bookmaker had the previous day dismissed the offer as too low and ill-conceived.
Oil futures slip on US inventory data, reports of higher output
Crude oil futures dropped following the release of better-than-expected weekly stockpile data Stateside and a raft of new reports pointing to higher global supplies.
Europe close: Stocks drift slightly lower on profit-taking
European stocks nudged lower on Wednesday amid weaker oil prices, with investors looking for fresh catalysts as the summer lull kicked in.
London close: Stocks rise as BoE to try again after QE shortfall
London stocks recovered on Wednesday as the Bank of England said it would try again after failing to reach its target for government bond purchases the day before.
Conroy Gold posts positive test results from Clontibret
Ireland and Finland-focused gold exploration and development company Conroy Gold and Natural Resources announced on Wednesday that an independent study by structural consultant Dr Francis Murphy has confirmed the continuity of the gold lodes at the company’s Clontibret gold target.
MX Oil taking full ownership of Nigeria project
Oil and gas investing company MX Oil updated the market on Nigerian oil and gas licence OML 113 on Wednesday, which it has been investing in through Jacka Resources Nigeria Holdings, which owns 100% of the licence holder PR Oil and Gas.
Operating profit more than doubles at Stock Spirits
Central and Eastern European branded spirits producer Stock Spirits Group announced its results for the six months to 30 June on Wednesday, with total revenue rising to €116m from €108m a year ago.
Directors dealings: Legal&General director picks up shares
Legal & General independent director Julia Wilson picked up 7,320 shares in the life insurer she helps run at a price of 206p each, for a total consideration of £15,084. 18.
Kibo Mining consolidates assets with Lake Victoria Gold
Tanzania-focused mineral exploration and development company Kibo Mining announced on Wednesday that it has signed a share purchase agreement, to effect the consolidation of the Imweru and Imwelo gold projects.
RTC Group turns around cashflow in first half
RTC Group announced its interim results for the six months to 30 June on Wednesday, with group revenue from continuing operations up 16% to £34. 1m, from £29. 5m a year ago.
Walt Disney beats quarterly forecasts, announces BAMTech acquisition
Walt Disney clocked in with double-digit growth in earnings per share for the latest three-month period thanks to a strong showing for its Studio Entertainment arm.
Eli Lilly´s second phase-3 trial for breast cancer drug fails to meet interim criteria
Eli Lilly´s second third-phase clinical trial, Monarch-2, for its breast cancer treatment Abemaciclib failed to meet interim efficacy criteria.
Trafalgar New Homes swings to profit
AIM-listed residential property developer Trafalgar New Homes swung to a profit in the year to the end of March.
BoE APF auction meets strong offer
The Bank of England´s reverse auction of £1. 17bn of Gilts netted it £5. 508bn-worth of offers, for an oversubscription ratio of 4. 71.
US open: Stocks struggle for direction as traders weigh earnings
US stocks were little changed on Wednesday as oil prices moved higher and investors sifted through corporate earnings in the absence of economic data.
Astrazeneca ups interest in Moderna Therapeutics with $140m investment
Astrazeneca has upped its equity interest in Moderna Therapeutics with a $140m investment as part of the biotechnology company’s preferred-stock financing.
Aviva property fund to be suspended for 6-8 months
Aviva has warned investors its property fund will remain suspended for at least six-to-eight months, after Brexit-induced concerns about property values led to a surge in redemptions.
Prospex raises cash, makes progress at Kolo
Prospex Oil and Gas updated the markets on its investment in the 1,150 sq km Kolo Licence, onshore Poland on Wednesday, where a well remains on track to be drilled on the Boleslaw conventional gas prospect in the fourth quarter of this year.
Morgan Stanley upgrades B&M, now willing to buy into company´s valuation
Analysts at Morgan Stanley upgraded their recommendation on shares of B&M European Value Retail, telling clients it was the "most structurally attactive" of the retailers which had floated on the London market in the last few years.