Market Pulse
Commodities: Precious metals regain their allure as Trump recovers in polls
Precious metals sparkled on Wednesday after increased uncertainty surrounding the outcome of the US elections weighed on the US dollar and risk-apettite more generally.
Europe close: Heightened US political uncertainty weighs on shares
European stocks ended the day lower as worries about the US presidential race crept in after a new poll revealed Republican candidate Donald Trump was in the lead and ahead of the Federal Reserve’s rate announcement.
Christie Finance secures £26m capital for acquisition plans
Christie Group, a leading provider of professional business services and stock and inventory systems, announced that its commercial finance broker has successfully arranged a finance package of £26m to fund future acquisitions.
Avacta announces collaboration with Memorial Sloan Kettering Cancer Center
Avacta Group announced a research collaboration with Memorial Sloan Kettering Cancer Center on Wednesday, to evaluate the use of the company's ‘Affimer’ technology in novel CAR-T cell-based immunotherapy.
Sound Energy reports better-than-expected flows at Tendrara
Europe and Africa-focused upstream gas company Sound Energy updated the market on Wednesday in relation to TE-7, its second well at the Tendrara licence area, onshore Eastern Morocco.
Director dealings: Venn Life Sciences chairman sees value
Venn Life Sciences chairman Allan Wood bought £50,000 worth of the contract clinical research provider's shares, it was revealed on Wednesday.
US open: Stocks slump as Trump leads polls, Fed policy decision looms
US markets slumped as a recent poll put Donald Trump ahead in the race for the White House, while the Federal Reserve is expected to hold out on raising interest rates at the central bank’s meeting on Wednesday.
FX round-up: US dollar slips as odds of Trump victory rise
Risk aversion picked-up ahead of the US central bank´s policy decision which was due out later in the day, following the results of various polls showing that the US presidential contest would be much more hotly-contested than financial markets had anticipated just a week before.
IAG to install wi-fi on shorthaul flights
British Airways and Iberia parent International Consolidated Airlines confirmed on Wednesday that it will install Inmarsat’s European Aviation Network high-speed, inflight passenger connectivity service on up to 341 of its shorthaul aircraft.
Indivior hikes profit guidance, records first antitrust charge
Indivior increased its full year revenue guidance to reflect faster growth in the USA and also recorded a $220m charge relating to antitrust litigation currently going through the courts.
Ford sales slide 11.7% in October
The second biggest car-maker in the US, Ford Motor, has reported a fall of 11. 7% in vehicle sales in October compared with the same period last year.
Investec downgrades William Hill and Ladbrokes Coral, rotates into online
Investec downgraded William Hill and Ladbrokes Coral as it rotated its chips on more digital-focused gambling stocks Playtech, 888 and GVC.
FTSE 250 movers: Indivior on the rise but punters ditch Ladbrokes
The FTSE 250 was down 0. 10% to 17,506. 64 in late afternoon trade.
Results round-up
Millennium & Copthorne reported a rise in profit in the third quarter as it benefited from a weaker sterling in the aftermath of the UK’s vote to leave the European Union.
Revolymer completes disposal of nicotine gum business
Revolymer announced on Wednesday that the divestment of its nicotine gum business to the Danish company Alkalon was now complete.
Ceres Power Holdings takes wraps off SteelCell 4
Ceres Power Holdings announced on Wednesday that the latest iteration of the SteelCell platform - version 4 - has been released to customers on time and on budget, which the board said reinforced its reputation for successfully executing against its ‘technology roadmap’.
Sector movers: Industrials, Mining jump
Smurfit Kappa drove General Industrials to the top of the leaderboard after reporting that revenues jumped 6% over the three months ending on 30 September, at constant currencies, as volumes increased 3%.
Abzena shares plunge as Gilead drops simtuzumab
Life sciences group Abzena noted on Wednesday that during Gilead Sciences’ announcement of third quarter earnings on 1 November, it stated that no further development of simtuzumab will be pursued.
FTSE 100 movers: Next rallies but StanChart sinks again
London’s FTSE 100 was down 1% to 6,850. 01 in afternoon trade.
Crude oil futures sent reeling as DoE data shows build in US oil stockpiles
US oil stockpiles jumped sharply over the latest week as imports shot up, sending futures reeling.