Market Pulse
Peel Hunt downgrades Kaz Minerals to 'hold'
Peel Hunt downgraded Kaz Minerals to ‘hold’ from ‘add’ after its third-quarter production report but upped the price target to 275p from 200p as it took a look at the copper sector.
Margins at risk as grocers stuggle to pass on food price inflation, SocGen warns
Marmite continues to captivate financial analysts, with a note from Societe Generale using the divisive yeast extract to warn about the risk of gross margin pressure among supermarket groups that has led to it cutting target prices for Tesco and Wm Morrison.
UK houses cost six times average earnings despite price growth slowdown
UK house price growth slowed in October but the typical home now costs six times the average annual wage, Nationwide said on Wednesday.
US pre-open: Stocks seen lower amid election jitters
US futures pointed to a weaker open on Wall Street 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.
Microsoft warns Google after public disclosure of Windows hacker faults
Tech giant Microsoft has taken a shot at Google after the search engine publicly disclosed news that its Windows personal computers were the subject of a hack, and that the flaws were not immediately fixable.
New broad patent strengthens Allergy Therapeutics portfolio
Vaccine-focused pharmaceutical company Allergy Therapeutics announced on Wednesday that the European Patent Office has granted a broad technology patent relating to the its unique microcrystalline tyrosine depot adjuvant manufacturing process.
Next cuts sales forecasts and costs to leave profits on track
Next trimmed its full year sales guidance after third quarter retail sales fell almost 6%, but thanks to cutting its cloth more severely it said profits would come in as expected.
Water Intelligence buys two Aussie companies for $434,000
AIM-listed Water Intelligence is to buy two Australian utility companies, which are the leak detection company's former franchisees, for $434,000 in order to expand its presence in the country.
Clinton officials rubbish poll which puts Trump ahead
Campaign representatives for Hillary Clinton have claimed that an ABC/Washington Post poll that has Donald Trump ahead by one point in the US presidential election is not accurate.
Persimmon encouraged by strong trading post-Brexit
Housebuilder Persimmon guided to higher full-year margins after 'encouraging' trading following the EU referendum but expressed caution about new land investment due to the uncertainty arisen since the vote.
UK rating could be downgraded if it doesn't get good Brexit deal, says Moody's
Moody’s warned on Wednesday that the UK’s sovereign rating could be downgraded if it is unable to protect core elements of its access to the European Single Market.
Construction activity remains 'solid', but Brexit and input prices drag
UK construction output in October was lifted to its highest level since March by continued solid housing activity, but the rate of growth slowed from the previous month.
Smurfit Kappa's Q3 revenue rises, on track to deliver record EBITDA
Ireland’s Smurfit Kappa reported that third quarter revenue increased, while the corrugated packaging company remains on track to deliver record earnings before interest, tax, depreciation and amortisation (EBITDA) for the year.
EasyHotel signs franchise deal for hotel in Reading
EasyHotel has signed a new franchise agreement for a hotel in Reading that will add 54 rooms to its network.
Shop prices little moved as retailers absorb sterling inflation, BRC-Nielsen says
Prices of goods in UK shops continued to fall in October, according to a survey of the retail industry published on Wednesday, as supermarkets absorb most of the early effects of the falling pound.
Wetherspoons fizzes in first quarter as Martin rails at EU 'hectoring'
Pub group JD Wetherspoon said its outlook for the full year remained unchanged after a first quarter in which like-for-like sales increased 3. 5% but dropped 2. 3% in the latter five weeks of the period.
Eurozone manufacturing PMI ticks higher in October
Markit’s final eurozone manufacturing purchasing managers’ index came in at 53. 5 in October, up from the flash estimate of 53. 3 and September’s reading of 52. 6.
HSBC upgrades EasyJet, Ryanair
HSBC upped its ratings on budget carriers EasyJet and Ryanair on Wednesday as it took a look at European airlines.
OneSavings Bank confident of net loan growth by end of 2016
OneSavings Bank said it was performing in line with expectations as it remains confident of achieving net loan growth by the end of the year.
London open: Stocks weaker amid US election worries, ahead of Fed
Stocks in London fell in early trade following downbeat sessions in the US and Asia, as jitters set in after a new poll revealed Republican candidate Donald Trump was in the lead in the US presidential race and ahead of the Federal Reserve’s rate announcement.