Market Pulse
London close: Stocks finish higher as US inflation tops forecasts
London’s stock markets closed positively on Wednesday, as investors processed a higher-than-anticipated inflation report from the US, while Tesco paced the gains following favourable results.
Broker tips: AO World, Spirent Communications, RS Group
Shore Capital upgraded AO World on Wednesday to 'buy' from 'hold' as it said the online electricals company was "emerging as a capital-light cash compounder" within an industry it believes will "accommodate for margin recovery over the short term" and was at a volume trough versus the past ten years.
Director dealings: Roadside Real Estate chairman's wife snaps up shares
Roadside Real Estate revealed on Wednesday that chairman Charles Dickson's wife, Helen, had acquired 879,678 ordinary shares in the AIM-listed real estate business.
US open: Stocks lower following hotter-than-expected CPI print
Wall Street stocks were firmly in the red early on Wednesday as market participants digested a hotter-than-expected March consumer price index.
FTSE 100 movers: Tesco jumps on results; miners retreat
London’s FTSE 100 was down 0. 2% at 7,922. 95 in afternoon trade on Wednesday.
Ted Baker's US licensing partner said to be eyeing UK operations
Ted Baker's US licensing partner is reportedly a leading contender to take control of the fashion brand's British operation weeks after it collapsed into administration.
Canaccord Genuity raises target price on Spirent Communications
Analysts at Canaccord Genuity raised their target price on telecommunications testing company Spirent Communications from 175. 5p to 199. 0p on Wednesday following Keysight's recent cash offer.
Helium One Global reports progress at Rukwa Project
Tanzania-focussed helium explorer Helium One reported progress and updated on strategic initiatives at its Rukwa Project in an update on Wednesday.
Nexxen International repays $100m of debt
Connected TV advertising technology specialist Nexxen International said in an update on Wednesday that it repaid its outstanding debt under the secured term loan ‘A’ and the revolving credit facility on 9 April.
e-Therapeutics proposes £29m fundraising, delisting from AIM
RNAi medicines data and development specialist e-Therapeutics proposed a fundraise and its delisting from AIM on Wednesday.
Caledonia Mining reports rise in Blanket Mine gold production
Caledonia Mining reported a notable increase in gold production from its Blanket Mine in Zimbabwe for the first quarter of 2024 on Wednesday, despite a reduction in production days compared to the same period in 2023.
US pre-open: Stocks little changed ahead of CPI reading
Wall Street futures were little changed ahead of the bell as market participants awaited the release of March's all-important consumer price index later in the day.
London midday: Tesco paces gains as investors eye US inflation
London stocks were still in the black by midday on Wednesday, with Tesco pacing the gains after well-received results, as investors eyed the latest US inflation reading.
Epwin reports strong year despite market challenges
Energy-efficient and low-maintenance building products specialist Epwin Group said in its final results on Wednesday that, despite challenges posed by raw material cost inflation and market volatility, it delivered a strong performance, with revenue totalling £345. 4m and underlying operating profit reaching £25. 5m, marking a 19% increase over the prior year.
Enteq FY losses narrow
Energy services firm Enteq said on Wednesday that it had narrowed full-year losses as it continues tp focus on the development and commercialisation of its SABER Tool, whilst maintaining a lean overhead base.
Malvern International reports strong turnaround in 2023
Malvern International unveiled its preliminary results for 2023 on Wednesday, showcasing a notable turnaround in its business performance.
easyJet cabin crew secure 20pc rise in base pay
Cabin crew at low-cost airline easyJet are to receive a 20% increase in their basic pay, it was announced on Wednesday, after negotiations with the Unite union.
Mercia Asset Management reports record fund inflows
Mercia Asset Management released its trading summary for the financial year ended 31 March on Wednesday, with organic fund inflows surpassing £0. 5bn, marking a record and reflecting a 40% surge in third-party funds under management since the start of the financial year.
Asia report: Stocks mixed as RBNZ stands pat on rates
Asia-Pacific markets finished with a mixed performance on Wednesday, influenced by Japan's corporate inflation data for March and a rate decision from New Zealand's central bank.
Chamberlin Q3 underlying demand below management expectations
Castings and machining group Chamberlin said on Wednesday that underlying demand was below internal expectations during Q3, with lower than anticipated sales "negatively" affecting profitability and working capital.