Market Pulse
Sidara's takeover deadline for Wood Group extended
Wood Group said on Wednesday that the deadline for Sidara to either announce a firm intention to make an offer or walk away has been extended as the Dubai-based engineering and consultancy firm needs more time for due diligence.
Broker tips: 3i Group, Diageo, Direct Line
Morgan Stanley downgraded 3i Group on Wednesday ‘equalweight’ from ‘overweight’ and cut the price target to 3,192p from 3,246p as it said the risk/reward is more balanced after a strong run.
London close: Stocks higher as investors digest US jobs data
London's stock markets closed on a positive note on Wednesday, buoyed by a wave of economic data from the United States and renewed hopes for interest rate cuts.
US services sector activity shrinks very sharply in June, ISM says
Services sector activity in the US slowed very sharply last month, a closely followed survey showed.
FTSE 100 movers: Airlines fly higher; JD Sports hit by downgrade
London’s FTSE 100 was up 0. 6% at 8,168. 32 in afternoon trade on Wednesday.
Director dealings: Time Finance CFO makes share purchase
Time Finance revealed on Wednesday that chief financial officer James Roberts had acquired 22,482 ordinary shares in the AIM-listed finance provider.
IntelliAM AI starts trading on AQSE
IntelliAM AI, a software company specialising in AI and machine learning for the manufacturing industry, announced the start of trading of its shares on the Aquis Stock Exchange Growth Market on Wednesday.
US job cut announcements drop again in June, Challenger says
Job cut announcements appeared to repeat the pattern observed in 2023, dropping quickly in June, the results of a closely followed survey revealed.
Quest Diagnostics to buy Canada’s LifeLabs for $985m
Quest Diagnostics said on Wednesday that it has agreed to buy LifeLabs, a Canadian provider of community laboratory tests, for about $985m including debt.
US open: Stocks slightly higher ahead of Independence Day break
Wall Street stocks were little changed early on Wednesday as traders prepared for the 4th of July break.
Serica completes reserves-based lending redetermination
Serica Energy announced on Wednesday that it has completed the first semi-annual redetermination under its $525m reserve-based lending (RBL) facility, increasing the borrowing base from $463m to the full committed amount of $525m.
Judges Scientific amends and extends multi-bank facilities
Judges Scientific, a group specialising in acquiring and developing companies in the scientific instrument sector, announced amendments and extensions to its multi-bank facilities with Lloyds Banking Group, Santander, and Bank of Ireland on Wednesday.
Fintel acquires Threesixty Services from Abrdn
Fintech and support services provider Fintel announced the completed acquisition of Threesixty Services from Abrdn on Wednesday.
US private sector adds fewer jobs than expected in June - ADP
Private sector employment in the US rose less than expected in June, according to figures released on Wednesday by ADP.
US jobless claims rise to 238,000
Americans lined up for unemployment benefits at an accelerated clip in the week ended 29 June, according to the Department of Labor.
Berenberg remains cautious on Direct Line
Analysts at Berenberg slightly lowered their target price on insurer Direct Line from 220. 0p to 215. 0p on Wednesday as it said the risk of the stock "disappointing" was now rising.
US pre-open: Futures little changed following yesterday's gains
Wall Street futures were little changed ahead of the bell on Wednesday as traders prepare for the 4th of July break.
London midday: FTSE maintains gains on US rate cut optimism
London stocks were still higher by midday on Wednesday as US rate cut hopes boosted sentiment.
Citi upgrades Diageo to ‘buy’, points to ‘cocktail of opportunities’
Citi upgraded Diageo to ‘buy’ on Wednesday and lifted the price target to 3,000p from 2,825p as it pointed to "a cocktail of opportunities".
Asia report: Markets mixed on China, Japan service sector data
Asia-Pacific markets saw mixed performances on Wednesday, as investors evaluated a variety of business activity data from the region.