Market Pulse
US pre-open: Futures lower ahead of August CPI reading
Wall Street futures were in the red ahead of the bell on Wednesday as market participants prepped for last month's consumer inflation report.
Costain slumps as ASGC dumps entire stake in placing
Costain slumped on Wednesday after Dubai-based Al Shafar General Contracting Company (ASGC) exited its investment in the construction company in a placing of just over 41. 6 million shares to institutional investors.
London midday: FTSE touch higher as UK economy stagnates
London stocks were still just a touch firmer by midday on Wednesday as data showed the UK economy continued to stagnate in July.
Revenue rises, losses narrow for Silverbullet
Silverbullet, a provider of AI-driven digital transformation services, reported first-half revenue of £4. 4m on Wednesday, a modest increase from £4. 2m in the same period last year.
Abu Dhabi National Oil expected to make formal offer for Covestro
Abu Dhabi National Oil Company was expected to make a formal offer to acquire German plastic and chemicals manufacturer Covestro for approximately €14. 4bn including debt, according to the Financial Times.
Energean reports record first half, narrows full-year outlook
Energean announced record first-half financial and operational results on Wednesday, driven by the start-up of the Karish North field and the completion of the second gas export riser in Israel.
Asia report: Stocks slip as investors digest local data, US debate
Asia-Pacific markets took a downturn on Wednesday, with Japan's Nikkei 225 leading losses in the region, after the first debate between US presidential candidates Kamala Harris and Donald Trump overnight.
Hornby sales, profits ‘slightly behind’ internal forecasts due to shipping delays
Model train set maker Hornby fell on Wednesday as it reported a jump in sales and profits but said its performance was below internal forecasts due to shipping delays.
Anglo American raises ZAR 7.2bn via accelerated bookbuild
Mining giant Anglo American has raised ZAR 7. 2bn (£308. 03m) after an accelerated bookbuild saw it offer up 13. 94m ordinary shares at a price of ZAR 515. 0p per share.
AB Foods extends share buyback by £100m
Primark owner Associated British Foods announced an extension of its share repurchase programme on Wednesday, with an additional £100m allocated for the buyback.
Commerzbank surges as UniCredit takes 9% stake
Commerzbank surged on Wednesday after Italy’s UniCredit built a 9% stake in the German lender.
Heathrow sets new monthly record for passenger numbers in August
British airport Heathrow said on Wednesday that it had set a new monthly record for passenger numbers in August, with 7. 97m people passing through its gates last month.
Firstgroup names Lena Wilson as chair
Public transport business Firstgroup has tapped Lena Wilson to take over as chair, with effect from 1 February 2025.
London open: Stocks nudge up as investors mull UK GDP figures
London stocks nudged higher in early trade on Wednesday as data showed the UK economy continued to stagnate in July.
Trustpilot beats first-half expectations, launches new share buyback
Trustpilot Group reported a strong first-half performance on Wednesday, surpassing market expectations in a number of areas.
GSK's herpes vaccine candidate fails to meet primary efficacy objective
Drugmaker GSK said on Wednesday that primary objective data analysts from a phase II trial of its early-stage therapeutic herpes simplex virus vaccine candidate showed that the drug had failed to meet its primary efficacy objective.
Dunelm FY profit, sales rise despite 'softer' market
Homeware retailer Dunelm reported a rise in full-year profit and sales on Wednesday despite a "softer" market.
UK economy continues to flatline in July
The UK economy continued to stagnate in July, according to figures released on Wednesday by the Office for National Statistics.
London pre-open: Stocks seen down as UK economy continues to stagnate
London stocks were set to fall at the open on Wednesday as data showed the UK economy continued to stagnate in July.
Wednesday newspaper round-up: Port Talbot, Amazon, Tripadvisor
The British steel industry is braced for 2,500 job cuts at the Port Talbot steelworks, with thousands more jobs at risk in the UK, as the government prepares a taxpayer-backed deal for the south Wales plant. The business secretary, Jonathan Reynolds, is expected to outline on Wednesday details of a rescue deal which will see the government hand the historic Welsh plant’s owners, Tata Steel, £500m to build a new electric furnace – but at the cost of huge redundancies from the closure of its last remaining blast furnace.