Market Pulse
Broker tips: Big Technologies, EasyJet, Kitwave
Analysts at Berenberg lowered their target price on technology platform operator Big Technologies from 155. 0p to 140. 0p on Wednesday but said it was more optimistic going into FY25 following a "tough" H1.
London close: Markets give up gains to finish lower
London stocks ended Wednesday's session in negative territory as the impact of recent Chinese stimulus measures waned.
Morrisons agrees £370m property deal - report
Supermarket chain Morrisons has reportedly struck a £370m deal to unlock value from its vast property portfolio as its owners seek to further shrink the company’s debt pile.
FTSE 100 movers: Flutter surges on buyback; Prudential dips
London’s FTSE 100 was down 0. 2% at 8,263. 04 in afternoon trade on Wednesday.
Director dealings: Anglo American non-executive director snaps up shares
Anglo American revealed on Wednesday that non-executive director Marcelo Bastos had acquired 1,200 ordinary shares in the FTSE 100-listed miner.
Berenberg lowers target price on Big Technologies
Analysts at Berenberg lowered their target price on technology platform operator Big Technologies from 155. 0p to 140. 0p on Wednesday but said it was more optimistic going into FY25 following a "tough" H1.
US open: Stocks mixed following record close for Dow
Wall Street stocks were early on Wednesday following the Dow Jones and S&P 500's record close in the previous session.
Flutter Entertainment announces $5bn buyback, shares surge
Flutter Entertainment surged on Wednesday as it announced a $5bn share buyback and said profits were expected to more than double by 2027.
Shield Therapeutics announces promising paediatric trial results
Shield Therapeutics announced promising results from its phase three paediatric clinical trial for ‘Accrufer’ and ‘Ferracru’, or ferric maltol, in treating iron deficiency anaemia (IDA) in children on Wednesday.
Canaccord Genuity raises target price on Kitwave following Creed Catering acquisition
Analysts at Canaccord Genuity hiked their target price on foodservice wholesaler Kitwave from 455. 0p to 495. 0p on Wednesday following the group's £70. 0m cash acquisition of Creed Catering Supplies.
Sainsbury’s sells cash machine business to NoteMachine
Sainsbury’s said on Wednesday that it was selling its ATM business to NoteMachine, a Brink’s Company and one of the UK’s leading ATM operators, for an undisclosed sum.
Oracle Power announces promising Northern Zone drilling results
Oracle Power announced promising drill results from its Northern Zone Intrusive Hosted Gold Project in Western Australia on Wednesday, revealing significant expansions to the mineralised footprint and confirming the presence of a substantial gold system.
US pre-open: Futures mixed following Dow's record close
Wall Street futures were mixed ahead of the bell on Wednesday following the Dow Jones' record close in the previous session.
Empire Metals starts environmental assessment at Pitfield
Empire Metals announced on Wednesday that it has started environmental impact assessment studies for its Pitfield Project in Western Australia.
Big Technologies reports weaker first half after loss of Colombia contract
Big Technologies reported a small decline in first-half revenue on Wednesday, with total income reaching £26. 5m, down 3% from £27. 3m in the same period last year, as it warned that full-year results would likely be at the lower end of market expectations.
Anglesey Mining raises £0.22m to support project development
Anglesey Mining announced a fundraising of £0. 22m on Wednesday, to support its ongoing development and operational strategy.
London midday: FTSE turns higher but gains unspectacular as China boost fades
London stocks had popped into the black by midday on Wednesday, with Rentokil leading the charge, but gains were unspectacular as the boost from China’s latest stimulus measures faded.
Gemfields flags lower first-half profits
Gemfields said in an update on Wednesday that it expected a first-half net profit after tax of $13. 7m, down from $18. 1m in the same period last year.
EasyJet flies higher as JPMorgan says it’s a 'high conviction' overweight
EasyJet flew higher on Wednesday as JPMorgan Cazenove highlighted the stock as "a high conviction" ‘overweight’ in the low-cost carrier space.
Andrews Sykes maintains expectations after some first-half difficulties
Andrews Sykes Group reported first-half revenue of £38. 4m in its half-year report on Wednesday, a slight decline from £38. 8m in the same period last year.