Market Pulse
Broker tips: On The Beach, Bellway
Canaccord Genuity lowered its target price on packaged holidays business On The Beach from 220. 0p to 187. 0p following the group's recent trading update.
London close: Stocks rise on fresh rate cut hopes
London's equity markets finished higher on Wednesday as investors reacted positively to a significant drop in UK inflation, which reached its lowest point in over three years.
Director dealings: THG CEO snaps up 20m shares
THG revealed on Wednesday that chief executive Matthew Moulding purchased 20. 4m ordinary shares in the London-listed ecommerce retailer.
Canaccord Genuity lowers target price on On The Beach
Canaccord Genuity lowered its target price on packaged holidays business On The Beach from 220. 0p to 187. 0p following the group's recent trading update.
US open: Dow Jones claws back some of yesterday's losses
Wall Street trading got off to a mixed start on Wednesday as the Dow Jones tried to claw back some of the heavy losses recorded in the previous session.
Eco Buildings receives first confirmed order under Egeu Stone contract
Modular housing company Eco Buildings Group announced on Wednesday that it has received its first confirmed order under its contract with Egeu Stone, marking a significant milestone.
Tertiary Minerals completes inaugural drilling at Mushima North
Tertiary Minerals announced on Wednesday that it has completed its inaugural drilling programme at the Mushima North Copper Project in Zambia.
US mortgage applications plummet by 17pc
US mortgage applications fell by 17% in the week ended 11 October, according to the Mortgage Bankers Association of America, extending the prior week's 5. 1% drop.
Image Scan finalises £3m UK defence contract
Image Scan announced the finalisation of a significant contract with UK defence contractor NP Aerospace on Wednesday, for the supply of its ‘ThreatScan’ portable x-ray system.
US pre-open: Futures little changed following heavy losses
Wall Street futures were little changed ahead of the bell on Wednesday following heavy losses in the previous session.
New ITM Power finance chief to start in early January
ITM Power confirmed on Wednesday that Amy Grey would assume the role of chief financial officer on 6 January, earlier than previously anticipated.
Vertu Motors revenue rises, profit slips in first half
Vertu Motors reported a resilient first-half performance on Wednesday, with revenue increasing 2. 9% to £2. 49bn, compared to £2. 42bn in the first six months of the 2024 financial year.
Hutchmed reports positive results from AstraZeneca lung cancer collaboration
Hutchmed China announced positive results from its Savannah phase two trial on Wednesday, which studied the combination of ‘Tagrisso’, or osimertinib, and ‘Orpathys’, or savolitinib, in treating patients with epidermal growth factor receptor-mutated (EGFRm) non-small cell lung cancer (NSCLC), who had high levels of MET overexpression or amplification and whose disease progressed after treatment with Tagrisso.
Berenberg raises target price on Bellway following FY24 earnings
Analysts at Berenberg raised their target price on housebuilder Bellway from 2,900. 0p to 3,200. 0p on Wednesday following the group's FY24 earnings a day earlier.
XPS Pensions upbeat on strong half-year trading
XPS Pensions reported strong trading for the six months ended 30 September on Wednesday, with revenue from continuing operations up 23% year-on-year.
Quilter flags strong third quarter
Quilter reported strong third quarter net inflows of £1. 4bn in an update on Wednesday, significantly outpacing the first and second quarter levels and marking record quarterly net inflows of £1. 5bn on its platform.
Asia report: Tech stocks lead most markets lower
Asia-Pacific markets faced broad declines on Wednesday, with Japan's Nikkei 225 leading the losses amid heightened investor caution.
Mony Group confident despite third-quarter revenue slip
Mony Group reported a 2% year-on-year decline in third-quarter revenue in a trading update on Wednesday, largely due to underperformance in its travel and home services divisions.
Oxford Instruments reports strong first-half demand
Oxford Instruments reported strong demand and order intake growth in a half-year trading update on Wednesday.
Norman Broadbent delivers 'resilient performance' in Q3
Professional services firm Norman Broadbent said on Wednesday that it had delivered a "resilient performance" in Q3, with September recording its highest net fee income so far this year.