Market Pulse
Frasers abandons pursuit of Mulberry, shares slump
Mike Ashley’s Frasers Group said on Wednesday that it was abandoning its pursuit of luxury handbag maker Mulberry.
London close: Stocks finish lower ahead of Budget, US election
London markets closed in negative territory on Wednesday as investor caution prevailed ahead of the upcoming Budget and amid ongoing uncertainty surrounding the US presidential election.
PRS Reit launches strategic review, could put itself up for sale
PRS Reit said on Wednesday that it was launching a strategic review that could lead to it putting itself up for sale as it looks to enhance value for shareholders.
US open: Stocks start on back foot as Boeing losses widen
Wall Street opened lower on Wednesday, with key indices reflecting cautious sentiment among investors amid a number of corporate earnings reports.
FTSE 250 movers: Hochschild shines; Volution hit by downgrade
London’s FTSE 250 was down 0. 5% at 20,839. 49 in afternoon trade on Wednesday.
Boeing losses deepen on machinist strike, programme charges
Boeing reported a significant widening of its losses in the third quarter on Wednesday, driven by a combination of work stoppages, higher costs, and programme charges.
FTSE 100 movers: WPP, Reckitt rally on results
London’s FTSE 100 was down 0. 5% at 8,267. 31 in afternoon trade on Wednesday.
Image Scan ends year in strong position
Image Scan reported a strong trading performance for the financial year just ended on Wednesday, with profits set to meet market expectations.
Cordel AI overhead measuring tech gets Network Rail approval
Cordel Group announced on Wednesday that Network Rail has granted approval for the use of its AI-powered technology to measure overhead line equipment (OLE) on electrified railway lines.
Coca-Cola sees FY organic sales at high end of guidance
Coca-Cola said on Wednesday that full-year organic sales were set to be at the high end of its previous guidance range.
Davy downgrades Volution to ‘neutral’
Davy downgraded its stance on Volution on Wednesday to ‘neutral’ from ‘outperform’.
WPP returns to growth in third quarter
Advertising giant WPP said on Wednesday that it returned to growth in the third quarter, as it reiterated its outlook for the year.
London midday: Stocks turn lower amid Budget jitters, US election uncertainty
London stocks had turned lower by midday on Wednesday as caution crept in ahead of next week’s Budget and amid uncertainty over the US election.
Heathrow ups full-year passenger forecasts after bumper summer
Heathrow Airport reported a 12. 6% increase in profit before tax to £696m for the first nine months of the year on Wednesday, driven by record passenger numbers during a bustling summer of sport and music.
US pre-open: Stocks seen lower ahead of Boeing, Tesla earnings
US futures pointed to a weaker open on Wall Street on Wednesday as investors eyed earnings from the likes of Boeing, Tesla and Coca-Cola.
BP Marsh upbeat on first-half performance
BP Marsh reported a strong first-half performance on Wednesday, achieving a total shareholder return of 12. 1% for the six months ended 31 July, driven by growth in net asset value and dividends paid in March, May and July.
Jefferies upgrades Ibstock, Forterra to ‘buy’
Jefferies upgraded both Ibstock and Forterra on Wednesday to ‘buy’ from ‘hold’ "given the current compelling demand-supply dynamic in the UK brick sector".
Asia report: Markets rise amid big IPOs in Tokyo, Hong Kong
Asian markets mostly rose on Tuesday, diverging from a lacklustre session on Wall Street.
CMA launches formal probe into Carlsberg's £3.3bn acquisition of Britivc
The Competition and Markets Authority said on Wednesday that it was launching a formal probe into Carlsberg’s £3. 3bn acquisition of Britvic.
Gem Diamonds reports solid quarter for operations, sales
Gem Diamonds reported a solid third quarter operational and sales performance on Wednesday, achieving higher sales volumes and revenue compared to the prior quarter.