Market Pulse
'We are significantly closer to neutral', Fed's Powell says
The US central bank cut rates as expected but policymakers indicated that they were now anticipating fewer reductions in 2025.
US close: Stocks sharply lower following Powell comments
Major indices closed sharply lower on Wednesday as market participants digested comments from Federal Reserve chairman Jerome Powell.
Broker tips: IAG, Dalata Hotels, OSB
Jefferies hiked its price target on BA and Iberia owner IAG on Wednesday to 350. 0p from 270. 0p saying it expects Q4 to deliver similar trends to Q3, driving confidence in the short-term macro and travel environment.
Merck in global license agreement with Hansoh Pharma for weight-loss drug
Merck said on Wednesday that it has signed an exclusive global licensee agreement with Chinese biopharmaceutical firm Hansoh Pharma for weight-loss drug HS-10535.
London close: Stocks firmer ahead of Fed decision
London stocks edged higher on Wednesday, buoyed an in-line UK inflation reading leading to hopes for steady monetary policy from the Bank of England.
Guardian Metal upbeat on due diligence for Tempiute Tungsten Mine
Nevada-focussed mineral explorer and developer Guardian Metal Resources updated the market on its due diligence for the Tempiute Tungsten Mine and Mill project on Wednesday.
Director dealings: Tracsis director snaps up shares
Tracsis revealed on Wednesday that non-executive director Tracy Sheedy had acquired 950 ordinary shares in the AIM-listed transport software provider.
Peel Hunt downgrades OSB Group, shares drop
OSB Group tumbled on Wednesday as Peel Hunt downgraded the shares to ‘hold’ from ‘add’ but lifted the price target to 414p from 395p.
Factory output falls at fastest rate since mid-2020 - CBI
Output volumes in the manufacturing sector fell in the quarter to December at the fastest pace since mid-2020, according to the latest Industrial Trends survey from the Confederation of British Industry.
Berenberg stays at 'buy' on Dalata Hotels
Analysts at Berenberg reiterated their 'buy' rating and 480. 0p target price on Dalata Hotels on Wednesday, stating the group was "ending the year on a high note".
US open: Stocks higher ahead of FOMC decision
Major indices were in the green early on Wednesday as market participants awaited the Federal Reserve's interest rate decision later in the session.
US building permits grow 6.2pc, housing starts unexpectedly decline
US building permits surged 6. 1% in November to a seasonally adjusted rate of 1. 50m, according to the Census Bureau, erasing October's 0. 4% decline and well and truly ahead of expectations for a print of 1. 43m.
FTSE 100 movers: IAG flies higher on broker note; National Grid falls
London’s FTSE 100 was flat at 8,193. 76 in afternoon trade on Wednesday.
US pre-open: Futures higher ahead of FOMC decision
Wall Street futures were in the green on Wednesday as market participants awaited the Federal Reserve's interest rate decision later in the session.
Artisanal Spirits on track to meet FY earnings guidance
Drinks maker The Artisanal Spirits Group said on Wednesday that it was on track to meet FY24 underlying earnings guidance despite "ongoing challenging trading conditions" in certain markets.
London midday: FTSE maintains gains after UK inflation, ahead of Fed
London stocks were still firmer by midday on Wednesday as in-line UK inflation data added to expectations the Bank of England will hold rates this week, and as investors eyed a policy announcement from the Federal Reserve.
Shoe Zone cites Budget changes as it warns on profits, shares tank
Shoe Zone warned on profits on Wednesday and said it would be forced to close some stores due to changes announced in the Budget, sending shares in the retailer tumbling.
Metals One announces drilling results from Rana Project
Metals One, a company advancing strategic mineral projects in Norway and Finland, announced positive drilling results from its Råna Project in Norway on Wednesday, operated by Kingsrose Mining.
Provexis announces purchase of additional Fruitflow inventory
Provexis, the developer and licensor of the ‘Fruitflow’ heart-health functional food ingredient, announced the purchase of additional Fruitflow II SD inventory from dsm-firmenich to meet growing demand on Wednesday.
Amazon reportedly settles with UK drivers over self-employment dispute
Amazon has reached a settlement with thousands of UK delivery drivers, it emerged on Wednesday, who claimed the company deprived them of fair compensation by misclassifying them as self-employed.