Market Report
Patisserie Holdings' woes worse than originally thought
Scandal-hit Patisserie Holdings, which discovered a £40m black hole in its accounts last year, said on Wednesday that it had discovered thousands of false entries into its ledgers and that its profitability was likely to be much lower than it originally estimated.
Thursday preview: US data, ABF in the spotlight
Investors will be eyeing another batch of key economic indicators in the States on Thursday, with the Philly Fed's regional manufacturing index at 1330 GMT perhaps the most interesting of the lot.
Director dealings: City Pub Group boss buys at 200-day moving average
City Pub chief, Clive Watson, added to his holdings in the firm, right as the stock peeped above its 200-day moving average following the release of the company's latest trading statement.
FTSE 250 movers: Metro Bank chugs upward while Hochschild fails to sparkle
London’s FTSE 250 was down 0. 18% at 18,463. 31 in afternoon trade on Wednesday, with Metro Bank and housebuilders driving the upward move.
US crude oil stockpiles shrink, but product inventories jump further
US crude oil inventories fell by more than was expected last week as net imports dropped, but product stockpiles continued to build rapidly, helped by another leg up in domestic oil production.
London close: Stocks finish on mixed note ahead of no confidence vote
London stocks finished on a mixed note on Wednesday as Theresa May faced a vote of no confidence, but in any case losses for the top flight index weren't too pronounced, thanks to a strong performance from the housebuilding sector and hopes of a Brexit delay.
Pound offers 'sizeable' potential from softer Brexit
The pound's reaction to Theresa May huge defeat in the meaningful vote on her Brexit deal was muted on Wednesday, with investors and analysts trying to decipher the political runes for the best way to make a buck.
Sector movers: Resources a drag, life insurers continue rally
London's blue chip stocks were dragged into the red by oil companies and miners, while life insurers and Brexit-sensitive sectors such as retailers and housebuilders were noticeable on the upside.
US open: Bank earnings boost Wall Street
US stocks are managing to eke out small gains on Wednesday on the back of better-than-expected bank earnings from the likes of Bank of America and Goldman Sachs and the latest Brexit news from across the pond.
FTSE 100 movers: Housebuilders boosted by Bovis update; Pearson marked lower
London's FTSE 100 was down 0. 5% to 6,862. 52 in afternoon trade on Wednesday as PM Theresa May braced for a vote of no-confidence in her government.
M&S to cut plastic from fruit and veg packaging
M&S said on Wednesday it will start to sell over 90 lines of loose fruit and vegetables in its latest move to produce sustainable plastic-less packaging.
Goldman Sachs posts jump in profits on merger-advisory, trading weak
Goldman Sachs posted a big jump in profits at the tail-end of 2018 despite lacklustre trading activity.
US housebuilder sentiment improves in January
Sentiment among US housebuilders unexpectedly improved in January, according to data released on Wednesday.
Facebook will have stricter ad rules in countries with elections in 2019
Facebook is set to make some of its political advertising rules stricter for countries that will hold important votes in 2019, reported Reuters on Wednesday.
Morgan Stanley upgrades Petrofac and Hunting
Morgan Stanley upgraded Petrofac and Hunting on Wednesday as part of a broader note on the oil services sector.
TechFinancials reaches agreement to sell MarketFinancials
Fintech software provider TechFinancials said on Wednesday that, further to its announcement on 1 March, it has entered into legally binding, conditional share purchase agreement with Cyprus-incorporated Proverial to sell its holdings in MarketFinancials.
Europe midday: Stocks rise as traders hope for best on Brexit
Stocks are trading slightly higher amid a relative dearth of news, albeit with analysts trying to make sense of the implications of Tuesday night's vote in the British Parliament, which saw the Prime Minister's Brexit plans rejected by over two thirds of lawmakers.
Serinus gas plant units finally depart Canada
Serinus Energy has confirmed that the ‘Low Temperature Separation’ (LTS) unit and the triethylene glycol (TEG) unit due for installation at its Moftinu gas plant in Romania have been loaded onto a freighter and have departed from Halifax, Canada, to Bremerhaven, Germany, it announced on Wednesday.
Official house prices fall for third successive month
UK house prices continued to subside toward the end of last year, according to the official Land Registry figures.
US pre-open: Stocks to eke out gains as bank earnings roll in
US stocks looked set to eke out small gains at the open on Wednesday as investors braced for more bank earnings and the latest Brexit news from across the pond.