Market Report
Berenberg raises target on First Derivatives, but expresses concern
Analysts at Berenberg raised their target price on consulting services firm First Derivatives from 2,100p to 2,750p on Wednesday, highlighting the group's "strong growth" despite having little cash to show for it.
JPMorgan Cazenove initiates coverage of Diploma, Electrocomponents
JPMorgan Cazenove initiated coverage of Diploma and Electrocomponents on Wednesday at ‘overweight’ and ‘neutral’, respectively, as it argued that both are "high-quality operators compared to most other distributors".
FTSE 250 movers: Galliford Try rallies again; Provident in the red
London’s FTSE 250 was down 1. 2% at 18,981. 12 in afternoon trade on Wednesday amid growing concerns about the Sino-US trade war.
Vectura trading in line, mulling capital returns
Vectura confirmed on Wednesday that its outlook remains in line with guidance for the full year as it said it was considering returning some capital to shareholders.
Ethiopian Air pilot warned of Boeing 737 Max dangers before crash
An Ethiopian Airlines pilot told senior managers of his concerns about Boeing 737 Max jets months before the fatal crash that claimed he lives of all 149 passengers and eight crew on board earlier in the year.
ECB's Rehn sounds unusually 'dovish' note
A top European Central Bank official, whose views typically lean towards the more 'hawkish' side of the policy spectrum, sounded an unusually 'dovish' note.
US refrains from labeling China a currency manipulator
The US Treasury Department passed on the chance of labeling China a currency manipulator on Tuesday.
Wednesday broker round-up
Serco: RBC Capital Markets upgrades to outperform with a target price of 150p.
Morgan Stanley sees further upside for Airbus ahead of likely XLR 321 launch
Analysts at Morgan Stanley revised their target price for shares of Airbus higher ahead of a likely spate of important milestones for the aerospace engineer over the next 12 months, including the possible launch of its single-aisle A321 XLR.
EPE Special Opportunities appoints Clive Spears as new chairman
EPE Special Opportunities appointed Clive Spears as its non-executive chairman, it announced on Wednesday, following the death of the previous chairman, Geoffrey Vero.
XLMedia shifting focus to higher-margin publishing
Digital performance marketing services provider XLMedia told shareholders on Wednesday that it was continuing to trade in line with management expectations, with a firm focus on increasing its exposure to higher margin publishing activities.
Asia report: Most markets lower as sentiment turns even more sour
Markets in Asia finished mostly in the red on Wednesday, after a poor showing on Wall Street overnight as investors continued to hold on to their wallets while waiting for developments on the US-China trade front.
US pre-open: Futures point to more losses amidst concerns over global growth
Wall Street futures were pointing to losses at the opening bell on Wednesday as ongoing trade tensions fed into concerns around the outlook for global growth.
Stobart swings to full-year loss but revenue rises
Southend airport owner Stobart Group said on Wednesday that it swung to a full-year loss, partly on the back of legal fees, but revenue rose thanks to an improvement in its two core operating businesses.
Telford Homes profit drops as it focuses on build to rent developments
Residential property developer Telford Homes posted a drop in full-year pre-tax profit on Wednesday as it increased its focus on lower margin build to rent developments.
Trade war could hit financial stability, warns ECB
The European Central Bank warned on Wednesday that weaker-than-expected growth and a possible escalation of trade tensions could trigger further falls in asset prices.
CMA launches investigation into NSF-Provident Financial deal
The Competition and Markets Authority has launched an investigation into whether Non-Standard Finance’s proposed £1. 3bn takeover of larger doorstep lender Provident Financial would lessen competition for consumers.
London midday: Stocks extend losses as ECB warns over trade war
London stocks had extended losses by midday on Wednesday as escalating trade tensions and a warning from the European Central Bank knocked investor sentiment.
Netcall product revenues impacted by NHS purchasing delays
Software provider Netcall expects full-year revenues and earnings to be impacted by purchasing delays within the NHS.
Spectra Systems' revenues top expectations
Authentication technology and software firm Spectra Systems told investors on Wednesday that it now expects full-year profits to exceed market expectations.