Market Report
Morgan Stanley cuts target for Lloyds, sees RBS postponing share buybacks
Morgan Stanley slashed its target prices for several of the UK's largest lenders, as political uncertainty pushed out expectations for hikes in Bank Rate to the back half of 2020, which together with a flattening yield curve meant that consensus estimates for their net interest income were "too optimistic".
US close: Stocks record second straight day of gains
Stocks closed higher on Wednesday, extending the rally they initiated in the previous session as investors remained hopeful the Fed will lower interest rates before the end of the year.
Thursday preview: ECB, BoE's Carney in focus
The spotlight will continue to be very much on central bankers on Thursday, as the European Central Bank delivers its policy announcement.
Europe close: Stocks finish mostly higher, Italy lags
Stocks across the Continent finished slightly higher as the recent more dovish policy stance of central bankers in the US continued to percolate through financial markets, although analysts were cautious, not least given the uncertainty in Italy .
London close: Shares edge higher despite analysts' caution
London edged up on Wednesday, with sentiment underpinned by a more dovish stance from Federal Reserve chairman Jerome Powell the day before, even as investors digested the latest reading on activity in the UK services sector and analysts weighed in with cautious views on the outlook for shares.
Director dealings: Greencoat UK Wind director snaps up shares
Greencoat UK Wind revealed on Wednesday that non-executive director Dan Badger had acquired 75,188 ordinary shares in the FTSE 250-listed investment company.
ISM May services PMI points to firmer jobs growth in the US
Activity on the services side of the American economy held up a tad better than expected last month, according to the results of a key survey of the sector's health.
Goldman Sachs upgrades IMI to 'buy', says concerns 'overdone'
Analysts at Goldman Sachs upgraded its recommendation for shares of flow control specialist IMI to 'buy' on Wednesday, citing margin improvements and industry consolidation.
Sports Direct makes £51.9m offer for Game Digital after upping stake
Mike Ashley's Sports Direct has made a mandatory takeover offer of 30p a share for Game Digital after upping its stake in the video games retailer.
St James's Place ends Woodford mandate
St James's Place has ended its mandate with Woodford Investment Management.
FTSE 250 movers: Provident Financial soars, Saga slips
London's FTSE 250 was up 0. 69% at 19,139. 81 in afternoon trade on Wednesday, with Provident Financial leading the index higher.
Jaguar Land Rover and BMW announce collaboration on electric drive systems
Jaguar Land Rover and BMW Group confirmed on Wednesday that they are joining forces to develop next generation Electric Drive Units (EDUs) as part of a push in electrification technologies.
GameStop tumbles as it posts slump in Q1 sales, ditches dividend
GameStop shares tumbled on Wednesday after the US video games retailer said it was ditching its dividend following a slump in first-quarter sales.
European Commission calls for Italy to be sanctioned over debt pile
The European Commission has recommended that Italy be sanctioned for failing to tackle its soaring levels of public debt.
US open: Mixed start to trading as Wall Street attempts to extend Tuesday's rally
Wall Street trading began on a generally positive note on Wednesday, with stocks attempting to extend the rally they initiated on Tuesday.
FTSE 100 movers: Sage and Micro Focus rally; Hargreaves in the red again
London's FTSE 100 was steady at 7,215. 06 in afternoon trade on Wednesday as investors continued to mull the latest reading on the UK services sector and dovish comments from Federal Reserve chairman Jerome Powell.
US hiring stalls in May, ADP says
Hiring in the US hit a wall last month, according to the results of one of the most closely-followed surveys on the health of the US jobs market.
Findel profits rise, driven by Studio
Home shopping company Findel reported a jump in full-year profit and revenue on Wednesday, thanks in part to a solid performance form Studio, its online value retailer.
Conservative Party rules to reduce numbers in leadership race
The UK Conservative Party agreed rules on Tuesday for the leadership race to replace Prime Minister Theresa May that will see the number of candidates reduced.
Trump says global warming is 'change in weather' and claims US is clean
Donald Trump dismissed climate change as “a change in weather” just hours after holding serious talks on the issue with Prince Charles.