Market Report
Broker tips: Just Eat, Sophos
Just Eat got a boost on Wednesday as RBC Capital Markets reiterated its 'top pick' on the stock, saying the shares should re-rate from here.
JP Morgan Cazenove hits Sophos with 'overweight' rating, hikes target
Analysts at JP Morgan Cazenove upgraded IT and security firm Sophos to 'overweight' from 'neutral' on Wednesday, stating that the group's equity narrative had "shifted positively".
Europe close: Stocks continue to push higher, Italian issues jump
Stocks on the Continent added to recent gains helped by another leg higher in euro area government bonds, especially for Italian ones, and as Wall Street continued to push higher.
London close: Stocks add to gains despite weakness in UK services
London stocks finished higher on Wednesday, with a weaker pound lending support even as investors mulled a trio of dismal UK PMIs.
Director dealings: TT Electronics director makes share purchase
TT Electronics revealed on Wednesday that non-executive director Anne Thorburn had acquired 45,000 ordinary shares in the electronic components manufacturer.
FTSE 250 movers: Funding Circle recovers, Diploma dips
London's FTSE 250 was flat, edging just 0. 01% higher to 19,637. 48 in afternoon trade on Tuesday, with Funding Circle leading the index higher.
US open: Trading kicks off with modest gains despite weak jobs data
Wall Street trading began on a positive note on Wednesday following the late rally seen during the previous session.
Sosandar slashes losses after revenue triples
Sosandar on Wednesday reported that it had slashed its annual losses after more than tripling revenues, though the fashion retailer's share price still slipped as its EBITDA loss failed to meet consensus expectations.
Andrea Orcel sues Santander for $113.0m after CEO offer rescinded
The former head of UBS's investment banking unit, Andrea Orcel, filed a $113. 0m lawsuit against Santander after it walked back on its agreement to name him as its new chief executive officer.
Flutter Entertainment surges on buyout speculation
Shares of Flutter Entertainment - formerly Paddy Power Betfair - surged on Wednesday, with traders pointing to speculation about a possible buyout.
RBC Capital reiterates 'top pick' on Just Eat, sees re-rating from here
Just Eat got a boost on Wednesday as RBC Capital Markets reiterated its 'top pick' on the stock, saying the shares should re-rate from here.
Economists optimistic despite dip in US services sector activity
Services sector activity in the States cooled a tad more quickly than anticipated last month, amid falling levels production, new orders and hiring.
FTSE 100 movers: Flutter flies higher; Sainsbury's dented by falling sales
London's FTSE 100 was up 0. 7% at 7,614. 36 in afternoon trade on Wednesday, with the pound weaker as investors mulled disappointing services data.
BT sees positive impact on earnings from IFRS 16
BT said on Wednesday that the adoption of the IFRS 16 accounting rules is expected to have a positive on its 2020 earnings.
Thor Mining outlines plans for Jervois Vanadium Project
Thor Mining advised the market of a plan to further advance exploration of, and assess potential development options for, the Jervois Vanadium Project in the Northern Territory of Australia on Wednesday.
Anglo African Oil receives commitments to raise £8.25m
Independent developer Anglo African Oil & Gas has received commitments to raise up to £8. 25m through the issuance of new ordinary shares at a price of 5. 2p each, it announced on Wednesday.
Arbuthnot acquires two UK mortgage portfolios
Arbuthnot Banking Group announced on Wednesday that its subsidiary, Arbuthnot Latham, has agreed the purchase of a residential mortgage portfolio for a cash consideration of about £258m, which would be subject to adjustment for the final loan balances at completion.
Rainbow Rare Earths to raise $5m to progress production growth
High-grade rare earth producer Rainbow Rare Earths announced a proposed placing by way of an accelerated bookbuild to raise a minimum of $5m net of expenses on Wednesday.
PureTech's Karuna Therapeutics closes $102.6m IPO
Biopharmaceutical company PureTech Health announced on Wednesday that its affiliate Karuna Therapeutics has closed of its initial public offering of 6,414,842 shares of common stock at a public offering price of $16. 00 per share.
Irene Dorner to succeed Kevin Beeston as Taylor Wimpey chair
Taylor Wimpey said on Wednesday that Irene Dorner will succeed Kevin Beeston as chair of the company when he steps down in February next year.