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Credit Suisse downgraded its stance on IT infrastructure products and services provider Softcat on Wednesday on valuation grounds, as it said the shares were "up with positive events".
Softcat, a provider of IT infrastructure products and services, reported a rise in interim operating profit on Wednesday as revenue grew and the company lifted its dividend by 14% amid strong customer demand.
London's FTSE 250 was down 0. 3% to 19,667. 54 in afternoon trade on Wednesday.
Sales of US existing homes rose more than expected in February, according to data from the National Association of Realtors.
Credit Suisse cut its price target on plumbing and heating supplier Ferguson, formerly Wolseley, but kept its 'outperform' rating on the stock.
London's FTSE 100 was down 0. 5% to 7,025. 71 in afternoon trade on Wednesday as investors digested the latest UK jobs data and eyed the Fed's rate announcement after the close.
Goldman Sachs downgraded its stance on Ocado to 'neutral' and removed the stock from its Conviction List following "material" outperformance.
London stocks had extended losses by midday on Wednesday as the pound gained ground after UK wage growth was shown to have accelerated more than expected at the start of the year, while a slew of updates from retailers meant the high street was very much in focus.
US futures pointed to a flat to slightly lower open on Wall Street on Wednesday as investors awaited the latest policy announcement from the Federal Reserve.
Furniture and flooring retailer ScS reported a jump in interim revenue and earnings on Wednesday but warned that recent trading has been hit by adverse weather.
Shares in Mothercare rallied on Wednesday as the baby and toddler chain got some much-needed breathing space after its lenders agreed to defer the testing of its financial covenants due on 24 March.
As equity markets in London edged lower at Wednesday's open, it was all about the high street following full-year numbers from B&Q owner Kingfisher, a profit warning from menswear specialist Moss Bros and updates from Carpetright, SCS and Mothercare.
Floor coverings retailer Carpetright said on Wednesday that it has secured an emergency loan from one of its biggest shareholders as it announced a cash call and said it is looking at a company voluntary arrangement to cut rents and close stores.
Partners from PricewaterhouseCoopers will be questioned by the work and pensions committee on Wednesday about the accounting firm’s role in the collapse of Carillion, with PwC accused of attempting to “milk the Carillion cow dry”. The committee said the correspondence between the Pensions Regulator and Carillion exposed the regulator’s weak position and the key role played by PwC. Most of the regulator’s negotiations were conducted via PwC, which advised Carillion’s directors on managing their pensions liabilities from 2012 to 2017.
London stocks were set to edge higher at the open on Wednesday as investors eyed key UK jobs data and the latest policy announcement from the Federal Reserve.
London's FTSE 250 was up 0. 2% to 19,731. 40 in afternoon trade on Tuesday, with deal news providing a boost.
London's FTSE 100 was up 0. 5% to 7,075. 83 in afternoon trade on Tuesday.
AIM-listed Adept4, a provider of IT as a service, said on Tuesday that Ian Winn has stepped down as chief financial officer and M&A director with immediate effect to pursue other interests.
Glencore has agreed to buy Rio Tinto's 82% interest in the Hail Creek coal mine in Australia for $1. 7bn.
EasyHotel has signed a 25-year lease on a site in Cambridge for the development of a new purpose-built hotel.