Credit Suisse downgrades Softcat on valuation but says interims 'very strong'

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 interim profit rises, dividend lifted amid strong demand

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.

FTSE 250 movers: Sophos recovers; Softcat retreats on interims

London's FTSE 250 was down 0. 3% to 19,667. 54 in afternoon trade on Wednesday.

US house USA United States of America housing
US existing home sales rise more than expected in February

Sales of US existing homes rose more than expected in February, according to data from the National Association of Realtors.

ferguson wolseley
CS cuts Ferguson target on FX, reiterates 'outperform' on solid fundamentals

Credit Suisse cut its price target on plumbing and heating supplier Ferguson, formerly Wolseley, but kept its 'outperform' rating on the stock.

London Stock Exchange AIM LSE shares
FTSE 100 movers: Barclays gives LSE a boost; Kingfisher drops on results

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 downgrades Ocado to 'neutral' after outperformance

Goldman Sachs downgraded its stance on Ocado to 'neutral' and removed the stock from its Conviction List following "material" outperformance.

London Stock Exchange AIM LSE shares
London midday: Stocks fall further as sterling gains on accelerating wage growth

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.

jerome powell federal
US pre-open: Stocks seen flat to lower as investors eye Fed; Facebook weak again

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.

ScS interim revenue, earnings rise but recent trading hit by bad weather

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.

Mothercare, baby goods, retail
Mothercare rallies as it gets breathing space from lenders

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.

retail london oxfordst debenhams consumer westend spending
London open: Stocks slip on high street woe; UK jobs, Fed decision eyed

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.

Carpetright secures emergency loan, announces cash call and CVA

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.

Wednesday newspaper round-up: Carillion, Cambridge Analytica, Aviva

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 Stock Exchange AIM LSE shares
London pre-open: Stocks to edge up ahead of jobs data, Fed announcement

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.

20 Mar
ep ofertamichelinfenner
FTSE 250 movers: Fenner surges on Michelin deal; Sophos slumps again

London's FTSE 250 was up 0. 2% to 19,731. 40 in afternoon trade on Tuesday, with deal news providing a boost.

20 Mar
ep creuer tui discoveryportroses
FTSE 100 movers: TUI rallies on fleet expansion plans; Just Eat hit by MS note

London's FTSE 100 was up 0. 5% to 7,075. 83 in afternoon trade on Tuesday.

20 Mar
Adept4 CFO Ian Winn steps down

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.

20 Mar
mina, glencore
Glencore to buy Rio Tinto coal mine for $1.7bn

Glencore has agreed to buy Rio Tinto's 82% interest in the Hail Creek coal mine in Australia for $1. 7bn.

20 Mar
EasyHotel secures lease for 100-room Cambridge hotel

EasyHotel has signed a 25-year lease on a site in Cambridge for the development of a new purpose-built hotel.