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Wednesday broker round-up
Virgin Money Holdings: RBC Capital Markets downgrades to underperform with a target price of 250p.
London midday: Stocks push higher ahead of US CPI; BoJo Brexit speech ingested
London equity markets had extended gains by midday on Wednesday, taking their cue from another positive close on Wall Street as investors looked ahead to key US inflation figures.
Virgin Money hit by RBC Capital downgrade, CYBG boosted by upgrade
Virgin Money took a hit on Wednesday as RBC Capital Markets downgraded the challenger bank to 'underperform' from 'outperform', slashing the price target to 250p from 350p as it took a look at UK banks.
Hurricane Energy closing in on early production system
Hurricane Energy announced a key milestone on Wednesday with the completion of buoy dry trial fit testing operations ahead of schedule.
Production starts at Iofina's latest plant
Iodine and halogen-based speciality chemical derivatives explorer and producer Iofina announced the completion of construction and the start of production at its IO#7 ‘IOsorb’ plant on Wednesday.
Europe midday: Stocks hold near highs, US CPI ahead
Stocks across the Continent are trading near their session highs ahead of a key report on consumer prices on the other side of the Pond later in the day.
Origin Enterprises set to lose chief financial officer
Origin Enterprises announced on Wednesday that chief financial officer Imelda Hurley has indicated her intention to step down from the board on 28 February.
Genel Energy ups resource estimates after new competent person's report
Kurdistan-focused oil and gas business Genel Energy updated investors on the status of its oil reserves on Wednesday after a competent persons report on its assets revealed a significant increase in oil resources at its Bina Bawi project.
Storm clouds on the horizon for Amazon as Walmart ups the ante
Walmart has announced plans to go head-to-head with Amazon, building its own internal cloud network to store almost limitless client information and manage sales.
Botswana Diamonds raises £500k in placing to fund exploration
AIM-listed Botswana Diamonds has raised £500,000 through the placing of new ordinary shares at 1p each to help fund ongoing diamond exploration in South Africa and Botswana and for additional working capital purposes.
US pre-open: Stocks to gain ahead of key inflation reading
US futures pointed to another positive session on Wall Street on Wednesday, although there was some potential for volatility with the release of the latest inflation figures due before the opening bell.
Benjamin Netanyahu hits back at Israeli police who recommended bribery charges
Benjamin Netanyahu has responded on Tuesday to police accusations of fraud, breach of trust and two instances of accepting bribes, saying he will not step down and is confident he won't face charges.
Kibo Mining signs memorandum of understanding with TANESCO
Coal exploration and development firm Kibo Mining announced on Wednesday that it had signed a memorandum of understanding with the Tanzania Electric Supply Company (TANESCO) that would see the latter purchase power from the former's 300MW Mbeya coal-to-power project in the African nation.
Midatech Pharma reports boost for US operations
International pharmaceutical company Midatech Pharma guided towards an increase in full-year US product sales of at least 29% on Wednesday, as expected.
Danone to cut stake in Yakult to 7%
Danone has announced plans to cut its holding in Japanese probiotic dairy drink maker Yakult to around 7% from 21. 3% in a move that reflects its "continued focus on disciplined capital allocation".
Trump blocked from ending DACA by second judge
President Donald Trump’s decision to end the DACA programme, which protects the children of illegal immigrants in the US from deportation, has been blocked by a second judge.
Russia eyes Saudi Aramco IPO investment
A Russian and Chinese joint investment fund, working in conjunction with several major Russian banks, has made moves to take part in the much awaited Saudi Aramco initial public offering, according to a sovereign Russian investment fund head.
Europe open: Stocks track gains in US despite drag from political uncertainty
Stocks are advancing across the Continent, drawing a degree of comfort from slight overnight gains on Wall Street after the new chief of the Federal Reserve said policymakers are keeping an eye on financial stability risks and ahead of a key report on consumer prices on the other side of the Pond later in the day.
Eurozone industrial production rises more than expected, Q4 GDP growth confirmed
Eurozone industrial production rose more than in expected in December, while gross domestic product growth for the fourth quarter was in line with expectations, according to data released by Eurostat on Wednesday.
Kurtis Hooley steps down as Nighthawk CFO
US-focussed oil development and production company Nighthawk Energy announced on Wednesday that Kurtis Hooley has tendered his resignation as its chief financial officer and corporate secretary, effective 16 March, in order to pursue a new opportunity.