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Thursday preview: BoE to lay groundwork for May hike, or not
Thursday should see the Bank of England make clear its intentions on a May interest rates hike, while investors will be able to fork through results from Halma, IG Group and Ted Baker.
Market buzz: FOMC, China tariffs in focus
1700:Close Stocks have finished the session a shade lower, weighed down by Sterling's move back towards its pre-referendum highs against the US dollar ahead of Thursday's MPC meeting. Buoying the pound was a stronger-than-expected print on average weekly earnings for January. Miners and Big Oil paced gains on the FTSE 350, with the latter benefitting for a large jump in crude futures after the US Department of Energy reported an unexpected decline in the country's oil inventories during the latest week.
US close: Markets slip after FOMC decision, Apple weighs on indices
Stocks slipped after the US central bank's decision to raise rates for a seventh time, dragged lower by a drop in Apple shares even as Treasury note yields fell back.
FOMC raises rates, two more hikes still seen in 2018
The US central bank tightened policy on Thursday, as expected, amid a modest upwards shift in policymakers' own expectations for the path of official interest rates in 2019 and 2020.
Bonds: 'Bull steepening' in Treasury yield curve after March FOMC
These were the movements in some of the most-widely followed 10-year sovereign bond yields: US: 2. 88% (-1bp) UK: 1. 53% (+4bp) Germany: 0. 59% (+1bp) France: 0. 83% (+0bp) Spain: 1. 34% (+3bp) Italy: 1. 93% (+4bp) Portugal: 1. 76% (+3bp) Greece: 4. 22% (+3bp) Japan: 0. 04% (+0bp).
March US FOMC - Analysts react
"We have long anticipated that the Fed would need to raise rates more rapidly over the next few years, a view now shared by Fed officials and other forecasters. What stands out now are our medium-term bearish views. Once the fiscal boost fades and job growth slows, we expect economic growth will fall below trend, prompting the Fed to begin cutting rates again in 2020, a strongly non-consensus call. " - Michael Pearce, Capital Economics.
Results round-up
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.
FX round-up: Cable moving back towards post-referendum highs after FOMC
The US dollar fell back sharply in the wake of the Federal Reserve's policy announcement, despite what some observers described as a more hawkish bias in the macroeconomic projections that the central bank published alongside chair Jerome Powell's press briefing.
Commodities: WTI moves back towards 52-week highs
Commodities saw nearly across-the-board gains on Wednesday, amid a large drop in the US dollar in the wake of the US central bank's policy announcement.
Uber ex-chief buys real estate company and plans to run it as CEO
Travis Kalanick, Uber's former chief executive, has found a new ride after exiting the ride-sharing company in June, acquiring a controlling stake in real estate company City Storage Systems for $150m.
Tech giants face higher taxes under new European Commission plans
Big technology companies like Facebook, Google and Amazon are facing an estimated $5bn increase in their tax-bill under new plans unveiled by the European Commission.
Europe close: Stocks end on mix note as traders play it safe ahead of Fed
Stocks on the Continent ended the session on a mixed note ahead of the US central bank's policy decision, with some traders rather wary of the possibility of further declines in shares given the recent volatility in global capital markets.
Broker tips: Softcat, Ferguson, Ocado
Credit Suisse downgraded its stance on IT infrastructure products and services provider Softcat on Wednesday on valuation grounds, saying the shares were "up with positive events".
Director dealings: Spire Healthcare director ups stake
Simon Rowlands, non-executive director of private healthcare provider Spire Healthcare, purchased 114,000 ordinary shares in the company on Wednesday, upping his stake to a total of 328,516 as a result.
Polypipe investor interest 'to remain elevated' - Deutsche Bank
Deutsche Bank reiterated its 'buy' rating on plumbing and drainage systems manufacturer Polypipe on Wednesday, saying the firm looked set to extend its track record of reliable delivery.
FastForward Innovations' shares higher as Nuuvera shareholders approve takeover
FastForward Innovations’ investee company Nuuvera Inc announced on Wednesday that its shareholders agreed “overwhelmingly” to a C$826m acquisition approach made by Aphria Inc.
Alba Mineral Resources strengthens team with petroleum geologist
Alba Mineral Resources announced the appointment of Feroz Sultan as a special advisor on oil and gas on Monday, in a move that the company said "further strengthens" its team.
Unions agree pay deal for NHS workers
Health unions have accepted a deal for 1. 3m NHS workers that will see pay rise by at least 6. 5% over three years.
London close: Stocks under pressure as pound extends gains
London stocks slipped 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.
Spain seeks assurances on Gibraltar before endorsing transition deal
The European Union’s plans to endorse a post-Brexit transition agreement may have encountered a last-minute stumbling block after Spain demanded the deal not undermine it in its talks with Gibraltar.