Wednesday preview: UK wages, US Fed minutes and Lloyds strategy in focus

Wednesday is a big and busy day for macro news, with crucial UK labour market data, initial Eurozone purchasing managers' surveys and a closely watched set of FOMC minutes, plus corporate results from Lloyds Banking Group, Glencore and Barratt Developments.

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Market buzz: Lack of buyback 'may signal change' in HSBC strategy

1425: Britvic’s share price declined sharply post its first-quarter statement on 31 January and in absolute terms has fallen by 15% in the past month and closer to 20% peak to trough, notes analyst Phil Carroll at Shore Capital.

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Shore Capital upgrades Britvic to 'buy'

Britvic’s shares have fallen by 15% in the past month and Shore Capital now thinks the drink maker looks like a 'buy'.

Asda growth slows in fourth quarter, adding to Walmart disappointments

Asda, Britain's third-largest supermarket chain, grew sales in the fourth quarter but it was far from enough to help parent Wamart from reporting a disappointing profits over the key festive period.

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HSBC annual profit disappoints as CEO Gulliver says goodbye

HSBC’s annual profit fell short of expectations as Stuart Gulliver reported his final set of results as leader of the global bank.

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JPMorgan cuts Shire to 'neutral', says Neuro spin-off wouldn't create value

JPMorgan Cazenove downgraded specialty biopharmaceutical group Shire to 'neutral' from 'overweight' on Tuesday, slashing the price target to 3,600p from 5,000p.

European parliament wants special access for UK after Brexit, report says

The European Parliament wants the EU to soften its stance on Brexit and negotiate an agreement that would give the UK special access to the single market, according to a report.

Asia report: Markets lower as China remains on holiday

Markets in Asia finished Tuesday lower after another quiet session, with traders in mainland China, Taiwan and Vietnam remaining on holiday for the Lunar New Year, and US bourses closed during Monday’s session overnight for the President’s Day holiday.

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Rite Aid surges on Albertsons merger plan

Shares in drugstore chain Rite Aid surged in pre-market trade on Tuesday as it agreed for grocery chain Albertsons to buy the remainder of the company that isn't being sold to Walgreens Boots Alliance.

BB King
Bankruptcy fret: guitar-maker Gibson up to its neck in debt

Guitar manufacturer Gibson may be pushed into bankruptcy as a declining interest in rock music has led to an industry suffering from dire financial problems.

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One Media inks annual contract with 'major international music label'

Intellectual property group One Media has signed an annual contract with an unnamed "major international music label" for the use of its technical copyright analysis tool, a content discovery and policing software.

Tlou Energy share prices soar over 35% following material upgrade

Tlou Energy’s share prices jumped over 35% on Tuesday after it announced that its 2P and 3P coal bed methane (CBM) reserves have seen a material upgrade following assessment.

Havelock secures additonal funding for strategic and short-term agendas

Interior solutions provider Havelock Europa announced it had finalised an agreement to secure additional funding for the group at the same time it issued an update on its recently ended trading year on Tuesday.

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US pre-open: Stocks to move lower as bond yields rise

US futures pointed to a weaker open on Wall Street on Tuesday, with investors set to play catch-up with the losses seen across the pond a day earlier, amid rising bond yields.

Thor Mining hammers home advantage after tungsten deemed "critical" by US

Thor Mining announced on Tuesday that it plans to accelerate development of its Nevada-based tungsten mining project after the commodity was deemed "critical" by a US government agency.

houses london housing
The PRS REIT raises £250m to help fund massive housing pipeline

Closed-ended real estate investment trust, the PRS REIT, announced on Tuesday that it has successfully raised gross proceeds of £250m through a recent placing.

London midday: FTSE dragged lower as pound reacts to Brexit reports

London stocks had extended losses by midday on Tuesday, dragged lower as results from HSBC and BHP Billiton left investors disappointed.

Jeremy Corbyn
Melrose presses GKN offer as Corbyn ramps up political pressure

Melrose Industries pressed the case for its £7. 4bn bid for GKN as Jeremy Corbyn increased the political pressure over the turnaround company's proposed hostile takeover.

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Synectics posts top results in pearl anniversary year

Surveillance technology design, integration, control and management company Synectics reported its audited final results for the year ended 30 November on Tuesday, with revenue ahead slightly at £70. 1million, compared to £70. 9m in 2016.

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Lighthouse Group sees good growth in revenue and earnings

National financial adviser Lighthouse Group announced its final audited results for the year ended 31 December on Tuesday, with revenues up 13% to £54m.