Market Report
Jefferies upgrades Kingfisher to 'buy', raises target price
Analysts at Jefferies upgraded home improvement products retailer Kingfisher (KGF) to 'buy' from its previous 'hold' rating on Wednesday, raising its target price from 310p to 400p along the way.
Europe close: German stocks give back gains amid political impasse
Stocks ended the session modestly lower as traders waited for the release of the minutes of the US Federal Reserve's last rate-setting meeting in the evening and monitored the news-flow out of Germany, amid speculation that a 'grand coalition' between Germany's two main political parties, the centre-right CDU/CSU and the Socialist SPD, may yet be possible.
Budget: Planning probe spooks builders, mixed reaction for stamp duty cut
A range of new housing policies were proposed by Chancellor Philip Hammond in his Budget statement, including more funds for smaller housebuilder, a probe into potential holding of land by major housebuilders and a stamp duty cut for first-time buyers.
Lebanon prime minister Hariri retracts resignation
Saad al-Hariri has revoked his resignation as Lebanon's prime minister, according to a local news report on Wednesday.
US open: Shares hold ground ahead of FOMC minutes
Wall Street is holding its ground following the record highs set the day before, albeit amid lighter than usual trading volumes ahead of the Thanksgiving Holiday on Thursday, with investors looking to the release of the minutes of the most recent meeting of the Federal Open Market Committee.
London close: Stocks higher on UK budget
Shares closed higher on Wednesday as investors sifted through corporate releases as well as the Autumn Budget.
FTSE 250 movers: Qinetiq boosted by Berenberg note as Thomas Cook tanks
The FTSE 250 index was up around 0. 50% on the day in which Chancellor Philip Hammond revealed his budget for the upcoming year.
Higher margins offset declining sales volumes at Cambria
Motor dealer Cambria Automobiles managed to successfully grow profit and revenue throughout the financial year, as per-unit profits counteracted a slide in sales volumes.
First production at Texas asset transforms Pantheon Resources into full-cycle energy and power business
Oil and gas exploration firm Pantheon Resources announced "another year of progress" in its full-year results on Wednesday, as it completed the transition from a pure-play exploration company to a full-cycle energy and power business.
Integrated Diagnostics revenue up 41% despite tighter margins
Egyptian-focused medical diagnostics firm Integrated Diagnostics (IDH) reported an unaudited net profit of EGP 283m for the first nine months of its trading year, as revenue "accelerated meaningfully" in the third quarter.
Cadence Minerals discovers 21m tonnes of resources at Yangibana project
Mineral resource investment and development company Cadence Minerals issued updates on its Yangibana and Pilbara rare earth projects in Australia, with work set to begin on extensive ferrocarbonite/ironstone veins that had previously been evaluated by drilling in the 1980s.
Eurozone consumer confidence jumps in November
Consumer confidence in the single currency bloc shot higher in November, according to the executive arm of the European Union.
Thursday preview: UK GDP, ECB minutes, results from Centrica, Cineworld, Severn Trent
Thursday's market volumes will be thinner as the US gets fatter on Thanksgiving, while the UK chews over the second reading for gross domestic product and likely further analysis of the Chancellor's Budget, while corporate results include Centrica, Severn Trent and Cineworld.
Budget: New tax breaks aim to revive North Sea oil and gas producers
Chancellor Philip Hammond has announced new tax breaks to encourage investment in North Sea oil and gas producers.
Budget: Hammond targets first-time buyers as growth forecasts are cut
Philip Hammond scrapped stamp duty on almost all first-time property purchases as he sought to inject good news into his Budget after a series of cuts to the outlook for the economy.
Treasury facing £300m phone bill after mobile network court challenge
The Treasury was facing the prospect of a rather expensive mobile phone bill on Wednesday, after a £300m appeal against a significant increase in annual license fees was upheld.
Gfinity losses widen as it invests in product
Esports entertainment business Gfinity saw revenue increase 64% to £2. 37m in the year to 30 June, it reported on Wednesday, with its loss before tax widening to £5. 3m from £3. 1m.
Rambler installs Scott Britton as manager at Ming Mine
Rambler Metals and Mining announced the appointment of Scott Britton as its new general manager at the Ming Copper-Gold Mine in Baie Verte, Newfoundland and Labrador, Canada on Wednesday.
Ferrum Crescent granted three-year extension at Toral
Europe-focussed lead-zinc explorer Ferrum Crescent announced on Wednesday that, following a formal application to the Director-General of Mines of the Province of Leόn, its exploration licence on the Toral lead-zinc project has been renewed for a further three-year term to November 2020.
Totally acquisition Vocare wins contract extension with NHS Vale of York
Out-of-hospital services provider Totally has been awarded a two year contract extension ‘in-principle’ to 31 March 2020 with NHS Vale of York Clinical Commissioning Group, it announced on Wednesday.