Market Report
Households to cough extra £1.5bn after tweak in green subsidy backfires
UK energy users will be forced to pay an extra £1. 5bn for their green energy over the next fifteen years due to a tweak of the government’s policy on green energy subsidies, the National Audit Office has warned.
US housing starts peak in April, economists say
A key gauge of housing market activity in the US turned down last month, although the details of the report were somewhat stronger, according to economists.
Goldman Sachs and Citi downgrade Evraz
Following the recent strong share price performance from Evraz, analysts at Goldman Sachs and Citi both saw fit to downgrade their ratings for the Russian steelmaker on Wednesday.
Zoetis to buy veterinary diagnostics group Abaxis for $2bn
US animal health company Zoetis Inc has agreed to buy veterinary diagnostics group Abaxis for $83 per share in cash, or around $2bn.
Thalassa buys back another 40,000 shares
Thalassa announced on Wednesday that, on 15 May, it purchased 40,000 of its shares at a price of 84p per share.
FastForward authorised as a closed-ended investment scheme in Guernsey
FastForward Innovations has been authorised as a closed-ended investment scheme by the Guernsey Financial Services Commission, it announced on Wednesday.
Augean makes moves to shutter Colt division
Specialist waste management company Augean updated the marker on its ongoing programme to optimise business units and turn around those that were underperforming on Wednesday.
Best of the Best ends year in line as it expands luxury prize catalogue
Luxury prize competition organiser Best of the Best updated the market on its trading on Wednesday, saying the 12 months ended 30 April had been “encouraging”, with profit before tax “comfortably” in line with management's expectations.
Mortgage Advice Bureau adds advisers and grows business, investors told
Investors in Mortgage Advice Bureau were told how adviser numbers had continued to grow on Wednesday, increasing to 1,116 advisers as at 11 May, as they gathered for the company’s annual general meeting.
Volex to buy cable harness manufacturer Silotec in EUR 18m deal
Cable assemblies supplier Volex announced the proposed acquisition of the business and assets of Silcotec Europe, a manufacturer and seller of cable harnesses, for a total consideration of up to €18. 1m on Wednesday.
Idorsia begins MODIFY study in patients with Fabry disease
Idorsia announced on Wednesday that the first patient has been enrolled in a registration study to investigate the effect of lucerastat as an oral monotherapy for the treatment of adult patients with genetically confirmed Fabry disease, irrespective of their genetic mutation type.
Optibiotix inks agreement with Indian drug maker
AIM-quoted life sciences business OptiBiotix has entered into a five-year agreement with Akums Drugs and Pharmaceuticals to exclusively manufacture and supply products containing its cholesterol and blood pressure reducing product, LPLDL, to the Indian market.
Seeing Machines extends Guardian agreement with Australian firm
AIM-quoted computer vision technologies firm Seeing Machines has significantly extended an agreement with Western Australia based distributor Connect Source to deliver a further 2,500 units of the company's fleet product, Guardian.
Europe midday: Italian stocks pummelled as draft (and dated) coalition agreement surfaces
Stocks on the Continent are trading little changed, although a weaker euro is helping to steady sentiment - outside of Italy - amid reports that Italy's main anti-establishment parties were or had been seeking to negotiation an 'opt-out' clause from the single currency area.
LoopUp to buy MeetingZone for £61.4m in cash
AIM-listed remote meetings company LoopUp Group has agreed to buy Warwick Holdco, the holding company for conferencing services provider MeetingZone, for £61. 4m in cash.
Asia report: Most markets fall on fresh North Korea concerns
Most markets in Asia were on the back foot at the end of Tuesday’s sessions, as traders digested fresh uncertainty over North Korea.
Marston's underlying profits bubble up, but writedowns hit bottom line
Marston's reported strong revenues throughout the first six months of the trading year, however, the pubs group swung to a statutory loss as a result of write-downs on its income statement.
London midday: Stocks flat as geopolitics weighs amid deluge of results
London stocks had flattened out by midday on Wednesday as investors weighed up solid updates from the likes of Burberry and Micro Focus and deal news for Paddy Power against geopolitical concerns.
US pre-open: Stocks seen muted amid geopolitical tensions; bond yields in focus
US futures pointed to a muted open on Wall Street on Wednesday as investors keep an eye on bond yields, with geopolitical concerns set to weigh on sentiment.
Premier Oil expects 'material' reduction in debt
Exploration and development firm Premier Oil is on track to deliver a "material" reduction in debt this year, thanks to its Catcher project finally reaching the promised 60,000 barrels per day and Brent crude prices hitting their three-year highs.