Thursday preview: UK GDP, Antofagasta results eyed
The UK corporate calendar will get a little busier on Thursday, with full-year results from Grosvenor Casinos owner Rank Group and first-half results from Chilean copper miner Antofagasta, Ladbrokes owner Entain and Savills.
Europe close: Shares fall as US inflation eases but rate hike risks linger
European shares closed lower on Wednesday as traders assessed an easing in US inflation and an attack on a cargo ship in the Red Sea by Iran-backed Houthi rebels that killed six people.
London close: FTSE nudges down; benign US inflation report in focus
London stocks ended just in the red on Wednesday, unmoved by a benign inflation report that increased the chances of the Federal Reserve leaving rates on hold next month.
Broker tips: Raspberry Pi, Tesco, Informa, Ocado
Analysts at Berenberg initiated coverage of Raspberry Pi with a 'hold' recommendation and 670p target price on Wednesday, saying the group’s long‑term growth potential was clear but balanced by structural risks, forecasting challenges and near‑term margin uncertainty.
Balfour Beatty sees FY ahead of expectations on strong demand, shares spark
Infrastructure construction group Balfour Beatty said full‑year performance is now expected to be slightly ahead of prior guidance, with the group forecasting low double‑digit profit from operations growth from its earnings‑based businesses and pointing to a £22. 9bn order book and strong growth markets underpinning a positive outlook.
Director dealings: Next director makes share purchase
Next revealed on Wednesday that independent non-executive director Jeni Mundy had acquired 160 ordinary shares in the FTSE 100-listed retailer.
US open: Stocks higher as inflation cools in July
Major indices opened higher on Wednesday as traders digested July's all-important inflation report.
FTSE 100 movers: Fresnillo shines; Tesco hit by ShoreCap downgrade
London’s FTSE 100 was down 0. 1% at 10,829. 66 in afternoon trade on Wednesday.
US headline CPI reading dips to 3.4pc in July
US inflation eased in July, with the headline consumer price index slipping to 3. 4% year‑on‑year, down from 3. 5% in June, as petrol prices fell, even as the economic impact of the conflict in Iran continued to filter through.
FTSE 250 movers: Ocado, Balfour Beatty soar; Raspberry Pi slips
FTSE 250 (MCX) 24,914. 40 0. 46%.
Shore Capital downgrades Tesco to ‘hold’, says it’s time to pause for breath
Shore Capital downgraded Tesco on Wednesday to ‘hold’ from ‘buy’ and suggested investors pause for breath.
Frasers putting 'finishing touches' to Harvey Nichols rescue deal - report
Mike Ashley’s Frasers Group is reportedly putting the finishing touches to a rescue deal for department store chain Harvey Nichols.
US mortgage applications rise 3.6pc
US mortgage applications rose 3. 6% in the week ended 7 August, according to the Mortgage Bankers Association, the strongest increase in two months and a rebound after two consecutive declines.
US pre-open: Futures rise as traders brace for July CPI release
Wall Street futures were in the green ahead of the open on Wednesday as traders looked ahead to July's all-important inflation report.
Tui Q3 profits drop amid softer demand, higher fuel costs
Travel firm Tui reported a fall in third-quarter operating profit on Wednesday as fuel costs rose and demand weakened due to geopolitical uncertainty.
London midday: FTSE nudges up as investors eye US inflation print
London stocks had nudged higher by midday on Wednesday, helped along by solid performances from housebuilders and miners, but gains were muted after fresh attacks on shipping in the Middle East and ahead of a key US inflation reading.
Europe midday: Shares higher ahead of US inflation data
European shares were higher on Wednesday as traders assessed an attack on a cargo ship in the Red Sea by Iran-backed Houthi rebels that killed six people and awaited key inflation data from the US.
Citi reiterates ‘buy’ on Informa, hails ‘resilient’ growth in B2B live events
Citi lifted its price target on Informa on Wednesday to 1,090p from 990p and reiterated its ‘buy’ rating as it said its positive view is underpinned by resilient growth in B2B live events, strong revenue visibility, and exposure to structural growth.
Berenberg starts Raspberry Pi at 'hold', citing mixed risk‑reward
Analysts at Berenberg initiated coverage of Raspberry Pi with a 'hold' recommendation and 670p target price on Wednesday, saying the group’s long‑term growth potential was clear but balanced by structural risks, forecasting challenges and near‑term margin uncertainty.
Asia report: Shares broadly higher ahead of US inflation data
Asian markets were mostly higher on Wednesday, with investors tracking firmer oil prices and awaiting key US inflation data due later in the day.