US open: Stocks edge higher as traders digest firmer PCE inflation
US stocks opened slightly higher on Wednesday as traders digested a heavy slate of economic data, led by a firmer August PCE inflation print and further signs of cooling activity across housing, trade and inventories.
London close: FTSE ends on back foot as oil prices head north
London stocks closed in negative territory on Wednesday, giving up earlier gains, as oil prices once again pushed higher despite better-than-expected inflation data in the US.
Mattel chief executive to step down
The long-serving chief executive of Barbie-owner Mattel is stepping down, it was confirmed on Wednesday, to be replaced by Conde Nast head Roger Lynch.
Thursday preview: Nike results, UK manufacturing PMI due
On Thursday, quarterly results from Nike, Accenture, McCormick, Stolt-Nielsen and Acuity Brands will be in focus in the US.
Europe close: Stocks fall as inflation accelerates, oil prices rise
European stocks were in the red on Wednesday as inflation accelerated strongly across the region's three largest economies, while oil prices rebounded due to ongoing supply concerns in the Middle East.
Chicago PMI smashes forecasts to hit four-month high
Business activity across the greater Chicago metropolitan area increased at its fastest pace in four months in September, according to ISM-Chicago, rebounding after its first contraction of the year in August.
Broker tips: Kier, 3i Infrastructure
Analysts at Berenberg lifted their target price for Kier on Wednesday, raising it from 300p to 370p, as they reiterated that the contractor's evolving strategy and clearer medium‑term framework were being well received by the market.
Atlas Metals shares sink as H1 losses widen
The market value of Atlas Metals dropped by around a fifth on Wednesday after the mining and energy investment firm reported that operating losses quadrupled in the first half.
Director dealings: Sysgroup non-executive director raises stake
Sysgroup revealed on Wednesday that non-executive director Michael Fletcher had acquired 77,623 ordinary shares in the AIM-listed managed technology partner.
German inflation ticks higher as energy costs mount
German inflation is set to push higher in September, according to official forecasts published on Wednesday, as energy prices continued to soar.
Canaccord Genuity raises 3i Infrastructure to 'hold'
Canaccord Genuity upgraded 3i Infrastructure from 'sell' to 'hold' on Wednesday, saying the latest trading update pointed to solid progress in the first half and a stronger‑than‑expected outlook for net asset value.
FTSE 100 movers: Energy stocks slump, miners gain
London’s FTSE 100 was down 0. 1% at 10,621. 60 in afternoon trade on Wednesday.
US Q2 economic growth revised higher
US economic growth was revised higher in the second quarter, according to the Commerce Department, with GDP now estimated to have risen at an annualised 2. 2% pace, supported by firm consumer spending and continued business investment tied to AI‑related infrastructure.
Berenberg hikes Kier target price to 370p
Analysts at Berenberg lifted their target price for Kier on Wednesday, raising it from 300p to 370p, as they reiterated that the contractor's evolving strategy and clearer medium‑term framework were being well received by the market.
Tribunal rules against Tullow Oil in $196.5m tax dispute, shares tank
Shares in Tullow Oil plunged on Wednesday, after the London-listed firm lost a tax dispute with the Ghana tax authorities.
US private sector employment rises more than expected in September
Private sector employment in the US rose more than expected in September, according to figures released on Wednesday by ADP.
US PCE inflation strengthens in August amid solid consumer spending
US inflation firmed in August, with the personal consumption expenditures price index rising 0. 3% on the month and 3. 4% year‑on‑year, according to the Bureau of Economic Analysis.
Lords Group Trading scraps divi as H1 earnings slump, debt rises
Lords Group Trading was trading lower on Wednesday after swinging to a first-half loss as weak construction and plumbing markets weighed on profitability, while the company scrapped its interim dividend as debt levels rose.
US mortgage applications slump as interest rates climb
US mortgage applications fell sharply in the week ended 25 September as rising borrowing costs continued to weigh on demand, according to the Mortgage Bankers Association.