UK Gilt 10
Year Yield 1.4112%, Spot Gold $1237.75 -4.45 Brent Crude $40.17 +0.31
$ per £
1.4394
$ per €
1.1298
€ per £
1.2741
U.S.
stocks rose, with the S&P’s 500 Index posting a 2016 high, as Federal
Reserve Chair Janet Yellen signaled the central bank will be cautious on
further interest-rate increases in a nod to global risks.
Equities
saw the strongest gains since the conclusion of the last Fed meeting, when
policy makers reduced their outlook for rate increases this year, citing
negative developments overseas. The dollar repeated a post-Fed selloff, helping
commodity and industrial shares to reverse losses on speculation the weaker
currency will buoy earnings. The S&P 500 rose 0.9 percent to 2,055.01, the
highest since Dec. 30. The Dow Jones Industrial Average added 97.72 points, or
0.6 percent, to 17,633.11, wiping out a drop of more than 100 points. The
Nasdaq Composite Index increased 1.7 percent as Apple Inc. and Microsoft Corp.
rallied more than 2.1 percent. The Russell 2000 Index of small caps jumped 2.7
percent, the most in two months.
PRESS
COMMENTARY
Tata Steel
is set to pull out of all its UK operations, including Port Talbot, in a move
that could put thousands of jobs at risk, Guardian.
Janet
Yellen, has vowed to move with extreme care before tightening monetary policy
in the face of lingering global deflation and trouble in China.
Sports
Direct has upped its stake in Findel to nearly 30%, in the latest stage of its
battle to wrest control of the online specialist.
COMPANY
NEWS
Deutsche
Bank AG’s Paul Achleitner has won support to stay on as the firm’s supervisory
board chairman from one of its biggest investors, former Qatar Prime Minister
Sheikh Hamad bin Jassim bin Jabr Al Thani.
3M Co.
affirmed its 2016 sales and earnings outlook, but set targets for the five-year
period through 2020 slightly below its past five-year targets.
McCormick
& Co.Inc. raised its offer for the U.K.'s Premier Foods PLC to around 537
million pounds ($773 million). The 65 pence a share offer comes after Premier
Foods, whose brands include Mr. Kipling cakes and OXO stock cubes, rejected a
previous 60 pence a share offer.
Colgate-Palmolive
Inc. promoted two company veterans as part of a plan to line up an eventual
successor to Chief Executive Ian Cook, who has run the company for nine years.
UniCredit
in talks with Rome over €2bn mutual capital raising
EDF
Engineers Urge Delay of U.K. Nuclear Project: FT
Fidelity
Investments will charge annual fees of 0.35% to 0.39% for Fidelity Go, its
automated robo-investing service -- a price that makes the service roughly
competitive with offerings from Vanguard Group and other rivals.
Sports
Direct Raises Stake in Findel to 29.8%
NewRiver
Retail Ltd. (NRR.LN) said it is in advanced negotiations to buy the Broadway shopping
centre and Broadway Square in Bexleyheath town centre, London Borough of Bexley
for 120 million pounds ($172.76 million).
Sinclair
Pharma 1H Rev. Decline, Renegotiated Ellanse Mile stone
IMImobile
PLC (IMO.LN) Wednesday said it is trading in line with expectations, with
revenue and gross profit expected to have increased by around 25% and 20%
respectively in the year ending March 31. Source Quilter Cheviot
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