US stocks closed sharply higher on Tuesday following the Dow Jones and S&P 500's worst daily showings since the Global Financial Crisis in the previous session.
All eyes on Wednesday will be on the Chancellor's budget for 2020 and what measures he may announce to help offset the near-term hit to the economy from the coronavirus.
Stocks on the Continent surrendered early gains amid reports of divisions in the US Congress regarding the need for stimulus measures to help the economy and signs that the oil price war between Russia and Saudi Arabia may just be starting to get underway.
Payments and foreign exchange platform Finablr was the worst performer on the second-tier index after UAE-focused hospital operator, NMC Health, disclosed, shortly before the close of trading, that its debt pile was nearer the $5bn mark and not the $2. 1bn that it reported on 30 June 2019.
NMC Health said on Tuesday that its debt was "materially" higher than previously reported.
TalkTalk revealed on Tuesday that chairman Charles Dunstone had purchased 955,149 ordinary shares in the FTSE 250-listed telecommunications firm.
London stocks finished flat on Tuesday, with the bounce from the heavy losses sustained during the previous session petering out as reports indicated that measures to help the US economy might take some time to make their way through Congress.
Analysts at Jefferies switched to a defensive stance on Banks from 'UK risk on' in the wake of the coronavirus, highlighting Lloyds as the most defensive play in the space.
Berenberg downgraded its stance on Meggitt to ‘hold’ from ‘buy’ on Tuesday and slashed the price target to 490p from 695p, arguing that the valuation is constrained.
Analysts at RBC Capital Markets upgraded Moneysupermarket from 'underperform' to 'sector perform' on Tuesday, stating that the group's risk/reward scenario was now "more balanced".
US stocks were mixed at the bell on Tuesday following the Dow Jones and S&P 500's worst daily showings since the Global Financial Crisis in the previous session.
Kosovo and Balkans-focussed marble quarrying and finishing company Fox Marble updated the market on its operations on Tuesday, reporting that sales for the 2019 calendar year totalled €1. 4m (£1. 23m).
Tungsten Corporation reported a 3% rise in year-to-date third quarter revenue in an update on Tuesday, to £27. 1m.
Video games developer and publisher Frontier Developments announced a multi-year exclusive licence with Formula One Management (FOM) to develop and publish management games annually for the FIA Formula One World Championship, which it described as “the world's most prestigious” motor racing competition.
Ultra Electronics reported a rise in full-year profit and revenue on Tuesday as it secured a number of new contract wins.
Merchant banking group Close Brothers said on Tuesday that full-year profits had fallen in 2019 on the back of a weaker performance in its banking business amid a lower interest rate environment.
SDX Energy announced the result of its Rabul-3 well in the West Gharib Concession in Egypt on Tuesday, where it has a 50% working interest and is the joint operator.
RyanAir Holdings sounded a confident note on its financial outlook for the year ending in March, even as it cautioned that it was too soon to know what impact the COVID-19 coronavirus might have on earnings and traffic in the new financial year.
Molecular diagnostics company Yourgene Health announced the acquisition of AGX-DPNI on Tuesday, which it described as a newly-formed entity comprising the NIPT distribution business of AdGeniX - its current French distribution partner for the ‘IONA’ test.
London’s FTSE 100 was down 0. 3% in afternoon trade on Tuesday, giving back earlier gains as worries about the coronavirus set in again.
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