Hiscox said it could pay out $175m in coronavirus-related claims if lockdowns and travel bans were extended beyond six months as it faced a potential class action from angry business customers over rejected applications.
Stocks on the Continent clawed back some of their recent losses on Wednesday, helped by news of further economic relief measures on the other side of the Pond, even as investors waited on a meeting of European Union leaders the next day to decide on a package of additional stimulus measures for the euro area.
US crude oil inventories registered another sharp rise during the previous week, although there were some slight signs that market fundamentals were starting to align themselves with the reduced amount of storage capacity left.
The focus on Thursday will be on a key teleconference between European Union leaders to try and thrash out an economic relief package that some reports say could reach as high between €1. 0-1. 5trn in size.
London stocks finished in the green on Wednesday, recovering from heavy losses in the previous session despite a continued slump in oil prices, as investors mulled the latest UK inflation data.
President Trump threatened on Wednesday to destroy any Iranian gunboats that harassed US ships at sea, triggering a so-called 'short squeeze' in US oil futures according to analysts.
Germany's vaccines regulator approved live human testing of a potential vaccine against COVID-19 on Wednesday.
Arbuthnot Banking Group revealed on Wednesday that non-executive director Nigel Boardman had acquired 5,020 ordinary shares in the AIM-listed private bank.
Centrica faces major headwinds and will not pay a dividend in 2020, Jefferies said as the broker downgraded the struggling energy provider to 'hold' and slashed its price target.
Oil and gas exploration and production company Nostra Terra announced a farm-in to its Pine Mills acreage in East Texas on Wednesday.
Video editing platform provider Blackbird announced on Wednesday that its product was being used by Liverpool Football Club for remote video production.
British engineering company Weir Group will hold its annual general meeting on 28 April with just the necessary minimum of two shareholders in attendance.
London’s FTSE 250 was up 0. 8% to 15,516. 56 in afternoon trade on Wednesday.
Eurozone economic confidence slumped in April as the coronavirus pandemic took its toll, according to flash data released on Wednesday.
US stocks opened higher on Wednesday as oil prices staged a massive turnaround after the historic drop seen over the last two sessions.
Centamin is on track for 2020 production guidance and its dividend looks set to deliver a chunky yield, Berenberg said as it increased its price target for the gold miner.
London’s FTSE 100 was up 1. 9% at 5,748. 66 in afternoon trade on Wednesday.
Social care provider CareTech said its first-half performance was in line with market expectations as both revenues and margins were "stronger" than they had been a year earlier.
Avacta Group said on Wednesday that, in four weeks and “well ahead” of schedule, it had successfully generated multiple ‘Affimer’ reagents that bound the SARS-COV-2 viral antigen as part of the collaboration with Cytiva - formerly GE Healthcare Life Sciences - to develop an Affimer-based rapid test for the Covid-19 coronavirus infection.
AB Dynamics reported a 34% improvement in revenue in its first half on Wednesday, to £34. 7m, with the company reporting underlying revenue growth of 11%, slowing from 69% at the same time last year.
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