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Hiscox sees potential £175m in Covid payouts as legal threat looms
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.
Europe close: Stocks bounce back ahead of key EU leaders summit
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.
Weekly US oil inventories jump, imports slip
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.
Thursday preview: EU leaders' summit, Unilever in the spotlight
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 close: Markets finish higher as UK inflation slows
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.
WTI higher as Trump threatens to destroy Iranian gunboats
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 approves first human trials for Covid-19 vaccine
Germany's vaccines regulator approved live human testing of a potential vaccine against COVID-19 on Wednesday.
Director dealings: Arbuthnot director makes share purchase
Arbuthnot Banking Group revealed on Wednesday that non-executive director Nigel Boardman had acquired 5,020 ordinary shares in the AIM-listed private bank.
Broker tips: Centrica, Blue Prism, Centamin
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.
Nostra Terra announces farm-in to Pine Mills acreage
Oil and gas exploration and production company Nostra Terra announced a farm-in to its Pine Mills acreage in East Texas on Wednesday.
Liverpool FC picks Blackbird video editing system
Video editing platform provider Blackbird announced on Wednesday that its product was being used by Liverpool Football Club for remote video production.
Weir asks shareholders not to attend AGM
British engineering company Weir Group will hold its annual general meeting on 28 April with just the necessary minimum of two shareholders in attendance.
FTSE 250 movers: Drax powers ahead; Centamin shines
London’s FTSE 250 was up 0. 8% to 15,516. 56 in afternoon trade on Wednesday.
Eurozone economic confidence slumps in April
Eurozone economic confidence slumped in April as the coronavirus pandemic took its toll, according to flash data released on Wednesday.
US open: Stocks attempt rebound as oil stages turnaround
US stocks opened higher on Wednesday as oil prices staged a massive turnaround after the historic drop seen over the last two sessions.
Centamin offers chunky dividend yield, Berenberg says
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.
FTSE 100 movers: CRH gains on update; Centrica hit by downgrade
London’s FTSE 100 was up 1. 9% at 5,748. 66 in afternoon trade on Wednesday.
CareTech trades in line, sees 'minimal' Covid-19 impact
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 shares surge on progress with Covid test
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 pleased with performance of acquired businesses
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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