Industrial machinery giant Caterpillar posted a sharp drop in quarterly earnings on Tuesday as equipment sales fell across all territories.
Life insurance and Aerospace and Defence issues paced losses on Tuesday, as mounting concerns around the ongoing second wave of Covid-19, especially in Southern and Eastern Europe, weakened investor sentiment.
Wall Street stocks turned in a mixed performance on Tuesday as an ever-increasing number of new Covid-19 cases continued to weigh on sentiment.
European shares finished sharply lower on Tuesday, having briefly moved back into positive territory around midday, despite strong earnings figures from corporate giants BP and HSBC.
Airbus and Singapore's ST Engineering said they would set up new sites in China, Germany and the United States by 2023 to convert A321 passenger planes into freighters.
The economic and corporate news-flow is light on Wednesday, although investors will continue to keep an eye on the election polls ahead of the 3 November presidential and Congressional elections in the US.
London stocks slid back into negative territory during afternoon trading on Tuesday, as investors weighed up better-than-expected earnings from the likes of BP and HSBC against ongoing concerns about the Covid-19 pandemic and doubts about US stimulus.
RBC Capital Markets downgraded Flutter Entertainment on Tuesday to ‘sector perform’ from ‘outperform’ and trimmed the price target to 120. 0p from 125. 0p following a strong run.
Eli Lilly posted lower than expected quarterly earnings, but reaffirmed its full-year guidance for profits.
Harworth Group revealed on Tuesday that company secretary Chris Birch had acquired 10,886 ordinary shares in the London-listed land and property regeneration company.
Specialist drug development company Sareum Holdings announced on Tuesday that its application for a grant of around £0. 17m from UK Research and Innovation (UKRI) to investigate the therapeutic potential of ‘SDC-1801’, its selective, small molecule TYK2/JAK1 kinase inhibitor in severe phase Covid-19, had been conditionally approved.
London’s FTSE 250 was down 1. 5% at 17,594. 70 in afternoon trade on Tuesday.
London’s FTSE 100 was down 1% at 5,731. 95 in afternoon trade on Tuesday.
Consumer goods giant Unilever said that following board meetings earlier in the day, it plans to go ahead with proposals to unify its legal structure in the UK.
Life sciences and technology investor NetScientific announced on Tuesday that its portfolio company PDS Biotechnology has opened the phase 2 clinical trial of ‘PDS0101’ in combination with standard of care chemoradiotherapy, for the treatment of locally-advanced cervical cancer.
Healthcare technology company Induction announced on Tuesday that its ‘Induction Zesty’ product, working in collaboration with Apple and the Cerner Corporation, had recently supported the rollout of health records on the iPhone platform to patients at Milton Keynes University Hospital NHS Trust (MKUH).
Wall Street stocks were mixed following the opening bell on Tuesday as an ever-increasing number of new Covid-19 cases continued to weigh on sentiment.
Money supply growth in the single currency bloc accelerated unexpectedly sharply in September, a possible positive signal for short-term growth prospects although it likely came too late to save fourth quarter gross domestic product.
US house prices clocked in with their fastest pace of gains since 1991 in August, a closely-followed gauge of home price inflation showed.
Sentiment among US consumers dipped last month but confidence remained solid enough for many of them to be likely to continue to splash out, a widely-followed gauge showed.
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