London markets delivered mixed results on Wednesday. The blue-chip FTSE 100 defied inflation and Federal Reserve worries, closing 0.4% higher at 7,847.99. This rise was driven by a surge in mining stocks, which had fallen earlier in the week on mixed economic data from China. Elsewhere, the FTSE 250 ended down 0.2% at 19,340.14, and the AIM All-Share closed up 0.7% at 743.12. Miners Rebound Rio Tinto rose 2.6% despite reporting lower quarterly iron ore shipments and production. Anglo American gained 3.5%, even though their latest rough diamond sales were lower than a year ago. Fresnillo climb ..read more

Oil and gas technology firm Hunting (LSE: HTG) announced its first-quarter results, which exceeded management's projections despite facing headwinds in the US onshore market. The company reported earnings before interest, tax, depreciation, and amortisation (EBITDA) of $28.9 million, a 29% year-over-year increase from $22.4 million in the same period last year. While maintaining its full-year EBITDA guidance range of $125 million to $135 million, representing a potential 31% rise from the previous year's $103.0 million, Hunting's revenue for the first quarter climbed 16% to $244.9 million, up ..read more

Entain (LSE: ENT) reported steady first-quarter figures on Wednesday, with growth in its overall net gaming revenue tempered by declines in its UK & Ireland operations and customer-friendly bookmaker margins in the US. The FTSE 100 gambling firm, owner of Ladbrokes and Coral, saw a 3% year-on-year increase in total net gaming revenue at constant currency rates, or 6% on a reported basis including its 50% share of the BetMGM joint venture. However, Entain highlighted that its UK & Ireland net gaming revenue fell 7% compared to Q1 2023, citing the "effects of regulatory implementation ..read more

Antofagasta (LSE: ANTO) reported an 11% year-on-year decline in copper production for the first quarter, citing lower ore grades and increased ore hardness at its Centinela mine in Chile. The company left its annual copper production guidance unchanged, targeting 670,000 to 710,000 tonnes. The lower first-quarter copper output of 129,400 tonnes was attributed to the anticipated lower grades and elevated ore hardness at Centinela, in line with the mine plan. Maintenance and cleaning activities at Los Pelambres delayed concentrate transportation to port facilities. Gold output saw a 21% dip, a ..read more

Despite posting a £16.3 million adjusted EBITDA loss for the 26 weeks to 3rd March, compared to a £4.6 million profit a year earlier, ASOS (LSE: ASC) shares climbed 8% in early Wednesday trading. The company attributed the setback to fierce competition from rapidly expanding Chinese fast-fashion rival Shein and a build-up of excess stock. However, ASOS maintained its forecast for positive full-year adjusted EBITDA, with sales expected to decline 5-15%. CEO José Antonio Ramos Calamonte stated the company is "laying the foundations for sustainably profitable growth in full-year 2025 and beyond ..read more

The UK's annual inflation rate edged down to 3.2% in March from 3.4% in February, according to the Office for National Statistics (ONS). While moderating, the figure exceeded expectations of a 3.1% print. A key driver behind the latest easing was a slowdown in food price growth. The ONS stated that prices for food and non-alcoholic beverages rose by 4.0% annually in March, down from 5.0% in February – the lowest rate since November 2021. On a monthly basis, consumer prices climbed 0.6% in March, matching the increase seen in February. Core inflation, which excludes volatile energy, food, alco ..read more

The US dollar held steady on Wednesday after Federal Reserve officials reinforced expectations that interest rates will remain elevated for longer than previously anticipated by markets. In a series of comments on Tuesday, top Fed policymakers, including Chair Jerome Powell, pushed back against providing any guidance on potential rate cuts. Instead, they stressed the need for a restrictive monetary policy stance to persist to bring inflation under control. "Given the labor market strength and the progress on inflation so far, it is appropriate to keep restrictive policy in place and let the d ..read more

Federal Reserve Chair Jerome Powell poured cold water on expectations for interest rate cuts this year, citing persistent high inflation. His comments at the Wilson Center on Tuesday weighed on gold prices by bolstering the dollar and Treasury yields. "Recent data have clearly not given us greater confidence that inflation is coming fully under control. Instead, it indicates achieving that confidence is likely to take longer than expected," Powell remarked. He left the door open to maintaining the current level of rates "for as long as needed" if elevated inflation persists. This hawkish stan ..read more

London stocks closed lower on Tuesday as investor sentiment soured due to rising geopolitical tensions and fading hopes for US interest rate cuts. The FTSE 100 fell 1.8%, the FTSE 250 dropped 1.8%, and the AIM All-Share closed down 1.6%. DS Smith Takeover Agreed DS Smith agreed to a £5.8 billion takeover from New York-listed International Paper. The deal values each DS Smith share at 415p, though the stock fell 4%. M&A Activity TClarke surged 29% after agreeing to a £90.6 million takeover from Regent Gas. Hostmore jumped 5.6% as it announced a merger with its franchisor TGI Fridays. Dr. M ..read more

Dr Martens (LSE: DOCS) shares plummeted over 30% after the company issued another profit warning, this time for the year ending March 2025. The iconic bootmaker's market value now sits at roughly £629 million, a stark contrast to its £3.7 billion valuation at its 2021 debut. Dr Martens anticipates a significant decline in pre-tax profits, potentially falling to a third of current year levels. This bleak outlook stems from a double-digit drop expected in US wholesale revenue, impacting profitability by an estimated £20 million annually. The company also faces inflationary headwinds of £35 mill ..read more