Source: Sharecast
STOCKS TO WATCH
Engineering firm Weir has been tapped by copper producer Codelco to supply its tailings transport solution for the Talabre tailings dam expansion project in the Atacama region of Chile. Weir said on Wednesday that the initial £40.0m sustainable tailings solution contracts will be booked in Q225.
Healthcare property investment and management firm Assura has agreed to an increased and final 52.1p-a-share offer from KKR and Stonepeak, valuing the company at around £1.7bn. The announcement comes days after Assura said due diligence in relation to a rival 51.7p takeover proposal from Primary Health Properties was still ongoing, with both parties "working closely" together.
Globaldata has announced that ICG has walked away from takeover discussions after two months of speculation. ICG and KKR had been circling the data analytics and consulting company since late-April, though KKR talks were terminated two weeks ago after an agreement could not be reached. ICG's 'put up or shut up' deadline was then extended to 1700 BST on Wednesday, but the private equity firm has now confirmed it does not intend to make an offer.
NEWSPAPER ROUND-UP
Officials from the US and China have agreed on a "framework" to move forward on trade after two days of talks in London stemming from their confrontation over tariffs. The US commerce secretary, Howard Lutnick, expressed optimism on Tuesday that concerns about critical or "rare earth" minerals and magnets "will be resolved" as the deal is implemented. – Guardian
Rachel Reeves will raise government spending on affordable housing by nearly double on Wednesday, providing a major boost to the housebuilding sector and bringing the government's housing targets a step closer. The chancellor will announce nearly £40.0bn worth of grants to be spent over 10 years for local authorities, private developers and housing associations – a major increase on the previous programme. – Guardian
BT is plotting a rescue of TalkTalk as an escalating cash crisis threatens disruption in the broadband market. The former state monopoly is in the early stages of exploring a takeover of TalkTalk and its 3.2m customers, according to City sources. BT is considering a bid for Britain's fourth-largest broadband provider amid fears that its own business could be damaged by the tightening squeeze on TalkTalk's finances. – Telegraph
A notorious online message board linked to mass shootings in the United States is facing an investigation by British officials. 4chan is to be investigated by Ofcom, Britain's tech regulator, under the Online Safety Act over the suspected spread of illegal online posts. The forum, which became known for its users' vociferous support for Donald Trump and has been blamed for radicalising mass shooters in the US, is one of nine websites that are the subject of new investigations by Ofcom. – Telegraph
AstraZeneca has been accused of "turning a blind eye" to the Chinese government and putting "profits before people" as it invests billions in the country amid the long-running detention of a key executive. Leon Wang, who rose from a foreign language tour guide to become the head of international and China for the FTSE 100 drugmaker, is believed to remain in detention eight months after he was arrested in Shenzhen. – The Times
US CLOSE
US stocks finished higher on Tuesday as optimism rose that Beijing and Washington were making progress in their pivotal trade talks.
At the close, the Dow Jones Industrial Average was up 0.25% at 42,866.87, while the S&P 500 advanced 0.55% to 6,038.81 and the Nasdaq Composite saw out the session 0.63% firmer at 19,714.99.