Stocks were up yesterday after positive earnings surprise, including ASML, boosting tech stocks. Miners rose after China unveiled a stimulus plan, which includes lowering its reserves requirement for banks. The FTSE 100 ended Wednesday’s session up 0.6%.

Today, banking stocks are underperforming while, BP and Shell are rising along with oil prices. IG Group and Wizz Air shares tumbled after disappointing results,

Elementis, a London-based chemicals firm, received a takeover bid from US private equity firm KPS Capital Partners LP at 160 pence per share, valuing the company at approximately GBP 940.5 million. Elementis, however, sought a higher offer of around 180 pence per share, implying a valuation of GBP 1.06 billion. Following the news, its shares rose 7.9, boosting its market capitalisation to GBP 787.7 million. 

Mining giant Rio Tinto confirmed the death of four of its workers and two airline crew members in a plane crash near Fort Smith, Northwest Territories, Canada. 

Workspace Group, a British workspace operator, reported a decline in its total rent roll from GBP 141.9 million to GBP 140.5 million for the quarter ended December 31, 2023. The like-for-like occupancy rate also decreased slightly from 88.6% to 88.2%.

Hotel Chocolat Group's takeover by Hive Bidco, a subsidiary of US-based food group Mars Inc, has taken effect. The British chocolate manufacturer's trading on the AIM submarket of the London bourse is expected to be canceled from Friday.

Dr. Martens reported a 21% decline in fiscal third-quarter revenue, with the company maintaining its guidance of a high single-digit percentage decline in revenue on a constant currency basis for the full fiscal year.

Wizz Air posted a loss for the fiscal third quarter, with revenue rising year over year. The low-cost airline maintained its net income guidance for fiscal 2024.

Fevertree Drinks forecasted annual core profit to fall short of market expectations, despite profit doubling in the second half due to strong U.S. market performance.

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