FTSE Supported By Further China Stimulus Details To Be Announced SaturdayUK stocks climbed modestly on Wednesday, recovering from a one-month low recorded in the previous trading day. The FTSE was supported as reports surfaced that China’s finance ministry will hold a press conference on Saturday to introduce measures to strengthen countercyclical fiscal policy adjustments and promote economic growth. The blue-chip FTSE 100 index is up 0.1% heading into the close, looking to finish out the session at the midpoint of the day’s range. In single stock stories Rio Tinto’s UK-listed shares declined 0.7% after the Australian mining company announced it would acquire Arcadium Lithium in a $6.7 billion all-cash transaction, making it the world’s third-largest lithium producer.Mondi, a British paper and packaging company, has agreed to acquire Schumacher Packaging’s German, Benelux, and UK packaging assets for 634 million euros ($694.86 million), including debt. The deal is expected to be earnings-accretive in the first full year after the closure, which is anticipated in the first half of 2025. Mondi’s shares have risen 3.3% to 1,450 pence, making it the top gainer on the FTSE 100 index, although the stock has declined around 6% year-to-date.Shares in CMC Markets have risen by 5.9% to 323p, ranking among the top gainers on the FTSE mid-caps index. The British trading platform has reported a 45% increase in its first-half net operating income, supported by cost-cutting measures and sustained levels of trading activity. The company expects to swing to a profit before tax of 51 million pounds from a loss of 2 million pounds reported last year. The stock has surged over 200% so far this year.Informa, a British events organiser, saw its shares rise by 1.3% to 811.8p. The company reaffirmed its 2024 profit and revenue forecasts and completed a $1.6 billion acquisition of Ascential, the owner of the Cannes Lions Festival. Informa has established three focused Live B2B Events businesses: Informa Markets, Informa Connect, and Informa Festivals. The INF stock has risen approximately 4% year-to-date.In broker updates RBC Capital Markets analysts expect Britain’s water regulator to announce a final decision that is positive for the sector’s total expenditure, performance benchmarks, and returns. Ofwat will announce the final determination for the new 5-year regulatory cycle in December. Shares of United Utilities rose 2.8% to 1,034p, Severn Trent rose 1.9% to 2,561p, while Pennon fell 0.3% to 557.5p. RBC upgraded United Utilities to “Outperform” from “sector perform” and increased the price target to 1,150p, citing the company’s strong balance sheet. RBC downgraded Pennon to “sector perform” from “outperform” and reduced the price target to 675p, citing possible pressure on the company’s balance sheet ahead of the new regulatory cycle, but expects Pennon to perform better on returns on regulated equity (RORE) than the market expects. RBC maintained a “sector perform” rating on Severn Trent, but increased the price target to 2,600p. Technical & Trade ViewFTSE Bias: Bullish Above Bearish below 8225

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