Much of the stock market recovery was down to US debt hope with the Dow Jones climbing +2.18% to 15,126.
Royal Mail shares trading has started, though its shares won't make the London Stock Exchange officially till next week. Priced at 330p - giving the Royal Mail a market value of £3.3bn - there will be much interest to see if shares climb, or not.
Just under 700,000 people will receive £750 worth of shares. Of those 700,000, 93,000 will be entitled to the full maximum they applied for - £750. Overall, it's expected the move will raise appoximately £1.75bn for the taxpayer, though this could rise closer to £2bn if more of RM is sold off.
However, one City broker, Canaccord Genuity believes Royal Mail should have been valued at closer to £6bn. That would work out at around 560p per share. Vince Cable now faces considerable pressure on whether the company was substantially undervalued.
Since the third quarter interim in August, quality and production issues, particularly at its US Kilgore facility, have continued says Chemring, resulting in reduced revenue for this financial year. "In addition, the UK£:US$ exchange rate has moved adversely, reducing the sterling value of profits generated in the US."
However Chemring Group was yesterday upgraded by Barclays Capital to an Overweight rating in a research note issued to investors on Wednesday. JP Morgan also restated their Overweight rating on the stock earlier this month.
Finally, BT has signed a deal with EE - operator of T-Mobile and Orange - giving BT an entree into the consumer mobile market, the first for BT since BT Cellnet, or 02, at the start of the noughties.
Since that time BT has focused on corporate services due to a close relationship with Vodafone. However, that agreement expired after Vodafone snapped up Cable & Wireless.
"BT," says the telecoms giant, "will carefully manage the change from the current mobile virtual network oerpator to EE to ensure a seamless transition for customers."