Entain CEO steps down, Volution set to bet profit forecasts

London open

The FTSE 100 is expected to open 1.4 points higher on Wednesday, having closed down 0.03% on Tuesday at 7,542.77.

Stocks to watch

Entain chief executive officer Jette Nygaard-Andersen has resigned from her position with immediate effect, the company announced on Wednesday. Its board had appointed Stella David, a non-executive director, as interim CEO until a permanent replacement was selected. Jette's decision to leave came after the resolution of HMRC's investigation into the company's legacy Turkish-facing business.

Ventilation products group Volution expects to beat profit forecasts after a strong performance across the board in the first four months of the financial year. The company said that all three of its geographic regions increased earnings over the four months to 30 November, but the strongest performance came from UK residential activities. Despite the recent drop in new build completions, the company has benefitted from regulatory drivers for energy-efficient ventilation solutions, with customers refurbing properties to resolve mould and condensation issues.

Newspaper round-up

Regulators should take action to curb a sharp rise in the price of infant formula, pregnancy campaigners have said, after a UK survey found more than half of women felt anxious about the cost of feeding their babies, with the number who expressed concern rising by a quarter in two years. The British Pregnancy Advisory Service (BPAS) found 65% of mothers were worried about the price of feeding their babies, and the same number said it had a negative impact on their family’s finances. A third of women felt it was “better” for babies to be fed the more expensive milk, despite there being no nutritional benefits. – Guardian

The chief executive of Sainsbury’s has defended its decision to sell data on the shopping habits of his customers to TV and consumer goods manufacturers looking to target their advertising. Simon Roberts has said the supermarket group protects personal data “incredibly carefully” and that its strategy had made adverts more “relevant” for shoppers. – Guardian

The US owner of Boots is weighing a £7bn UK listing of the high street pharmacy chain in plans that could provide a much-needed boost for London’s ailing stock market. Walgreens Boots Alliance is understood to be looking at options for Boots, two years after it abandoned a sale of the 174-year-old UK company. Boots’ management is said to be pushing Walgreens toward an initial public offering (IPO) which would mark a return of the company to the London Stock Exchange (LSE) following a 16-year hiatus. – Telegraph

The Royal Mail owner International Distributions Services (IDS) is mulling a bid of up to €500 million for Packeta, a Czech parcels business. The group, which operates in Slovakia, Poland, Hungary, Romania and Germany as well as the Czech Republic, was put up for sale in May this year. The latest round of bids are due to be tabled by Friday. – The Times

Homeowners can now sell their houses for nothing through Purplebricks as the online estate agent tries to claw back market share it lost over the past couple of chaotic years. The agent, which unlike its more traditional rivals has no high street presence, will value a home, list it on Zoopla and handle the negotiation process free of charge. – The Times

US close

Wall Street stocks were higher at the close of trading on Tuesday as market participants digested key inflation data from the Bureau of Labor Statistics.

At the close, the Dow Jones Industrial Average was up 0.48% at 36,577.94, while the S&P 500 advanced 0.46% to 4,643.70 and the Nasdaq Composite picked up 0.70% to 14,533.40.

The Dow closed 173.01 points higher on Tuesday, reversing earlier losses and extending gains recorded in the previous session.

Tuesday's primary focus was on news that the cost of living in the US had drifted a tad lower in November amid another decline in energy prices.

According to the Department of Labor, in seasonally adjusted terms, the country's consumer price index edged up by 0.1% month-on-month.

In annual terms, on the other hand, the rate of change ticked lower by one-tenth of a percentage point to 3.1%.