Market News

London close: Shares hammered by rising pound, trade and political frictions

19/03/2018 17:31

(ShareCast News) - London stocks fell sharply at the start of the week as the pound rallied on the back of a draft Brexit deal, with traders also looking ahead to a week that included monetary policy meetings at the US Federal Reserve and the Bank of England.

Broker tips: AstraZeneca, Close Brothers, Shire

19/03/2018 16:42

(ShareCast News) - Jefferies upgraded AstraZeneca to 'buy' from 'hold' on Monday, lifting the price target to 5,600p from 5,075p as it said the pharmaceuticals giant is at a "turning point".

Asiamet Resources drilling yields 'excellent' mineralisation in Indonesia

19/03/2018 15:56

(ShareCast News) - Asiamet Resources' ongoing drilling operation at the BKZ prospect in Indonesia has continued to intersect high grade mineralisation, the exploration and development company announced on Monday.

Senators call for Facebook hearing amid election "integrity" concerns

19/03/2018 15:39

(ShareCast News) - Senators Amy Klobuchar and John Kennedy have issued a joint call to Senate Judiciary Committee chairman Chuck Grassley to hold a hearing with the chief executives of Facebook, Google and Twitter.

Tuesday preview: Eyes on CPI ahead of BoE, Wood and Ocado report

19/03/2018 15:38

(ShareCast News) - UK inflation is expected to ease off on Tuesday ahead of the Bank of England monetary policy meeting later in the week, while updates are expected from the likes of Ocado and Wood Group.

FTSE 250 movers: Bookies rally but Capita takes a hit

19/03/2018 15:36

(ShareCast News) - London's FTSE 250 was down 0.5% to 19,710.61 in afternoon trade on Monday, with bookies bucking the trend as the outcome of the UK gambling watchdog's triennial review was less harsh than expected.

Shire still offers 50% upside, reckons Morgan Stanley

19/03/2018 15:34

(ShareCast News) - Analysts at Morgan Stanley took a fresh look at rare diseases specialist Shire on Monday, revisiting their bear case as the investment bank reiterated its 'overweight' rating on the group.

Jefferies ups AstraZeneca to 'buy', says it's at a 'turning point'

19/03/2018 15:34

(ShareCast News) - Jefferies upgraded AstraZeneca to 'buy' from 'hold' on Monday, lifting the price target to 5,600p from 5,075p as it said the pharmaceuticals giant is at a "turning point".

CentralNic wins .ooo domain distribution deal from Infibeam

19/03/2018 15:32

(ShareCast News) - Software platform company CentralNic has secured the distribution contract for the top-level domain '.ooo' from Infibeam Incorporation, an e-commerce company listed on the India Stock Exchange with a market capitalisation of more than $1bn, it announced on Monday.

Kremlin: 'UK must prove Russian involvement in poisoning or apologise'

19/03/2018 15:28

(ShareCast News) - Russia has demanded proof of their involvement in the Salisbury poisoning, saying that otherwise the UK should apologise, even as the European Union backs Britain and requests "full and complete disclosure of its novichok programme".

RBS gives shareholders vote on setting up retail investor committee

19/03/2018 15:27

(ShareCast News) - Shareholder groups of Royal Bank of Scotland will be given a vote later this year that could see retail investors have more of a say in some aspects of the business.

Anglo African makes good progress in the Congo Republic

19/03/2018 15:08

(ShareCast News) - Independent oil and gas developer Anglo African Oil & Gas announced on Monday that Petro Kouilou, its 100% owned subsidiary in the Republic of the Congo, has finalised a contract with oil services company Schlumberger to supply support services for the drilling of the new TLP-103 ...

Director dealings: Craneware CFO picks up £2.18m in share sale

19/03/2018 15:07

(ShareCast News) - Craig Preston, chief financial officer of software and support services firm Craneware, sold 112,126 ordinary shares in the Edinburgh-based group on Monday at a price of 1,950p per share.

US open: Tech stocks falter as investors 'unfriend' Facebook on data worries

19/03/2018 15:04

(ShareCast News) - Trading opened weaker on Wall Street on Monday as investors look ahead to the latest policy announcement and expected rate hike from the Federal Reserve on Wednesday with technology shares facing steep selling pressure amid fresh worries tied to Facebook's policies over user data ...

GBGI pleased with progress despite regulatory headwinds in Angola

19/03/2018 15:04

(ShareCast News) - International benefits insurance provider GBGI updated the market on its trading for the 2017 calendar year on Monday, reporting continued commercial momentum in line with management expectations in the second half of the year across its diversi?ed product and regional footprint.

Mereo BioPharma posts positive top-line from latest BGS-649 study

19/03/2018 14:47

(ShareCast News) - Biopharmaceutical company Mereo BioPharma Group announced positive top-line results from a phase 2b dose-ranging study with BGS-649 for the treatment of hypogonadotropic hypogonadism (HH) in men with a body mass index of over 30 on Monday.

Carpetright crashes on reports of store closures

19/03/2018 14:35

(ShareCast News) - Carpetright shares tumbled on Monday following a report over the weekend that the company is preparing to close stores and cut jobs in a bid to avert administration.

FTSE 100 movers: Barclays rallies as Sherborne takes stake; Micro Focus gets battered

19/03/2018 14:32

(ShareCast News) - London's FTSE 100 was down 1.4% to 7,066.66 in afternoon trade on Monday as investors looked ahead to a busy week that includes rate decisions from the Fed and the Bank of England.

BT gets union approval to close defined pension scheme

19/03/2018 14:18

(ShareCast News) - BT Group will close its defined benefits pension scheme after reaching an agreement with the Communication Workers Union (CWU) on Monday to secure pension arrangements for 20,000 employees.

Miton Group shares on the rise after 'strong start' to trading year

19/03/2018 13:57

(ShareCast News) - Asset manager Miton Group posted a double-digit increase in annual profit on Monday, pointing to a "strong start" to the year after its assets under management topped £4bn.

Conviviality calls time on boss Hunter

19/03/2018 13:45

(ShareCast News) - Conviviality chief executive Diana Hunter has thrown in the towel at the Bargain Booze owner after a succession of profit warnings, accounting and tax issues.

Harwood Wealth buys Southampton-based AE Financial in £6m deal

19/03/2018 13:30

(ShareCast News) - Financial planning and discretionary wealth management company Harwood Wealth Management Group announced the acquisition of AE Financial Services - an established chartered independent financial advisory firm based in Southampton - from AE Insurance Services on Monday.

Weatherly unable to cover loan repayments despite narrowed losses

19/03/2018 13:25

(ShareCast News) - AIM-quoted development and exploration firm Weatherly International narrowed operating losses in the first half of its current trading year as revenues soared more than a quarter compared to the same period twelve months earlier.

Petrofac wins $580m EPC contract with GCC national oil company

19/03/2018 13:22

(ShareCast News) - Oilfield services provider Petrofac has been awarded a contract worth around $580m with a GCC national oil company for the engineering, procurement and construction of a "major" project.

Columbus Energy upbeat after renegotiation of major deals

19/03/2018 13:21

(ShareCast News) - Trinidad-focussed oil and gas producer and explorer Columbus Energy updated the market on the Beach Oilfield Limited (BOLT) transaction on Monday, as well as its aspirations for operations and exploration in the South West Peninsula of Trinidad (SWP).

Monday broker round-up

19/03/2018 13:03

(ShareCast News) - Close Brothers Group plc: Berenberg downgrades to hold with a target price of 1,530p.

Europe midday: Technology, Basic Resources lead fallers

19/03/2018 12:50

(ShareCast News) - News that negotiators from Westminster and Brussels have made headway in talks on a post-Brexit transition period is helping to lift stocks off their lows of the session.

Spectra Systems phosphor sales drive 182% profit increase

19/03/2018 12:28

(ShareCast News) - Secure transactions provider Spectra Systems announced on Monday that it almost tripled its pretax profits in 2017, as they rose 182% to $3.1m compared to the previous year.

RedT Energy completes third generation cell stack design prototype

19/03/2018 12:05

(ShareCast News) - Energy storage solutions company RedT has completed design prototyping of its third generation cell stack, with the product now having been delivered to its premises.

TechFinancials' CEDEX sells 25m tokens in pre-sale event

19/03/2018 11:53

(ShareCast News) - AIM-quoted software developer TechFinancials said its investee CEDEX had hit its target of selling 25m tokens in its pre-sale event last week, with a further 25m tokens having been made available after the main sale kicked off on Saturday.

Asia report: Markets mixed, Japan sinks on political turmoil

19/03/2018 11:49

(ShareCast News) - Markets in Asia finished mixed on Monday, with Japanese stocks underperforming their regional peers after a strong performance from the yen, and amid a political scandal in the country.

UK agrees Brexit transition deal with EU, loose threads remain

19/03/2018 11:40

(ShareCast News) - Britain and the European Union have agreed a 21-month Brexit transition deal to smooth the break-up after March 2019, though the Irish border remains one of several issues not yet resolved and it was described by some as "not a decisive breakthrough".

Accrol sees 58% wiped off share price as costs absorb funding

19/03/2018 11:40

(ShareCast News) - Soft tissue manufacturer Accrol Group Holdings' shares fell almost 60% on Monday after the company projected a larger than expected EBITDA loss and the likely breach of banking covenants.

Apple looks to cut out Asian screen makers, kicks off MicroLED production

19/03/2018 11:39

(ShareCast News) - Tech giant Apple is said to be developing its own MicroLED device displays, making a limited number of the screens available for testing as part of a move that could seriously hurt Asian display makers whose primary business is the supply of these screens to the US smartphone manu...

London midday: Stocks slide as pound pops on Brexit transition deal

19/03/2018 11:07

(ShareCast News) - London stocks fell further into the red by midday on Monday as the pound rallied on the back of a draft Brexit deal, with traders also looking ahead to a week ahead that includes monetary policy meetings for the US Federal Reserve and the Bank of England.

US pre-open: Stocks seen lower; Facebook set to drop on data woes

19/03/2018 11:06

(ShareCast News) - US futures pointed to a weaker open on Wall Street on Monday as investors look ahead to the latest policy announcement from the Federal Reserve this week, while worries about a possible trade war continue to play on investors' minds.

Staffline completes acquisition of Endeavour

19/03/2018 10:56

(ShareCast News) - AIM-listed recruitment and employability organisation Staffline has completed the acquisition of Endeavour and its subsidiary Vital for an undisclosed sum.

Trump deems McCabe and Comey notes 'fake memos'

19/03/2018 10:49

(ShareCast News) - Donald Trump's row with his own Federal Bureau of Investigation intensified on Sunday, demanding that notes of conversations taken by the Bureau's former director James Comey and recently let go deputy Andrew McCabe be referred to as "fake memos".

Euro area goods trade surplus drops more sharply than expected in January

19/03/2018 10:46

(ShareCast News) - Euro area good exports kicked-off the year on a weak note, weighed down by a poor showing by France.

Accounting watchdog launches investigation into two former Carillion executives

19/03/2018 10:36

(ShareCast News) - The Financial Reporting Council (FRC) announced on Monday that it has begun an investigation into Carillion's former group finance directors Richard Adam and Zafar Khan.

Italian industrial production falls sharply in January

19/03/2018 10:22

(ShareCast News) - Italian industrial output fell back at the start of the year, amid sharp drops in the production of durable consumer goods and capital goods but above all in energy.

Finsbury Food interim profit rises despite headwinds

19/03/2018 10:12

(ShareCast News) - AIM-listed cake and bread maker Finsbury Food posted a 6% jump in interim profit on Monday as revenue edged higher despite "market-wide headwinds".

Rolls Royce agrees 'critical' deal to develop battery technologies

19/03/2018 09:56

(ShareCast News) - Aerospace engineering giant Rolls Royce has entered into an agreement with UK company Superdielectrics to develop materials that challenge the dominance of traditional batteries.

Telit Communications loses Italian tax penalty appeal

19/03/2018 09:55

(ShareCast News) - AIM-listed Internet of Things enabler Telit Communications has lost an appeal against an Italian tax penalty.

Facebook tumbles amid flak over personal information leak

19/03/2018 09:50

(ShareCast News) - European and US authorities are demanding answers from Facebook Inc after personal information on 50m users of the social media site were leaked to UK company Cambridge Analytica, which helped the Vote Leave and Trump presidential campaigns in 2016.

Petards wins extension to significant MoD contract

19/03/2018 09:49

(ShareCast News) - Advanced security and surveillance software developer Petards announced on Monday that the Ministry of Defence (MoD) has exercised its option to extend its existing three year contract - initially announced on 22 December 2016.

Hummingbird reports impressive numbers from Yanfolila mine

19/03/2018 09:46

(ShareCast News) - Hummingbird Resources announced a ramp-up update from its Yanfolila Gold Mine in Mali on Monday, with the mine having commenced gold production in December.

Scotgold agrees earn-in with PanEx for Polmar licence in Portugal

19/03/2018 09:42

(ShareCast News) - Scotgold has concluded an earn-in agreement to its Portuguese subsidiary, Scotgold Resources Portugal - which holds the Pomar licence - with PanEx Resources, it announced on Monday.

Adamas leads funding round for Singapore health-tech project DocDoc

19/03/2018 09:37

(ShareCast News) - Asia-focused investment firm Adamas Finance Asia announce an investment in a new project, DocDoc, on Monday.

Armadale reveals 31-year mine plan for Mahenge Liandu

19/03/2018 09:33

(ShareCast News) - Africa-focussed natural resources investment company Armadale Capital announced on Monday that an optimisation study for the Mahenge Liandu Graphite Project in Tanzania has now been completed by ROM Resources.

Michelmersh profits pile up on the back of Carlton acquisition

19/03/2018 09:27

(ShareCast News) - AIM-quoted tile and paver manufacturer Michelmersh Brick returned a solid annual report card on Monday as a result of a strong showing by its most recent acquisition and an improved premium bricks market.

NetScientific's Wanda signs orthopedics deal with HRS Home Health

19/03/2018 09:20

(ShareCast News) - Healthcare intellectual property commercialisation company NetScientific announced on Monday that its portfolio company Wanda Health is expanding into orthopedics through a new partnership with HRS Home Health.

Caspian Sunrise shares plummet as extreme cold hits drilling

19/03/2018 08:59

(ShareCast News) - Shares in oil and gas exploration company Caspian Sunrise fell almost 30% after it announced the effects of adverse weather on its operations at the BNG contract area in Kazakhstan.

KCR Residential raises £3.2m for PRS investments, Energiser buys in

19/03/2018 08:53

(ShareCast News) - KCR Residential raised a total of £3.15m via the issue of 4.5m new ordinary shares of 70p each on Monday in order to expand its residential property portfolio.

US close: Wall Street breaks four-session losing streak, but ends lower for the week

19/03/2018 08:52

(ShareCast News) - Wall Street broke a four-session losing streak on Friday, buoyed by some strong readings on the economy, but still closed lower for the week weighed down by multiple changes - actual and heavily speculated upon - in the top ranks of the Trump administration and amid ongoing trade ...

Barclays rallies as Sherborne takes 5% stake

19/03/2018 08:41

(ShareCast News) - Barclays rallied on Monday as it emerged that Edward Bramson's activist investment fund, Sherborne Investors, has acquired 5.2% of the voting rights in the bank.

Putin elected for a fourth term as President of Russia

19/03/2018 08:38

(ShareCast News) - Vladimir Putin was elected for a fourth six-year term as Russian President in the 19 March elections, making him the longest-serving leader of the country since dictator Joseph Stalin, although voter turnout was slightly lower than the Kremlin had reportedly been seeking.

Europe open: Stocks kick-off trading on a down note ahead of G-20, amid hawkish ECB-speak

19/03/2018 08:37

(ShareCast News) - Stocks have started the morning trading sharply lower, with traders focused on the two-day G-20 finance ministers which was set to get under way later in the day in Buenos Aires and ahead of the key US central bank policy meeting on Wednesday.

Thor Mining shares boosted 9% by 'strong potential' of Kapunda project

19/03/2018 08:21

(ShareCast News) - Exploration and development company Thor Mining saw a jump in share prices on Monday after the company provided further information concerning its Kapunda copper project.

Relief for bookies over gambling machines reports

19/03/2018 08:16

(ShareCast News) - Shares in bookmakers Ladbrokes and William Hill galloped higher on Monday after reports that they will avoid the worst scenarios envisaged from the government's triennial review on fixed-odds betting terminals.

Charity calls for further protections to consumers of 'doorstep loans'

19/03/2018 08:10

(ShareCast News) - Independent charities network Citizens Advice has called for people utilising high-interest "doorstep loans" to be provided with the same level of protection as those with payday loans in order to be spared millions of pounds of excess fees and charges per year.

London open: Stocks in the red ahead of big week; Micro Focus tumbles

19/03/2018 08:07

(ShareCast News) - London stocks fell on Monday as investors looked ahead to a busy week that includes the latest policy announcements from the Federal Reserve and the Bank of England.

Market buzz: Pound pops on EU transition deal, Facebook falls

19/03/2018 08:05

(ShareCast News) - 1527: The Chicago Board of Options Exchange's VIX volatility index is up by 26.39% to 19.97 points as the Nasdaq Composite gives up 2.37% or 175.05 points to 7,308.48. Latest headline .. EU said to pledge to probe Facebook's handling of user data.

Berenberg downgrades Close Bros to 'hold', says valuation is now fair

19/03/2018 07:58

(ShareCast News) - Merchant bank Close Brothers was under the cosh on Monday as Berenberg cut the stock to 'hold' from 'buy', saying the valuation is now fair.

London house prices drop in March - Rightmove

19/03/2018 07:46

(ShareCast News) - Average asking prices paid by first- and second-time buyers in Britain hit records levels this month, although overall prices in the capital fell, according to data released by Rightmove on Monday.

Hammerson surges after rejecting £5bn bid from France's Klepierre

19/03/2018 07:45

(ShareCast News) - Shares in Hammerson surged on Monday as it confirmed that it recently rejected a £5bn bid from French shopping centre operator Klepierre.

London pre-open: Stocks seen lower as investors eye Fed rate announcement this week

19/03/2018 07:43

(ShareCast News) - London stocks were set to edge lower at the open on Monday as investors look ahead to the latest policy announcement from the Federal Reserve this week.

Melrose quickly derides GKN Driveline-Dana plan for London listing

19/03/2018 07:21

(ShareCast News) - Turnaround specialist Melrose was quick to respond to the latest development in GKN's quickly-organised breakup on Monday, saying its own final offer of 466p in value today and 60% of future value creation for the whole of GKN was "clearly superior" to the "hasty break-up" being p...

Combined GKN Driveline-Dana business would have London listing

19/03/2018 07:20

(ShareCast News) - Further to its announcement on 9 March about the proposed combination of Dana Incorporated and GKN Driveline, Dana announced on Monday that the new combined business will hold a standard listing on the London Stock Exchange, in addition to being listed on the New York Stock Exchan...

Micro Focus nosedives on HPE integration issues, CEO Hsu walks

19/03/2018 07:07

(ShareCast News) - Micro Focus International chief executive Chris Hsu has resigned as the company downgraded its profits guidance less than six months after completing the reverse takeover of HP Enterprise's software arm.

Monday newspaper round-up: FOBTs, advertising, crypto, RBS

19/03/2018 06:46

(ShareCast News) - The Gambling Commission is to recommend that the government reduce the maximum stake on fixed-odds betting terminals (FOBTs), known as the "crack cocaine of gambling", to £30 or less. However, in a move likely to come as a relief to bookmakers, the watchdog will not explicitly bac...

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