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London close: Stocks finish weaker as UK economy contracts
London stocks closed in the red on Friday, as investors digested the latest UK GDP data, with US President-elect Joe Biden’s Covid relief package failing to lift markets amid growing worries about the pandemic and tightening restrictions.
Weekly review
The FTSE 100 ended the week 173. 55 points lower, closing on Friday at 6,735. 71.
ReNeuron makes progress with hRPC therapy trial
Cell-based therapeutics company ReNeuron Group updated the market on progress with the development of its human retinal progenitor cell (hRPC) therapy candidate for retinal diseases on Friday, which was currently undergoing phase 2a clinical evaluation for the treatment of the inherited blindness-causing disorder retinitis pigmentosa (RP).
PetroNeft buys additional 40pc interest in licence 67
Oil and gas exploration and production company PetroNeft has signed heads of terms with Belgrave Naftogaz, it announced on Friday, to acquire an additional 40% interest in licence 67, for $2. 9m.
Gama Aviation acquires US-based Jet East in $7.7m deal
Gama Aviation announced the acquisition of Jet East Aviation from East Coast Aviation on Friday, which it said would “significantly expand” its existing US aircraft maintenance operations.
Asia report: Markets mixed as investors digest Biden's package
Markets in Asia closed in a mixed state on Friday, as US president Donald Trump blacklisted another Chinese technology company, while investors digested the president-elect Joe Biden’s stimulus package.
Kodal Minerals makes progress in Mali and Core d'Ivoire
West Africa-focussed mineral exploration and development company Kodal Minerals updated the market on its gold exploration projects in southern Mali and Cote d'Ivoire on Friday, reporting that a review of the Fatou Gold Project in Mali was continuing, with further field reconnaissance highlighting “extensive” artisanal workings and geological control on mineralisation.
Urban Logistics acquires Wirral site off-market
Urban Logistics has acquired a logistics site in Bromborough, Wirral off-market for £16. 3m at a 5. 0% net initial yield, it announced on Friday, as part of the deployment of capital from its recent fundraising.
Star Phoenix formally notifies Georgia government of dispute
Oil, gas and oilfield services company Star Phoenix updated the market on its legal dispute with the government Georgia on Friday, over a production sharing contract dated 29 March 2007 for block VIA.
Oracle Power partner CNCDC begins preliminary work at Thar
Natural resources and power project developer Oracle Power said on Friday that its consortium partner, China National Coal Development Company (CNCDC), has started preliminary feasibility work relating to the potential gasification of coal at the company's Thar Block VI project in Pakistan.
Serabi Gold pleased with fourth quarter progress in Tapajos
Brazil-focussed gold mining and development company Serabi Gold updated the market on fourth quarter activities in the Tapajos region of Brazil’s Para State on Friday, reporting gold production of 7,254 ounces.
TRIG acquires interest in Beatrice wind farm, offshore Scotland
The Renewables Infrastructure Group (TRIG) has exchanged contracts to acquire an equity interest of 17. 5% in the Beatrice offshore wind farm, it announced on Friday, from Copenhagen Infrastructure Partners (CIP).
AstraZeneca gets another approval for 'Imfinzi' in Europe
AstraZeneca said on Friday that ‘Imfinzi’, or durvalumab, has been approved in the European Union and the UK for an additional dosing option - a 1,500mg fixed dose every four weeks - in locally advanced, unresectable non-small cell lung cancer (NSCLC).
Segro collects 98pc of rents for 2020
Segro said on Friday that for the year ended 31 December, it had collected 98% of all rents to date.
Meggitt to end year as expected, Segro collects 98pc of 2020 rents
London open The FTSE 100 is expected to open 26 points lower on Friday, having closed up 0. 84% on Thursday at 6,801. 96.