Latest News
PetroNeft begins year-round production at Sibkrayevskoye field
Russia-focussed oil and gas exploration and production company PetroNeft Resources announced the start of year-round production from the Sibkrayevskoye field in licence 61 on Wednesday, following the connection of the field to the central processing facility.
Private sector employment eases in the US, sharper falls predicted
Private sector employment eased in the US last month, figures released by consultancy ADP on Wednesday showed, but is expected to fall even further in the coming weeks because of the coronavirus outbreak.
Base Resources draws full revolving facility to continue Kwale operations
African mineral sands producer and developer Base Resources has drawn down the full $75m available under its existing revolving credit facility, it announced on Wednesday.
Watkin Jones scraps dividend as virus disrupts operations
Watkin Jones has scrapped its interim dividend and withdrawn financial guidance after the Covid-19 virus disrupted the student accommodation specialist.
FinnCap cancels second interim dividend, expects deals to be delayed
Small-cap stockbroker FinnCap pulled its second interim dividend for the past year on Wednesday, citing delays and cancellations to "a number of deals" expected in the coming months.
Market recovery will unravel, investor Howard Marks warns
The recent global market recovery will unwind as the impact of Covid-19 increases, the economy slumps into recession and corporate defaults rise, a prominent distressed debt investor has warned.
No final dividend for Central Asia Metals shareholders
Central Asia Metals reported group gross revenue of $180. 8m in its full-year results on Wednesday, down from $204. 2m year-on-year, with group net revenue sliding to $171. 8m from $194. 4m.
Wednesday broker round-up
Intercontinental Hotels Group: RBC Capital Markets upgrades to outperform with a target price of 4,000p.
Rio Tinto accused of violating human rights at Papua New Guinea plant
Mining giant Rio Tinto was accused of “multiple human rights violations” at its Panguna mine in Papua New Guinea after leaving people with poisoned water, polluted fields and a ruined river valley.
Do not come to AGM, says Apax Global Alpha
Apax Global Alpha updated the market in light of the Covid-19 coronavirus outbreak on Wednesday, saying it was closely monitoring the impact of the pandemic.
ValiRx raises £0.2m through placing with new investors
Clinical stage biotechnology company ValiRx announced on Wednesday that it has conditionally raised £0. 2m gross through the issue of 5,714,288 new ordinary shares at a post-reorganisation price of 3. 5p each, with new investors.
Trump warns of 'painful' weeks ahead as coronavirus crisis hits US hard
US President Donald Trump warned of “painful” and “tough” two weeks ahead as he extended the social distancing measures across the country while predicting around 100,000 to 240,000 deaths from the Covid-19 pandemic.
Stockpiling by worried consumers sees demand jump at Robinson
Covid-19 stockpiling has caused demand to spike at Robinson, the packaging specialist confirmed on Wednesday, as it posted a jump in full-year revenues.
RHI Magnesita pulls dividend as tough conditions persist
Refractory products company RHI Magnesita pulled its dividend and said difficult market conditions in the second half of 2019 had continued in the first quarter of 2020.
Supreme Court rules in favour of Morrisons over data breach
The Supreme Court has ruled that Wm Morrison cannot be held responsible for a data breach that led to the payroll data of thousands of employees being leaked.
Christie Group no longer expects to turn a profit in 2020
Professional and financial services provider Christie Group no longer anticipates turning a profit in 2020.
LPA Group scales back output in response to Covid-19
LED lightning systems manufacturer LPA Group warned on Wednesday that output would be scaled back as a result of the Covid-19 outbreak.
Touchstar trades in line, warns of 'prolonged uncertainty'
Logistics services group Touchstar traded in line with expectations during the first quarter but warned of tougher times ahead as it kicked off talks with its lenders regarding its capital position.
Europe midday: Stocks fall sharply at start of Q2 as factory data disappoints
Stocks on the Continent have gotten off to a poor start for the second quarter with analysts pointing to the still impending peak in coronavirus cases in the States and poor economic data as the reasons for the weakness.
Investors urged to waive limits on fundraisings during crisis
Investors should consider waiving limits on equity fundraisings to help companies through the coronavirus crisis, an influential industry group recommended.