Company News
Sports Direct acquires Agent Provocateur for £31m
Lingerie firm Agent Provocateur has been bought by Mike Ashley's Sports Direct for £31m after it fell into administration on Thursday.
Friday preview: Eyes on LSE, WPP, PMI and FOMC commentary
In London on Friday, only a small sprinkling of large-cap stocks report as the macro focus turns to the economy's all-important services sector, while across the Atlantic the drone of Fedspeak turns up to 11 with close readings to be made on the exact wording central bank Janet Yellen's last comments before the March meeting blackout.
Octagonal outlines new South East Asia push
Octagonal announced on Thursday that its wholly owned subsidiary, Global Investment Strategy UK, had now opened a new office in Hong Kong.
Revenue and earnings riper in 2016 at Total Produce
Total Produce took the wraps off its final results for the 2016 calendar year on Thursday, with revenue up 8. 9% to €3. 76bn and adjusted fully diluted earnings per share 14. 1% firmer at 12. 07 euro cents.
Admiral appoints Annette Court as new chair
Annette Court will take over as chair of insurance giant Admiral Group effective from April 2017.
Weak demand and London refurb costs Mandarin Oriental
Mandarin Oriental International posted its preliminary results for the year to 31 December on Thursday, with combined total revenue of hotels under management down 1% to $1. 32bn.
Snap expected to debut at $22 per share as investors lap up stock
The parent company of popular picture messaging app Snapchat has priced its initial public offering at $17 per share, with latest trading suggesting it will enter the NYSE at around $22 per share.
Small cap news round-up
Sunrise Resources' shares are up almost 5% as it reported rapid progress by Magmatics in testing of the CS Deposit for the production of natural pozzolan, and was pleased it could move so quickly to certification testing.
Spirent Communications takes a hit as it focuses on 'sustainable growth'
Spirent Communications posted its full-year results for the 2016 calendar year on Thursday, with revenue softening to $457. 9m, compared to $477. 1m in 2015.
Sportech to sell off the Football Pools in £83m deal
Sports gambling operator Sportech, alongside OpCapita, announced on Thursday that a conditional agreement had been entered into under which FP Acquisitions - a newly incorporated private limited company controlled by funds advised by OpCapita - would acquire the Football Pools business for a total cash consideration of £83m on a debt free, cash free basis.
FastForward Innovations to sell stake in nanopayments firm to Blue Star Capital
AIM-listed investor FastForward Innovations is to sell its stake in investee company SatoshiPay, a nanopayments provider, to Blue Star Capital, a technology investment firm, for €500,140.
Gocompare.com's shares fall as FY profit, EPS slip lower
Shares in Gocompare. com fell almost 6% after its full-year pre-tax profit and earnings-per-share slipped, with the company saying it had performed well in what was a transformational period.
Results round-up: Capita, Schroders, Merlin Entertainments, Cobham
It was exits all round for outsourcing firm Capita as it lost a chief executive and a place in the FTSE 100, all while delivering another under par financial performance with reported full year profits slumping by 33% to £74. 8m.
Broker tips: Debenhams, IAG, CRH, Genus
Department store Debenhams was under the cosh after Berenberg downgraded the stock to ‘sell’ from ‘hold’ and cut the price target to 46p from 75p.
De Beers begins production at world's largest new diamond mine
Anglo American's De Beers subsidiary began commercial production on Thursday at Canada's Gahcho Kué, which is said to be the world's largest new diamond mine in the last 13 years.
Savannah Resources raises £1.01m in subscription
Savannah Resources announced on Thursday that, further to its recent cash placing and subscription to raise £2. 24m, announced on 22 February, the company's chairman Matthew King and it major shareholder Al Marjan had now subscribed for 19,205,564 new ordinary shares at a price of 5. 25p each, raising cash proceeds of £1. 01m.
Diurnal enters Israeli market for adrenal insufficiency therapies
AIM-listed pharmaceutical Diurnal has signed a marketing and distribution deal with Israeli healthcare products firm Medison Pharma for its adrenal insufficiency therapies.
Morses Club upbeat ahead of preliminary results
Home collected credit lender Morses Club updated the marker on its trading for the 52-week period to 25 February on Thursday, ahead of its preliminary results announcement, due on 27 April.
LafargeHolcim admits to financing armed groups in Syria
Cement corporation LafargeHolcim has confirmed that its staff supplied armed groups in Syria with funding in order to ensure operations at its plant in the north of the country would continue to function.
HML buys Gordon & Co block management business
Property management, insurance and ancillary services provider HML Holdings announced the acquisition of the block management business of Gordon & Company Property Consultants, the flats and estates property management business of Gordon & Company, on Thursday.