Company News
Thursday preview: ECB speakers, BAE Systems in focus
Financial markets' focus will shift towards this side of the Pond on Thursday as two top European Central Bank officials take to the podium against a backdrop of rising government bond yields.
Jangada sells two million shares in ValOre Metals
Natural resources company Jangada Mines has sold two million of its common shares in ValOre Metals at a price of 30 Canadian cents per share, it announced on Wednesday, providing it with gross proceeds of CAD 0. 6m (£0. 34m).
Joby to go public in $6.6bn merger with blank-check firm
Joby Aviation, the 12-year-old electric air taxi startup will go public in a $6. 6bn reverse merger with blank check company Reinvent Technology Partners.
Lekoil challenges validity of agreement termination letter
Nigeria and West Africa-focussed gas exploration and production company Lekoil announced on Wednesday that Mayfair Assets and Trusts, in which it has a 90% economic interest, had received a letter from Optimum Petroleum Development Company, the operator of the OPL 310 licence, proposing to terminate the cost and revenue sharing agreement on the licence.
Echo lays out plans to debottleneck pipelines at Santa Cruz Sur
Latin America-focussed upstream oil and gas company Echo Energy updated the market on operations at its Santa Cruz Sur assets, onshore Argentina on Wednesday, reporting that following continued improvements in market conditions, it had agreed with the Santa Cruz Sur partners to capital expenditure to upgrade and debottleneck the existing liquids pipelines in the assets.
Haydale Graphene revenues fall in first half
Advanced materials company Haydale Graphene reported a 5% fall in group revenues in its interim results on Wednesday, to £1. 28m.
JP Morgan launches coverage of ITM Power
JP Morgan Cazenove has initiated coverage of renewable energy specialist ITM Power with an ‘overweight’ rating.
Best of the Best ends formal sale process as strong trading continues
Online competition operator Best of the Best updated the market on the “continuing strength” of trading through its third quarter on Wednesday, also reporting that it had concluded its review of options under a formal sale process, which it launched in June.
Alba Mineral Resources begins work on Gwynfynydd licence
Alba Mineral Resources updated the market on the latest planned phase of work at its Dolgellau Gold Exploration Project in north Wales on Wednesday, reporting that the next step would involve stream sediment sampling.
Mkango begins flotation plant testing on Songwe Hill
Mkango Resources announced the start of flotation pilot plant test work for the Songwe Hill Rare Earths project in Malawi on Wednesday.
Icon to buy PRA Health Sciences in $12bn deal
US outsourced drug and device developer Icon has agreed to buy PRA Health Sciences in a $12bn cash and stock deal.
N4 Pharma losses widen as it works on commercialising Nuvec
Pre-revenue specialist pharmaceuticals company N4 Pharma reported an operating loss of £1. 56m in its final results on Wednesday, widening from the £0. 95m loss a year earlier.
IronRidge reports solid progress at Ewoyaa project
Africa-focussed minerals exploration company IronRidge Resources updated the market on drilling activities at the Ewoyaa Lithium Project in Ghana on Wednesday, where it defined a JORC-compliant mineral resource estimate of 14. 5 million tonnes at 1. 31% lithium oxide in the inferred and indicated category.
IA steps up calls on companies to boost board diversity
The Investment Association is to flag up companies that are failing to meet ethnic and gender diversity targets for its boards, it announced on Wednesday.
Covid-19 testing focus underpinning progress at Novacyt
Clinical diagnostics company Novacyt updated the market on the progress of its near-term research and development programmes on Wednesday, including the expansion of its product portfolio, clinical trial activity and the publication of independent validations of its Covid-19 tests.
Renalytix AI enters partnership with Univeristy of Utah Health
Artificial intelligence (AI) diagnostics company Renalytix AI announced a partnership with the University of Utah on Wednesday, to improve kidney health and reduce the risk of kidney failure for large-scale populations in the earliest stages of kidney disease.
Angling Direct maintains 'positive sales momentum' amid pandemic
Fishing tackle and equipment retailer Angling Direct said on Wednesday that it had successfully maintained "positive sales momentum" in the year ended 31 January and now expects to report a 27% jump in full-year revenues.
Lloyds annual profits plunge 72%, reinstates dividend
Lloyds Bank reported a 72% slump in annual profits, reflecting the impact of the Covid-19 pandemic, but reinstated dividend payments and said it would focus on its insurance and wealth businesses.
Covid-19 weighs heavily as losses widen at Metro Bank
Metro Bank saw losses widen significantly last year, as the Covid-19 pandemic dented income and saw customers default on loans.
Aviva to exit Turkey as it sells stake in joint venture
Aviva has agreed to sell its entire 40% shareholding in its joint venture in Turkey, Aviva SA, it announced on Wednesday, to Ageas Insurance International for £122m cash.