Market Report
Pendragon surges as investors welcome in-line results after tough time
Profit at car dealership Pendragon dropped nearly 20% in the year to 31 December 2017 as operating margins declined and new vehicle revenue slid, but after a profit warning from the group in October and amid more general car market woes, investors were relieved that the numbers were in line.
Sumitomo Mitsui signs lease for three floors at British Land's Broadgate development
British Land said on Tuesday that Sumitomo Mitsui Banking Corporation Europe - a subsidiary of Japan's Sumitomo Mitsui Banking Corp - has signed a 20-year lease for the first three floors of the Liverpool Street redevelopment at Broadgate.
Morrisons agrees Channel Islands wholesale deal with Sandpiper
Morrisons has struck a long-term commercial agreement with the leading operator of retail outlets in the Channel Islands.
Tui shares fly to new heights after strong first quarter
Tour operator Tui jetted off to a strong start for its financial year with sales and underlying earnings both much improved on last year, sending its shares to fresh highs.
RWS Holdings says first quarter trading in line
Language, intellectual property support services and localisation provider RWS Holdings said on Tuesday that first-quarter trading has been in line with expectations.
Eland reports positive progress at Opuama
Oil and gas production and development company Eland Oil & Gas updated the market on the Opuama-8 and Opuama-9 wells in licence OML 40 on Tuesday.
Diurnal gets EC marketing authorisation for Alkindi
Specialty pharmaceutical company Diurnal Group announced on Tuesday that the European Commission has granted a paediatric use marketing authorisation for ‘Alkindi’ as a replacement therapy of adrenal insufficiency in infants, children and adolescents.
Oncimmune spends first half progressing agreements
Early cancer detection company Oncimmune Holdings announced its interim results for the half year ended 30 November on Tuesday, reporting continued commercial progress with its ‘EarlyCDT-Lung’ product as a framework agreement with Genostics Company for China was signed.
Pan African Resources revises guidance as it overcomes challenges
Pan African Resources updated the market on its progress for the six months ended 31 December on Tuesday - a period which saw the group further implement its strategy to provide a platform of stability at its operations at Barberton Mines and Evander Mines, as well as improved and sustainable cash flows and production for the second half of the year.
London open: Stocks flat as investors eye inflation figures; Tui rallies
London stocks were steady in early trade on Tuesday, with investors reluctant to make any big bets either way ahead of the release of key UK inflation data.
Magnolia Petroleum makes good progress on WED agreement
US-focussed oil and gas exploration and production company Magnolia Petroleum updated the market on Tuesday, on the ongoing investment of the first $0. 5m tranche of capital it has received as part of its exclusive $18. 5m capital management agreement with Western Energy Development.
Intercede awarded Middle East contract worth more than £1m
AIM-listed software and service company Intercede has been awarded a contract by a Middle Eastern country for its MyID solution worth more than £1m.
Petro Matad makes solid progress with 2018 work programme
Mongolian oil explorer Petro Matad updated the market on its operations as part of its planned 2018 work programme on Tuesday, with the company having completed a $16. 8m fundraising to execute a four well drilling programme on its acreage during the 2018 year.
Amur Minerals enters $10m convertible loan facility
Nickel-copper sulphide mineral exploration and resource development company Amur Minerals Corporation announced on Tuesday that it has entered into a convertible loan facility of up to $10m, with Cuart Investments PCC and YA II PN, in an investment consortium arranged by RiverFort Global Capital.
Aviva Hong Kong venture moves closer to launch
Aviva announced on Tuesday that, along with Hillhouse Capital Group and Tencent Holdings, it has completed the transaction to develop a digital insurance joint venture in Hong Kong.
Computacenter confirms results of £100m share buyback tender
Computacenter posted the results of its tender offer on Tuesday, which was initially set out in a shareholder circular on 23 January, and closed on 9 February.
London pre-open: Stocks seen higher ahead of inflation data
London stocks were set for a firmer open on Tuesday following an upbeat session on Wall Street, although investors were likely to be a little cautious ahead of the release of key UK inflation data.
Tuesday newspaper round-up: Carillion, Trump, RBS, algos
MPs have accused the “big four” accountancy firms of “feasting on what was soon to become a carcass” as it emerged they banked £72m for work linked to collapsed government contractor Carillion in the years leading up to its financial failure. Less than a fortnight before Carillion’s auditor KPMG is due to face questions from MPs on two select committees, the accountant and rivals Deloitte, EY and PricewaterhouseCoopers (PwC) submitted evidence to the inquiry.
US close: Markets continue rebound as Trump unveils infrastructure plan
Wall Street's main indexes finished the session higher on Monday, extending the bounce that began late on Friday, driven by technology and financial issues as stocks did their best to recover from their worst week since 2016.