Market Report
Hastings slumps as Goldman Sachs places 22m shares
Hastings was under the cosh on Friday after Goldman Sachs placed 22 million shares in the insurer.
London midday: Stocks turn higher despite Covid concerns
London stocks had shaken off early losses to trade higher by midday on Friday despite ongoing concerns about a rise in new coronavirus cases and a gloomy economic forecast from ratings agency Moody’s.
SolGold upbeat on recent exploration at Rio Amarillo
SolGold updated the market on its regional exploration activities from its wholly-owned Rio Amarillo Project in northern Ecuador on Friday, reporting that four high-priority porphyry targets were now supported by “high quality” magnetic data.
Berenberg raises target price on Smith & Nephew
Analysts at Berenberg slightly lowered their target price on medical equipment manufacturer Smith & Nephew from £21. 65 to £21. 50 on Friday, stating Covid-19 had raised questions regarding the group's future.
Inspired Energy to raise £35m to fund Ignite acquisition
Energy procurement consultant Inspired Energy proposed a placing of new ordinary shares on Friday as part of an effort to raise funds for the acquisition of Ignite Energy.
SRT Marine recommences Philippines project
Maritime surveillance outfit SRT Marine said on Friday that its Philippines fisheries management system project had recommenced, with the group already having received a "significant cash payment".
Codemasters shares rise on release of 'F1 2020' game
Video game developer and publisher Codemasters announced the release of ‘F1 2020’ on Friday, on the Sony PlayStation 4, Microsoft Xbox One, and PC platforms and, for the first time, Google’s Stadia gaming platform.
Genedrive revenues tumble as Covid-19 hits pre-existing business activities
Molecular diagnostics company Genedrive saw revenues tumble in the year ended 30 June due to the impact of the Covid-19 pandemic on pre-existing business activities.
InfraStrata raises £9m in bid to strengthen balance sheet
Infrastructure company InfraStrata has raised a total of £9m before expenses through a placing of 2,571,428,683 existing shares, at a price of 0. 35p each, in two tranches with existing and new investors, it announced on Friday.
Dalata amends debt facilities as it reopens hotels
Dalata Hotel Group has agreed an amendment to its debt facilities agreement with its banking partners, it announced on Friday, providing “additional financial strength and flexibility” as it reopens all of its 44 hotels.
Citi downgrades Vistry, sees better value elsewhere
Citi downgraded its stance on shares of Vistry to ‘neutral’ from ‘buy’ on Friday as it tweaked its estimates to reflect "a slower fixed cost absorption on the back of the Covid-19 disruption".
Asia report: Markets close weaker as coronavirus cases climb further
Markets in Asia fell across the board on Friday, as the ballooning Covid-19 pandemic continued to cause consternation among investors.
Trans-Siberian Gold upbeat on latest development at Asacha
Russia-focussed producer Trans-Siberian Gold said on Friday that the development of vein 25 (V25) in the east zone of its operating Asacha Gold Mine was progressing well, reporting that the total volume of access development work for stripping completed to date was about 15,400 cubic metres.
Focusrite to pay dividend, says FY results will beat market views
Focusrite said on Friday that results for the year to the end of August are likely to be ahead of market expectations amid increased demand for its products during lockdown and that it will pay an interim dividend.
Tanfield investment Snorkel sees sales plunge amid pandemic
Tanfield updated the market on its investment in aerial work platform company Snorkel International Holdings on Friday, reporting that its sales in the fourth quarter of 2019 were $51. 3m (£40. 76m) - up 7. 4% year-on-year.
Eden Research brings in Aoife Dillon as new head of biology
Biopesticide and encapsulation technology company Eden Research announced the appointment of Dr Aoife Dillon to the role of head of biology on Friday.
Zegona investment Euskaltel shores up debt with new term loan
Telecommunications investor Zegona announced on Friday that its investment Euskaltel has replaced its €215m (£192. 63m) amortising debt with a new €215m term loan, with no amortisation before December 2023.
Proton Motor Power major shareholder converts interest into shares
Fuel cell and electric hybrid systems developer Proton Motor Power Systems announced on Friday that SFN Cleantech Investment has requested the conversion of part of the interest matured on loans provided, into 20,000,000 shares in Proton.
Senior revenues slide as its end markets remain weak
Aerospace and defence technology company Senior reported “robust” cash performance in the half-year ended 30 June on Friday, although it did warn that its revenue would be almost a third lower than the prior year.
London open: Stocks fall amid fears over new coronavirus cases
London stocks fell in early trade on Friday amid ongoing concerns about a jump in new coronavirus cases.