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Shares of those firms that are more insulated from fallout of the Covid-19 pandemic paced gains at the end of the week, after the government unveiled a stricter tiered system that would take effect when the latest national lockdown ends on December 2, with tier 3 the most severe.
European shares meandered higher at the end of the week, with a weaker London market dragging on sentiment throughout much of the session as the UK government unveiled tough new post-lockdown measures.
London stocks managed to break through the waterline to close marginally higher on Friday, as investors mulled the economic impact of coronavirus restrictions following news on England’s post-lockdown tiers.
Citi downgraded its recommendation on shares of challenger bank Virgin Money on Friday to ‘neutral’ from ‘buy’, pointing to the stock’s recent outperformance.
US automobile safety officials on Friday said they had opened an investigation into 115,0000 Tesla vehicles over safety issues linked to their suspension systems.
Greenland and Finland-focussed exploration and development company Bluejay Mining updated the market on its offtake negotiations for the Dundas Ilmenite in Greenland on Friday.
Citi downgraded its recommendation on shares of challenger bank Virgin Money on Friday to ‘neutral’ from ‘buy’, pointing to the stock’s recent outperformance.
Caribbean Investment Holdings announced on Friday that the proposed purchase of Scotiabank Belize (SBL) from Scotiabank Caribbean, a subsidiary of the Bank of Nova Scotia, for an initial purchase price of up to $30. 5m, has been approved by the Central Bank of Belize.
Advanced materials company Haydale announced on Friday that IRPC had completed the development project with the firm, and started production of its new washable functionalised graphene-enhanced fabric mask.
Specialty insurance company Randall & Quilter announced on Friday that its wholly-owned subsidiary R&Q Re Bermuda, has entered into a stock purchase agreement to acquire a Bermuda-domiciled captive insurance company.
Caribbean and Atlantic margins-focussed oil and gas company Bahamas Petroleum updated the market on cost estimates and funding arrangements for well operations in the Bahamas on Friday, reporting that the sustained impact of Covid-19 meant that itself and Stena Drilling had decided to implement “enhanced” coronavirus mitigation measures.
