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EXCLUSIVE: Ascent Resources ask shareholders for ability to raise funds

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Morning Shot

Morning Shot

Mon, 4th Dec 2017 - Author: Morning Shot

Equities in the Asia-Pac region didn't have the best session overnight with the ASX down 0.07% and the Nikkei down -0.42%. Chinese equity markets were mixed Shanghai Comp. was the only index lower down 0.22%. Focus today will be on Brexit as PM May will meet EU's Junker. 

In the commodities markets there is no real firm direction, base metals are all over the place this morning. Copper trades higher by 0.60% along with nickel (+1%) and lead, aluminium and zinc are all lower.

In energy markets, spot WTI still consolidates in generally higher ground at $57.91/bbl after all the OPEC excitement last week. Nat Gas gained overnight and trades higher by 2.11% but still is in its strong consolidation area between $2.75 - 3.16.

Gold has pushed back after the rise following the Flynn fiasco on Friday and the yellow metal currently trades at $1273/oz if the situation gets any worse we can look to the consolidation high of around $1305/oz. Silver briefly tested below the support at $16.33/oz, but has now moved lower once more and may test the level again. 

In FX markets, The USD has recouped ground on mis-reporting from ABC news that ex national security adviser Flynn was to testify against president Trump that he directed him to contact the Russians as a 'candidate'.  This was corrected to say 'as president elect'. The initial (mis)reporting took the shine of the positive reaction to the Senate vote (51-49) for the tax cut bill, which now goes to resolution with the House. USD/JPY fell into the mid 111.00's on Friday, but recovered above 112.00 on the close, buy we have since gone on to push just above the highs seen ahead of the errant ABC report.   


Morning Stories 

Rio Tinto stated they have appointed Simon Thompson as its next chairman, succeeding Jan du Plessis, who will step down after serving almost nine years as chair.

Hampered by the collapse of its merger with Deutsche Boerse and battered by the abrupt departure of its CEO, the London Stock Exchange (LSE) may find Brexit buys it time to get its house in order.

Pennant International Group has announced that it has entered into a teaming agreement with Capewell Aerial Systems LLC (a global provider of engineered products for aerial delivery, life support and tactical gear for military, law enforcement and humanitarian agencies worldwide)("Capewell").

WANdisco is set to launch an equity raise later today including a placing by way of an accelerated bookbuild to raise gross proceeds of a minimum of $10.0 million ("Placing"). In addition, certain existing shareholders intend to sell in aggregate 1,045,000 existing ordinary shares of 10 pence each in the capital of the Company ("Sale Shares") at the price of 550 pence (including by the directors, David Richards and Yeturu Aahlad, in respect of 845,000 Sale Shares). It is expected that the Placing, when launched later today, will be conducted at the same price of 550 pence per new ordinary share of 10 pence each in the capital of the Company.

Frontera Resources Corporation Mobilisation of Workover Rig to Dino-2 Well


RhythmOne PLC highlights -

- Total revenues from Continuing Operations of $114.5M (H12017: $66.8M), up 72% year-on-year

- Adjusted EBITDA(1) of $3.1M, an improvement of $5.7M (H12017: $2.6M Loss)

- RhythmOne on-platform revenues of $44.4M (H12017: $35.5M), up 25% year-on-year


Solo Oil has announced recent technical progress by Helium One Limited ("Helium One"), the pure play helium explorer in Tanzania in which Solo currently holds a 10% shareholding interest.

Genel Energy has announced an update on activity at the Taq Taq field (Genel 44% working interest).

The TT-29w well, which was drilled to appraise the northern flank of the Taq Taq field, has been completed as a producer after successfully encountering oil bearing Cretaceous reservoirs.

Unilever PLC Unilever completes EUR5bn share buyback programme.

National Express Group - Continued positive trading and new acquisitions sustain year end momentum

The Co. has announced that it has completed two small acquisitions in November; one each in the US and Spain. Both acquisitions will enable further expansion in target markets.


What to look out for

Brexit talks, Eurogroup meetings, UK construction PMI and US Factory orders


The Writer's views are their own, not a representation of London South East's. No advice is inferred or given. If you require financial advice, please seek an Independent Financial Adviser.


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