Empiric Share News (ESP)

LONDON (Alliance News) - Shares opened slightly higher in a shortened Christmas Eve session Thursday, as miner Sirius Minerals delivered an early present for investors, announcing a significant offtake agreement in China for the purchase of polyhalite from its York Potash Project.

The agreement with Huaken International is for a period of seven years from first production and pricing is based on a formula linked to inputs that are consistent with a number of the company's other offtake agreements, Sirius said.

Shares in Sirius were up 3.9% shortly after the market open.

The London Stock Exchange closes early for trading Thursday at 1230 GMT, while Wall Street shuts at 1800 GMT.

Here is what you need to know at the London market open:
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MARKETS
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FTSE 100: up 0.2% at 6,254.62
FTSE 250: up 0.1% at 17,412.7
AIM ALL-SHARE: up 0.1% at 725.83
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Hang Seng: up 0.4% at 22,138.13
Nikkei 225: closed down 0.5% at 18,789.69
DJIA: closed up 1.1% at 17,602.61
S&P 500: closed up 1.2% at 2,064.29
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GBP: firm at USD1.4894 (USD1.4872)
EUR: firm at USD1.10947 (USD1.0877)

GOLD: firm at USD1,073.86 per ounce (USD1,069.14)
OIL (Brent): flat at USD37.73 a barrel (USD36.92)

(changes since previous London equities close)
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ECONOMICS AND GENERAL
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Thursday's Key Economic Events still to come
(all times in GMT)

09:30 UK BBA Mortgage Approvals
13:30 US Initial and Continuing Jobless Claims
15:30 US EIA Natural Gas Storage
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Economic and price trends have turned favourable, thanks to the stimulus efforts, and the coming year is set to see more progress, Bank of Japan Governor Haruhiko Kuroda said. In a speech in Tokyo, Kuroda said many people were sceptical regarding the prospect of Japan's economy overcoming deflation and achieving the price stability target of 2%, when the central bank launched its qualitative and quantitative easing policy more than two years ago.
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Members of the Bank of Japan's monetary policy meeting noted that the country's economic recovery continues at a satisfactory pace, minutes from the central bank's November 18-19 meeting revealed. The board said that weakness from commodity-exporting economies continue to be the primary downside risk. The members added noted that capex is increasing as industrial profits continue to improve.
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A controversy that arose when a Muslim family was barred from boarding a flight from London to Los Angeles, ruining their planned vacation to Disneyland, triggered calls for an investigation and more demands for an explanation. The family were turned away by a US immigration official stationed at London's Gatwick Airport on December 15. Mohammad Tariq Mahmood, a member of the 11-member family stopped at Gatwick Airport, was quoted by media reports as saying his family, which included his brother, had already checked in online, received boarding passes and reached the boarding gate when they were told they could not board.
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A court in Thailand found two Myanmar migrant workers guilty of the murders of two British tourists on a popular island resort last year. The Samui Provincial Court found Zaw Lin and Wai Phyo guilty of the rape and murder of Hannah Witheridge and the murder of David Miller on Koh Tao in September 2014. Thursday's proceedings were attended by the families of the victims and the defendants, and have drawn much public interest in Britain and Myanmar.
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COMPANIES - FTSE 250
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Segro said it has sold its portfolio of offices on the Bath Road in Slough for GBP325 million. The sale price represents a net initial yield of 5.6%, a topped-up net initial yield of 6.3% and a small premium to book value at June 30. The transaction is expected to complete in January. The proceeds of the sale will be used to reduce Segro's gearing and to fund its development pipeline. The real estate investment trust said it expects the disposal to reduce adjusted post-tax profit by GBP9.5 million in its full financial year.
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Metals miner Polymetal said it has entered into a joint venture with OJCS Polyus Gold, under which the former will work on developing the Nezhdaninskoye gold deposit in Yakutia in Russia. Polymetal will acquire a 50% stake in the JSC South-Verkhoyansk Mining Co business, which holds the rights to the deposit. Under the first stage of the joint venture, Polymetal will acquire a 15.3% stake for a USD18.0 million investment, which will be used to fund the activities of the joint venture. Polymetal will then have the option, following completion of the first phase, to participate in an earn-in arrangement to give it a stake of up to 50% in the venture.
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COMPANIES - LONDON MAIN MARKET AND AIM
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AquaBounty Technologies said the Federal Court in Canada has dismissed an application brought before it to prevent AquaBounty from producing AquAdvantage salmon for commercial use. The Ecology Action Centre and Living Oceans Society had appealed against the decision by the Canadian ministers of Environment and Health to allow production of AquAdvantage salmon for commercial use, but the Federal Court found that the decision was "reasonable" and complied with the Canadian Environmental Protection Act.
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NewRiver Retail said it has exchanged contracts to acquire the Neptune portfolio and three other retail assets for a total of around GBP108.0 million. The retail-focused real estate investor said it has paid GBP92.3 million to acquire the Neptune portfolio, which comprises the Ridings Shopping Centre in Wakefield in West Yorkshire, the Commill Shopping Centre in Darlington in the north east of England and the Capitol Shopping Centre in Cardiff in Wales. The purchase price reflect a net initial yield of 8.0%, NewRiver said.
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Empiric Student Property said it has acquired the freehold of a 241-bed premium student accommodation property in St Andrews in Scotland for GBP26.0 million. Ayton House, which comprises a mixture of studios and four and five-bed ensuite apartments, is located within a ten-minute walk of the University of St Andrews, and has a first year rental guarantee from the vendor, Threesixty Developments.
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Target Healthcare REIT said it has bought a care home in Sheffield. Tapton Court is a 69-bed home built in the 1990s, subsequently closed in 2014, and will now be redesigned and refurbished by Target. The bedrooms will be enlarged and reduced in number to 46, with large ensuite bathrooms, lounges, dining spaces, a conservatory and balcony to be added. The acquisition and refurbishment costs will total GBP3.9 million. Completion is expected in January, with renovations to be completed by September 2016.
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Paragon Diamonds said whilst it has been working to finalise funding for its operations in Lesotho, the delay in funding has meant that it has not been successful in its discussions with nominated advisers, and as a result its shares will be delisted next Tuesday. Paragon Diamonds' broker and nominated adviser Northland Capital Partners resigned in November, and under AIM rules, the company was required to appoint a replacement nomad within a month to avoid its shares being delisted.
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Water management company Hydro International said it has acquired the intellectual property and assets of California-based M2 Renewables Inc for an initial USD1.0 million in cash. Hydro will acquire M2 from Sail Capital Partners and the consideration for the deal could rise to USD10.0 million through deferred payments based on M2 sales over the first five years of ownership.
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COMPANIES - INTERNATIONAL
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Swiss pharmaceutical company Novartis announced that the results of the MEASURE 1 and MEASURE 2 Phase III studies for Cosentyx or secukinumab in ankylosing spondylitis or AS were published in the New England Journal of Medicine. It said the studies demonstrated significant clinical improvements with Cosentyx versus placebo in the signs and symptoms of active AS - a long-term, painful and debilitating inflammation of the spine. Collectively the studies form the largest clinical trial program ever conducted in AS, involving 590 patients.
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Chicago-based Hyatt Hotels said it recently identified malicious software on computers used for processing payments at Hyatt-managed locations. The hotel chain has launched an investigation and engaged leading third-party cyber security experts as soon as it discovered the malware activity.
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Thursday's Scheduled AGMs/EGMs

FinnAust (re BlueJay acquisition)
Emerging Market Minerals
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By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews

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