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London close: Stocks inch higher in shortened session as Santa Rally continues

Wed, 24th Dec 2014 12:46

The UK stock market closed a half-session in positive territory on Christmas Eve to extend its winning streak into the seventh straight day.With trading volumes low - many European markets were already closed for Christmas - London stocks were rangebound for most of the session as investors refrained from taking on too much risk ahead of the four-day festive break.Nevertheless, the FTSE 100 still managed to close 0.2% higher at 6,610 by the end of trade at 12:30.Stock exchanges in Paris and Madrid were also open for a half-day, while markets in Frankfurt and Milan were already closed.Trading volumes were "thinner than the spread on Scrooge's Christmas table", according to analyst Chris Beauchamp from IG. "However the Santa Rally did its work and markets look a lot healthier than they did just a week ago."Also supporting stocks was speculation that Japan's newly re-elected prime minister Shinzo Abe is set to push through a $29bn stimulus package to boost regional economies and low-income households.Stock futures on Wall Street were heading higher ahead of the opening bell with the Dow Jones benchmark index set to extend gains after hitting a new record high of 18,024 on Tuesday on the back of an upwards revision to US growth estimates.The only major economic data release on Wednesday will be US jobless claims figures for last week. Claims are expected to have risen just 1,000 to 290,000 in the week ended 20 December.Financial markets in the US, Europe and parts of Asia will be closed Thursday for Christmas Day. Japan and China, however, remain open.Smith & Nephew a big mover on a quiet news dayShares in Smith & Nephew surged on the back of rumours that US surgical implants group Stryker Corp could return to the table to launch a takeover offer within weeks. According to Bloomberg, which cited "people with knowledge of the matter", Stryker is looking to make a bid at a premium of around 30% to S&N's current share price and is not planning a controversial tax-inversion deal.Financials were also providing a lift with Direct Line, RBS, RSA Insurance and Standard Chartered putting in decent gains.Real estate group Intu Properties fell after buying the Puerto Venecia shopping centre and retail park in Zaragoza, Spain, for €451m. Intu's chief executive David Fischel said Puerto Venecia is "another great addition for the group" and "substantially accelerates our activities in Spain".Among the small-cap stocks, the share price of India-focused Hardy Oil & Gas plunged by 24% after the firm "consented to the relinquishment" of an exploration licence. The company said that $22m of its intangible assets attributable to licence D3 "will be subject to write down in the current financial year". Market MoverstechMARK 2,967.14 +0.45%FTSE 100 6,609.93 +0.18%FTSE 250 16,104.92 +0.07%FTSE 100 - RisersSmith & Nephew (SN.) 1,173.00p +7.71%TUI AG Reg Shs (Post- 16/12/14)(DI) (TUIJ) 1,068.00p +1.33%ITV (ITV) 216.20p +0.98%Royal Bank of Scotland Group (RBS) 394.90p +0.95%AstraZeneca (AZN) 4,555.50p +0.86%Standard Chartered (STAN) 958.40p +0.78%Centrica (CNA) 284.70p +0.78%Weir Group (WEIR) 1,927.00p +0.78%British Land Co (BLND) 781.50p +0.77%Tesco (TSCO) 186.00p +0.76%FTSE 100 - FallersIndivior (INDV) 145.00p -3.33%Randgold Resources Ltd. (RRS) 4,153.00p -2.05%Shire Plc (SHP) 4,470.00p -1.39%BHP Billiton (BLT) 1,369.00p -0.98%Johnson Matthey (JMAT) 3,396.00p -0.93%Schroders (SDR) 2,690.00p -0.88%Coca-Cola HBC AG (CDI) (CCH) 1,246.00p -0.80%Admiral Group (ADM) 1,336.00p -0.74%Experian (EXPN) 1,095.00p -0.73%Old Mutual (OML) 190.20p -0.73%FTSE 250 - RisersAlent (ALNT) 344.20p +4.59%Dechra Pharmaceuticals (DPH) 849.50p +2.91%SSP Group (SSPG) 294.10p +2.69%Micro Focus International (MCRO) 1,107.00p +2.59%De La Rue (DLAR) 530.50p +2.31%COLT Group SA (COLT) 135.00p +2.27%Ophir Energy (OPHR) 143.70p +2.20%Kier Group (KIE) 1,515.00p +2.16%Barr (A.G.) (BAG) 604.00p +2.11%Petra Diamonds Ltd.(DI) (PDL) 195.50p +2.09%FTSE 250 - FallersCentamin (DI) (CEY) 56.35p -6.32%Stock Spirits Group (STCK) 218.00p -5.63%Afren (AFR) 49.00p -3.54%Vedanta Resources (VED) 574.00p -3.37%NMC Health (NMC) 465.00p -3.02%Jimmy Choo (CHOO) 170.00p -2.86%Rathbone Brothers (RAT) 1,977.00p -2.37%Synergy Health (SYR) 2,031.00p -2.17%Polymetal International (POLY) 544.00p -2.07%RPS Group (RPS) 214.00p -2.01%
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7 Nov 2013 10:09

Hardy Oil & Gas Developing Operations In India

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6 Nov 2013 15:13

Son of Air Partner founder sells shares and announces retirement

Tony Mack, Non-Executive Director of Air Partner, a provider of aviation charter services, has reduced his stake by over a third and announced his plans to retire in June next year. He sold a total of 360,067 shares, reducing his stake to 700,000 shares, equal to 6.8% of the issued share capital.

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6 Nov 2013 13:00

DIRECTOR DEALINGS: Hardy Oil and Gas Non-Executive Director Sells 500,000 Shares

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18 Mar 2013 16:28

Jupiter Fund Management Chief disposes of 750,000 shares

Edward Bonham Carter, the Group Chief Executive of Jupiter Fund Management, has traded in 2.65m pounds-worth of shares just a few weeks since the group boosted its total dividend for 2012 by 13 per cent. Bonham Carter sold 750,000 shares at 350.75p a time, making a modest dent in his stake which n

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7 Mar 2013 13:43

Hardy Oil and Gas poised to serve Indian energy market

India-focused Hardy Oil and Gas has unveiled its preliminary results for the year ended December 31st, showing cash used from continuing operations before movements in working capital of 6.8m dollars. Cash and short-term investments at December 31st amounted to $29.1m compared to $36.5m in 2011 and

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10 Jan 2013 13:38

Hardy Oil and Gas in negotiations over GS-01 exploration block

Hardy Oil and Gas, an oil and gas exploration and production company with assets in India, has confirmed media reports that it is in negotiations with the operator of the GS-01 exploration block located offshore the west coast of India. In a statement the group said: "Hardy confirms that it is in n

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25 Jun 2012 08:56

Monday broker round-up

African Barrick Gold: Nomura cuts target from 685p to 670p, buy rating unchanged. Aquarius Platinum: UBS cuts target from 110p to 55p, neutral rating kept. Avocet Mining: Nomura downgrades from buy to neutral, cuts target from 310p to 220p. Bovis Homes: UBS upgrades from sell to neutral, 465p tar

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6 Jun 2012 15:54

Tracsis tech officer ditches shares

Raymond Kwan, the Chief Technical Officer of Tracsis ditched 750,000 shares on the same day the firm announced that it considers it likely that the company will exceed current market expectations for the year ended July 31st 2012. Tracsis is a developer, supplier and aggregator of resource optimis

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24 Apr 2012 09:27

Resource round-up: Forum Energy, Berkeley Resources, Jupiter Energy, Hardy Oil & Gas

UK oil and gas firm Forum Energy has confirmed its natural gas discovery at Recto Bank in the disputed South China Sea contains more reserves than initially thought. In an announcement to the Philippines Stock Exchange earlier, Philex Petroleum Corp said Forum had a report that "is expected to show

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1 Mar 2012 10:30

Small caps round-up: K3, Densitron, Innovation...

Software firm K3 Business Technology Group has received a number of indicative proposals at levels materially higher than the current share price, which it will explore these under a formal sale process and is now consequently in an offer period. Shares in the firm leapt 21.75 percent to 187.50p.

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