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Pin to quick picksMosman Oil Gas Share News (MSMN)

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LONDON MARKET MIDDAY: Pound Weighs On FTSE 100; CyanConnode Surges

Mon, 30th Dec 2019 11:59

(Alliance News) - Stocks in London were broadly lower at Monday midday as investors cashed in gains from a record run last week, while the pound advanced against the dollar hurting the FTSE 100 index.

The large-cap index was down 30.60 points, or 0.4%, at 7,614.30 Monday midday. The mid-cap FTSE 250 index was down 36.88 points, or 0.2%, at 22,022.11. The AIM All-Share index was up 0.4% at 958.00.

The Cboe UK 100 index was down 0.3% at 12,900.58. The Cboe 250 was down 0.1% at 19,920.00 and the Cboe Small Companies up 0.3% at 12,231.39.

Sterling was quoted at USD1.3117 Monday midday, higher than USD1.3092 at the London equities close on Friday.

"The pound may stabilise and possibly rally into January and February before trade negotiations come to back to haunt in mid-March ahead of the European Council," said AxiTrader Strategist Stephen Innes.

Total capital issuance in the UK fell month-on-month in November, according to numbers released by the Bank of England.

Gross capital issuance by UK residents was down 8.7% to GBP36.7 billion from GBP40.2 billion in October. It also represents a 13% decrease from the GBP42.0 billion monthly average in the six months prior.

In the year-to-date, gross issuance came in at GBP429.6 billion, up 1.7% year-on-year from GBP422.6 billion. In the month of November, gross bond issuance was down by 24% to GBP27.2 billion from GBP20.6 billion in October.

In mainland Europe, trade was also subdued. The CAC 40 in Paris was flat and the DAX 30 in Frankfurt 0.1% lower in early afternoon trade.

The euro was quoted at USD1.1092 on Monday at midday, firm on USD1.1175 late Friday. Against the yen, the dollar was quoted broadly flat at JPY109.13 versus JPY109.47 late Friday.

Wall Street is on course for a mild open. The Nasdaq Composite is called 0.1% lower, and both the S&P 500 and Dow Jones Industrial Average are seen opening flat.

On the London Stock Exchange, Smiths Group was down 0.6% after the Sunday Times reported that Andy Smith is likely step down as chief executive upon completion of the spin-off of the FTSE 100 engineer's medical business.

Smith, who has been chief executive of Smiths since 2015, has been under fire since the company was forced to abandon a merger of the medical unit with American firm ICU Medical, the newspaper reported.

In September 2018, Smiths confirmed that talks with ICU for a deal fell through. According to the Sunday Times, the Smiths board was unhappy with the terms of the deal.

Elsewhere, radio frequency technology provider CyanConnode surged 78% as it has secured an order for 33,000 smart metering solutions units in Thailand, a new territory for the firm.

Under the agreement CyanConnode said it will supply its hardware, head end system and annual maintenance services. Hardware deliveries will start in 2020, with deliverables for the integrated system commencing immediately.

As part of the contract, CyanConnode said it will receive an upfront payment at the time of order of around USD400,000, which is about 25% of the contract value.

Mosman Oil & Gas was up 7.1% after reporting progress at GEM International Resources, a Vancouver-based investee which recently raised new capital and conducted a debt for equity swap.

GEM raised CAD400,000, roughly GBP233,482, by issuing 8.0 million shares at five Canadian cents each.

Also, GEM completed a debt for equity swap for CAD270,000, meaning it has settled debt in exchange for new shares.

A remaining loan amount of CAD50,000 owed by GEM to Mosman has been repaid. Mosman now owns 1.8 million, roughly 9.0%, of the shares in GEM.

London-listed Mosman said: "GEM will now continue with its objective of securing an interest in a new project. Mosman is encouraged by this development and looks forward to the next step in GEM's revitalisation."

In commodities, gold was quoted at USD1,510.90 Monday midday, softer than USD1,514.27 at the London equities close on Friday. Brent oil was trading at USD67.14, lower versus USD68.14 at the close on Friday.

The economic events calendar on Monday has US goods trade balance at 1330 GMT.

By Evelina Grecenko; evelinagrecenko@alliancenews.com

London Market Midday is available to subscribers as an email newsletter. Contact info@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

More News
27 Mar 2024 12:04

EARNINGS: Mosman loss wider on production fail; PipeHawk "optimistic"

(Alliance News) - The following is a round-up of earnings for London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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4 Mar 2024 14:14

Mosman Oil & Gas commits to long lead items at EP 145 in Australia

(Alliance News) - Mosman Oil & Gas Ltd on Monday said that it has committed to long lead items for the seismic acquisition programme at EP 145, its project in Australia.

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16 Feb 2024 14:31

Mosman reports uptick in production at Stanley project

(Sharecast News) - Hydrocarbon, helium and hydrogen explorer, developer and producer Mosman Oil and Gas announced a substantial uptick in production at its Stanley project in the United States on Friday.

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16 Feb 2024 12:18

IN BRIEF: Mosman Oil & Gas says Stanley project gross production rises

Mosman Oil & Gas Ltd - Oil exploration, development, and production company with projects in the US and Australia - Says gross production at its Stanley project in the US has increased to around 93 barrels of oil per day, a "material improvement" from quarter gross average flow rate of 43 bopd the firm reported in December. Says this has been achieved following a period of production equipment reconfiguring and optimisation, including the installation of surface and downhole equipment to boost production with jet pumps.

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2 Feb 2024 15:21

Mosman raises £0.3m to bolster working capital

(Sharecast News) - Mosman Oil and Gas had raised £0.3m, it announced on Friday, through the placing of 2,400,000,000 shares.

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2 Feb 2024 10:44

Mosman Oil & Gas down after discounted fundraise for Amadeus licences

(Alliance News) - Shares in Mosman Oil & Gas Ltd sank after the company announced GBP300,000 placing offer, but the company said that the proceeds were required for two northern Australian licences.

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31 Jan 2024 15:27

UK shareholder meetings calendar - next 7 days

Thursday 1 February 
Cerillion PLCAGM
Keystone Positive Change Investment Trust PLCAGM
Sage Group PLCAGM
Friday 2 February 
Tectonic Gold PLCAGM
Monday 5 February 
no events scheduled 
Tuesday 6 February 
Blackrock Frontiers Investment Trust PLCAGM
Qinetiq Group PLCGM re share buyback authorisation
Ten Lifestyle Group PLCAGM
Wednesday 7 February 
Asos PLCAGM
eEnergy Group PLCGM re disposal of Energy Management division
Future PLCAGM
Mosman Oil & Gas LtdEGM re director participation in placing
Premier Miton Group PLCAGM
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
23 Jan 2024 11:51

Mosman Oil extends termination date for farm-in agreement

(Alliance News) - Mosman Oil & Gas Ltd on Tuesday said it has agreed to amend the farm-in agreement, extending a termination date.

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15 Jan 2024 12:02

Mosman lodges EP 145 asset environment plan for approval in Australia

(Alliance News) - Mosman Oil & Gas Ltd on Monday said it has lodged an environmental management plan to the Northern Territory government in Australia for its EP 145 project.

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6 Dec 2023 10:56

Mosman Oil & Gas shares rise on improved production at Stanley

(Alliance News) - Mosman Oil & Gas Ltd on Wednesday celebrated improved production at the Stanley project in the US, after recent work revamping the site.

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29 Nov 2023 14:30

EARNINGS AND TRADING: Northern Bear boosts profit, Esken loss widens

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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8 Nov 2023 15:25

Mosman Oil & Gas revenue ticks up despite "challenging" year

(Alliance News) - Mosman Oil & Gas Ltd on Wednesday said its loss narrowed and revenue ticked up, despite a "challenging" year..

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6 Nov 2023 12:04

LONDON MARKET MIDDAY: Tepid start to new week as investors take stock

(Alliance News) - London's FTSE 100 drifted marginally lower heading into Monday afternoon in uncertain trade as investors reassess the near-term outlook for equity markets after a bullish week for stocks last week.

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6 Nov 2023 11:36

Mosman Oil & Gas production down as Cinnabar and Stanley fall short

(Alliance News) - Mosman Oil & Gas Ltd on Monday said production fell in the third quarter as low production from its Cinnabar and Stanley wells dragged the figures downward.

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16 Oct 2023 11:27

IN BRIEF: Mosman shares surge on Greenvale farm-in agreement

Mosman Oil & Gas Ltd - Sydney-based, Australia and US-focused oil and gas company - Signs farm-in agreement with Greenvale Energy Ltd subsidiary Greenvale Gold Pty Ltd, to fund seismic and drilling on Mosman's EP 145 project in Australia's Northern Territory. Mosman will retain a 25% working interest in EP 145, while Greenvale will earn a 75% interest. Greenvale will pay AUD160,000 cash within five days of completion, and fund the project's Year 3 and Year 4 Work Programs.

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