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LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Friday.
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FTSE 100 - WINNERS
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Hammerson, up 0.5%. The retail property investor said it is selling a 50% stake in the Watermark development in Southampton to Singapore sovereign wealth fund GIC Private for GBP48.5 million. The retail property investor said the Watermark development is located adjacent to the Westquay shopping centre and comprises of 17,000 square metres of leisure and dining space. GIC is Hammerson's joint venture partner for the Westquay centre.
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FTSE 100 - LOSERS
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Fresnillo, down 0.7%. Fresnillo was giving back some gains after benefiting from gold's post-Christmas rally, with the miner still up 9% since Wednesday. Gold was quoted at USD1,160.49 an ounce Friday morning, compared to USD1,155.96 at the London equities close on Thursday.
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FTSE 250 - WINNERS
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Acacia Mining, up 2.2%. Acacia has been another beneficiary of the increased price of gold, up 8% since Wednesday, while fellow gold miner Hochschild was up 0.6%.
NEX Group, up 2.0%, TP ICAP, up 2.7%. TP ICAP said it has completed the acquisition of NEX Group's global hybrid voice broking and information business, with 310.3 million new TP ICAP shares allotted to NEX shareholders, giving them a 56% stake in the former Tullett Prebon. Meanwhile, NEX said its share consolidation will become effective from Friday, at which point the total issued ordinary share capital of NEX will be 379.7 million ordinary shares.
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MAIN MARKET AND AIM - WINNERS
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Kodal Minerals, up 47%. The miner said the final 44 rock-chip samples collected from the Bougouni project in southern Mali have confirmed further high-grade lithium mineralisation at the site. Assay results from the sampling showed grades of up to 2.03% lithium oxide at a newly-identified pegmatite vein located to the south of the Bougouni concession area, while rock-chip sampling confirmed high-grade lithium mineralisation at the Ngoualana prospect with assays up to 1.9% lithium oxide.
Pantheon Resources, up 14%. The oil and gas exploration and development company reported the discovery of two "potentially significant zones" at a project in Tyler County, East Texas, in which it owns a 50% working interest. Pantheon said drilling operations encountered two "separate, potentially significant, hydrocarbon-bearing zones" at the VOBM 4 well in Texas before reaching both the primary and secondary targets. Both the formations will be tested before any further drilling to deeper depths is completed, and a lower cost workover rig has been brought in to carry out this testing.
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MAIN MARKET AND AIM - LOSERS
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Inspirit Energy Holdings, down 16%. The group reported a narrowed pretax loss for its financial year ended June 30, and was positive about the progress being made in commercialising its boiler product, the Inspirit Charger. The company did not generate any revenue in the year, but said it was "getting closer" to the commercialisation of its microCHP boiler Inspirit Charger, a micro combined heat and power boiler. Inspirit said it had focused on sales and marketing over the period, as part of the process of ensuring its distribution partners are in place ahead of the boiler's commercial launch.
By Lucy Heming; lucyheming@alliancenews.com
Copyright 2016 Alliance News Limited. All Rights Reserved.
6 Mar 2023 15:23
Pantheon returns Alkaid 2 well to production testing
(Sharecast News) - Alaska North Slope-focussed oil company Pantheon Resources said in an update on Monday that the Alkaid 2 well has returned to production after the cleanout of the sand blockage in the final 1,000 feet of the wellbore.
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