San Leon Share News (SLE)

LONDON (Alliance News) - UK shares have opened higher Tuesday, amid a raft of global economic data released and still to come.

Miners are leading the FTSE 100 higher, benefiting from strong PMI readings from China overnight.  Rio Tinto is the top gainer, up 2.6%. Late on Monday, Merrill Lynch raised the stock to Buy from Neutral.

Meanwhile in AIM, MoPowered Group shares are down 38% at the open after issuing a warning about its revenue outlook.

Here is what you need to know at the UK market open:
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MARKETS
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FTSE 100: up 0.4% at 6,767.98
FTSE 250: up 0.2% at 15,749.22
AIM ALL-SHARE: up 0.1% at 786.46
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Hang Seng: down 0.1% at 23,190.72
Nikkei 225: closed up 1.1% at 15,326.20
DJIA: closed down 0.2% at 16,826.60
S&P 500: closed flat at 1,960.23
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GBP-USD: down at USD1.7101
EUR-USD: down at USD1.3684

GOLD: down at USD1,324.92 per ounce
OIL (Brent): up at USD112.64 a barrel

(changes since end of previous GMT day)
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ECONOMICS AND GENERAL
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Tuesday's Key Economic Events still to come
(all times British Summer Time)

08:45 Italy Markit Manufacturing PMI
08:50 France Markit Manufacturing PMI
08:55 Germany Markit Manufacturing PMI
08:55 Germany Rate
09:00 EU Markit Manufacturing PMI
09:00 Italy Unemployment
09:30 UK Markit Manufacturing PMI
10:00 EU Unemployment Rate
13:00 US Treasury Sec Lew Speech
13:55 US Redbook index
14:45 US Markit Manufacturing PMI
15:00 US Construction Spending
15:00 US IBD/TIPP Economic Optimism
15:00 US ISM Manufacturing PMI
16:30 US 4-Week Bill Auction
21:00 US Total Vehicle Sales
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GERMANY MAY JOBLESS RATE UNCHANGED AT ADJ 5.1%
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IRELAND JUNE FACTORY PMI 55.3 VS. 55 IN MAY
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The Chinese manufacturing purchasing managers' index, or PMI, rose to a six-month high in June after a weak start to the year, the results of a survey by the China Federation Of Logistics And Purchasing and the National Bureau of Statistics showed. The manufacturing PMI rose to 51 in June, in-line with economists' expectations, from 50.8 in May.
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Meanwhile, results of a survey by Markit Economics and HSBC Bank showed China's manufacturing activity rose for the first time in six months in June. The HSBC manufacturing purchasing managers' index, or PMI, rose to 50.7 in June, slightly below the consensus estimate of 50.8, from 49.4 in May. This marked the first signs of improvement since December 2013. New orders rose at its fastest rate in 15 months in June, partially due to the notable improvement in the health sector, and improved market conditions boosted sales. Output grew for the first time since January and the rate of growth was quickest since November 2013.
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Japan manufacturing activity rebounded in June on account of increases in output and new orders, results of a survey by Markit Economics and the Japan Materials Management Association (JMMA) revealed. The Markit/JMMA manufacturing purchasing managers' index increased to 51.5 in June, more than the flash estimate of 51.1, from 49.9 in May. This was the first expansion in three months.
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Business sentiment among large Japanese manufacturers weakened in June, the results of the Bank of Japan's quarterly Tankan survey showed Tuesday. The business confidence index for large manufacturers fell to 12 in three months ended June from 17 in the three months ended March. The index was forecast to come in at 15.
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Ukrainian President Petro Poroshenko announced the resumption of a military offensive against pro-Russian separatists in eastern Ukraine after allowing a ceasefire to expire late Monday. In in a television address following a meeting with top security advisors, the pro-Western president said that Ukraine had spent 10 days showing the world "that we want to peacefully settle this foreign-provoked conflict." Poroshenko accused rebel forces of engaging in "criminal acts" to undermine the "unique opportunity" to implement his peace plan. Poroshenko did not rule out further negotiations with separatists, saying Ukraine was "open to a cease fire on a moment's notice" as soon as all sides show compliance with a peace agreement.
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The US has sent another 200 soldiers to Baghdad to secure the US embassy, its facilities and the international airport against rising instability in Iraq, the Pentagon said Monday. Since jihadist Islamic State in Iraq and the Levant (ISIL) insurgents took over an estimated third of the country in the north in early June, the US has been bolstering its embassy protection. The 200 soldiers, who arrived Sunday and Monday, are in addition to a force of 170 sent in recent weeks to shore up embassy security and the airport, with helicopters and a mobile medical team.
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US President Barack Obama conceded defeat Monday in his years-long push to get Congress to pass immigration reform and vowed to take further executive actions on the issue. Obama said he has directed government agencies to move resources from the US interior to the southern border to help deal with the humanitarian crisis of tens of thousands of unaccompanied children pouring into the US. He vowed to issue more executive orders, based on steps to be identified by the Justice and Homeland Security departments.
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BROKER RATING CHANGES
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UBS REMOVED BUNZL FROM EUROPEAN SUPPORT SERVICES 'LEAST PREFERRED LIST'
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UBS RESUMES G4S WITH 'BUY' - TARGET 310 PENCE
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TRADERS: MERRILL LYNCH RAISES RIO TINTO TO 'BUY' ('NEUTRAL') - Late Monday
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JPMORGAN CUTS STANDARD CHARTERED PRICE TARGET TO 1350 (1450) PENCE - 'NEUTRAL'
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TRADERS: GOLDMAN CUTS STANDARD CHARTERED TO 'NEUTRAL' ('BUY') - Late Monday
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COMPANIES - FTSE 100
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Vodafone Group PLC said its subsidiary Vodafone International Holdings BV has sold its entire shareholding in Vodafone Fiji Ltd for a cash consideration of GBP51 million. The subsidiary has sold its 49% stake in the company to the Fiji National Provident Fund. Vodafone said it expects to continue to have a presence in Fiji through a Partner Market agreement, following the deal.
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Old Mutual Appoints Gail Klintworth As Group Customer Director, Effective August 1; Says Klintworth Takes Over From Carlton Hood; Joins From Unilever
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COMPANIES - FTSE 250
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Premier Oil PLC said it has sold its 100% owned subsidiary Premier Oil Sumatra North BV to KrisEnergy Asia Holdings BV, for an after-tax consideration of USD40 million, plus working capital adjustments. The FTSE 250-listed oil and gas company said the deal is subject to government approvals and is part of its ongoing strategy to dispose of USD300 million in non-core assets in 2014 so that it can focus on higher return projects. Premier Oil Sumatra North holds a non-operated 41.67% equity interest in the Block A Aceh site, located onshore North Sumatra in Indonesia. The block includes the Alur Siwah, Alur Rambong, Julu Rayeu, the Kuala Langsa gas field and its recent Matang gas discovery.
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St Modwen Properties H1 Revenue Pretax Profit GBP61.0M Vs GBP45.6M; Revenue GBP110.1M Vs GBP63.8M; EPRA NAV Up 6% To 314.4p per share; Increases Interim Dividend To 1.463 Pence Vs 1.33 Pence
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Online grocery retailer Ocado Group PLC said it swung to a pretax profit in the first half of its financial year, driven by strong sales growth boosted by its tie-up with Wm Morrison Supermarkets PLC. The online retailer posted a pretax profit of GBP7.5 million for the 24 weeks to May 18, compared with a GBP3.8 million loss in recorded a year earlier. Gross retail sales in the first half of the year, rose 16%, with sales growth driven by growing demand, an increase in average orders per week and customers, which it said partially offset a slight decline in the average order size. Whilst strong, sales growth slowed in the second quarter from the first quarter.
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Synthomer PLC said Chief Executive Adrian Whitfield will step down from the role on June 30, 2015.
Whitfield has served in the position for the last eight years. He will remain on the board and as group CEO until June next year in order to allow sufficient time for the company to find a replacement and to care-take an orderly transition, said Synthomer.
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Phoenix Group Completes Divestment Of Ignis Asset Management Ltd
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Segro Completes Final EUR185M Of EUR472M Portfolio Acquisition Within SEGRO European Logistics Partnership; Says Annualised Net Rental Income From Newly Completed Assets EUR11.6M, For EUR31.6M Total
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Central Rand Gold Notes Re-Rating Of Gold Mineralisation 'Exploration Target' To 'Mineral Resource'; Says New CPR Has More Than Doubled Resource Base To 9.9Moz Of Contained Gold
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COMPANIES - MAIN MARKET AND AIM
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Asset manager Fidelity Worldwide Investment's US arm FMR LLC on Monday doubled its stake in Quindell PLC, according to a report in The Financial Times. The move - which makes Fidelity the second-biggest investor in the company after founder Robert Terry - comes as investors and short sellers debate whether Quindell represents a revolutionary new model for the insurance industry, or an overhyped start-up that exposes the risks of London’s junior stock market, the FT said. The asset manager has been increasing its stake since the beginning of the year, reported the newspaper. Last month the company failed to attain a premium listing on the London Stock Exchange, because it hadn't fulfilled all of the conditions for making the step up from AIM.
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MoPowered Says Revenues To Be More Modest Than Had Been Expected For 2014 And Beyond; Says Some Deals Expected To Complete In Q2 Have Slipped To H2
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San Leon Signs Joint Venture Agreement With Palomar Natural Reosurces Across Seven Concessions; Receives USD20M For Joint Venture Agreement With Palomar Natural Resources
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Fairpoint Group Acquires Foster And Partners For Up To GBP0.4M In Cash, Payable On Deferred Terms Over 2 Years
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Target Healthcare Acquires Turnkey Care Home In Leicestershire For GBP6.0M
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Sweet Group FY Pretax Profit GBP2.8M Vs GBP1.8M; Revenue GBP89.4M Vs GBP80.6M; Increases Dividend To 1.3 Pence Vs 1.0 Pence
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Scholium FY Pretax Loss GBP348K, Vs GBP74K Profit Year Before; Revenue GBP6.7M, Up 13% From GBP5.9M; Declares 1p Dividend, First Since Listing; Says Current Year Trading At Mayfair And South Kensington Operations Ahead Of Prior Year
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Fastjet CFO Angus Saunders To Step Down; Fastjet Appoints Nick Caine To Succeed Saunders As CFO From August 11
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Plus500: Q2 Revenue And Profit Expected To Be Ahead Of Market Expectations; EBITDA Margins Have Continued To Be Strong
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Hayward Tyler FY Pretax Profit GBP3.8M, Vs Previous Year 15-Mo Pretax Profit Of GBP1.5M; Revenue GBP43.2M, Vs Previous Year 15-Mo Revenue Of GBP40.5M; To Pay Final Dividend Of 0.75p, Following First Interim Dividend Of 0.5p
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Optimal Payments To Acquire All Partnership Interests Of TK Global Partners For USD210M; Says Acquisition Comprises USD150M Cash, USD60M In Optimal Shares; Also Enters Agreement To Acquire Trade, Assets Of Global Merchant Advisors For Up To USD15M Cash
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Eden Research Receives Korean Patent For Go-E Inside Mite Treatment
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Edenville Energy Gets Approval For Coal Mining At The Namwele And Mkomolo Coal Deposits Near Lake Rukwa In Tanzania
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iEnergizer FY Pretax Profit Down 27% To USD21.6M From USD29.7M Year Before; Revenue Up 3.6% To USD155.4M From USD150.3M Year Before, Ahead Of Guidance
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Greggs Total Sales Up 3.1% In 26 Weeks to June 28; Own Shop Like-For-Like sales Up 3.2% In First 26 Weeks Vs 2.9% Decline; Continued To Trade Well Through First Half, Good Cost Control; Expects To Deliver Improved FY Results, Further Progress Against Strategic Plan
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European REIT Chairman Crispian Collins And Director Roger Phillips Resign To Save Costs; Stephen Coe To Become Chairman; Says Property Portfolio Value EUR57.8M On June 30, Down 8.6% From Dec 31, Following Car Park Sale; European REIT To Return GBP6.4M By Way Of Compulsory Partial Redemption Of Shares
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Tuesday's Scheduled AGMs/EGMs

African Potash
Central Rand Gold
Sierra Rutile
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By Tom Waite; thomaslwaite@alliancenews.com; @thomaslwaite

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