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127484  Petrel Resources 2016-06-24 11:06:00  2016-06-24 11:12:03  2016-06-24 11:12:03  Petrel Resources “fully funded” for offshore Ireland work  Petrel Resources “fully funded” for offshore Ireland work      petrel-resources-fully-funded-for-offshore-ireland-work-127484.html    <p> After “a year of transition” in 2015, <a href="-##!##-/LON:PET/Petrel-Resources/" class="companyPopupTrigger" rel="769">Petrel Resources</a> PLC (<a href="-##!##-/LON:PET/Petrel-Resources/" class="companyPopupTrigger" rel="769">LON:PET</a>) is ramping up its efforts on the Atlantic offshore Ireland, according to Northland Capital.</p> <p> The company bid on three areas in the Porcupine basin earlier this month and was awarded two new licences.</p> <p> “At its new options; 16/24 and 16/2, Petrel has commenced its agreed work programme, that is fully funded, to identify potential targets for further work, following this the company will look to farm out the projects for the more costly exploration phase,” the broker said.</p> <p> Speaking to Proactive Investors, David Horgan, a director at the company, said the farm-out market is depressed, but “certain hotspots” are seeing a lot of interest and one of these is the Porucpine Basin, where discussions with potential partners “have been quite positive”.</p> <p> Meanwhile, at the company’s 15% interest in FEL 3/14, joint venture partner Woodside is currently shooting a 3D seismic programme that “could lead to at least one well being drilled at no cost to Petrel,” broker Northland said.</p> <p> Petrel reported full-year results on Friday that showed adjusted losses before tax in 2015 reduced to €227,234 from €430,517 the year before. &nbsp;</p> <p> On a day when the UK decided to leave the EU, Petrel said: “In a world of significant political and economic uncertainty it is good to have some positive news to report.”</p> <p> After the licence awards, the company had net cash of €795,647 at the end of the year, and chairman John Teeling said “we are financed for the future”.</p> <p> Shares, which have gained around 21% so far this week, were relatively flat on the news at 6.4p.</p>   Speaking to Proactive Investors, David Horgan, a director at the company, said the farm-out market is depressed, but “certain hotspots” are seeing a lot of interest and one of these is the Porucpine Basin, where discussions with potential partners “have been quite positive”.  NEWS        View Edit Delete
127483  London Stock Exchange 2016-06-24 10:42:00  2016-06-24 13:12:05  2016-06-24 10:43:21  LSE, Deutsche Boerse press ahead with merger  LSE, Deutsche Boerse press ahead with merger  London Stock Exchange, Deutsche Boerse, exchange, trading, merger, shares, stocks    lse-deutsche-boerse-press-ahead-with-merger-127483.html    <p> <a class="companyPopupTrigger" href="-##!##-/LON:LSE/London-Stock-Exchange/" rel="1123">London Stock Exchange</a> Group PLC (<a class="companyPopupTrigger" href="-##!##-/LON:LSE/London-Stock-Exchange/" rel="1123">LON:LSE</a>) and Deutsche Boerse AG (<a class="companyPopupTrigger" href="-##!##-/ETR:DB1/Deutsche-Börse/" rel="14522">ETR:DB1</a>) are to press ahead with their US$30bln merger despite the result of yesterday’s EU referendum.</p> <p> The stock exchanges said the leave victory did not change the strategic reasoning behind the proposed deal and both boards urged their respective shareholders to back the merger.</p> <p> “We are convinced that the importance of the proposed combination of Deutsche Boerse and LSEG has increased even further for our customers,” said Deutsche Boerse chairman Joachim Faber.</p> <p> “[The merger] will provide benefits for them as well as our shareholders and other stakeholders.”</p> <p> LSE shareholders are due to vote on the merger at a general meeting on 4 July, although Deutsche Boerse shareholders may not decide until 12 July.</p> <p> Shares in LSE were down 282p, or 10%, to 2453p, while shares in Deutsche Boerse were down €5.65, or 7%, to €76.</p>   London Stock Exchange Group PLC (LON:LSE) and Deutsche Boerse AG (ETR:DB1) are to press ahead with their US$30bln merger despite the result of yesterday’s EU referendum. “We are convinced that the importance of the proposed combination of Deutsche Boerse and LSEG has increased even further for our customers,” said Deutsche Boerse chairman Joachim Faber.  ARTICLE          View Edit Delete
127497  OIL & GAS MARKET WRAP 2016-06-24 13:43:00  2016-06-24 16:25:55  2016-06-24 13:48:57  Oil takes Brexit hit despite fundamental boost  Oil takes Brexit hit despite fundamental boost  oil, Brexit, euro, UK, crude, Saudi Arabia    oil-takes-brexit-hit-despite-fundamental-boost-127497.html    <h3> Oil takes Brexit hit</h3> <p> The UK vote to leave the European Union had the markets in a whirlwind at the end of the week and the oil market fell rapidly on confirmation of the results. In early trading on Friday, the market saw some recovery with Brent crude priced below US$49 with WTI holding above US$48 a barrel</p> <h3> As do stocks</h3> <p> The stock markets around Europe took an instant hit, with billions of dollars being lost in morning trading following the surprising decision.</p> <p> The British pound had its steepest fall, down 10% at one point, but the Bank of England governor, Mark Carney assured the markets that he was ready to make any monetary adjustments necessary.</p> <p> Jonathan Lyons, chief European economist from <a class="companyPopupTrigger" href="-##!##-/PRIVATE:CAPE/Capital-Economics/" rel="14601">Capital Economics</a> said: “The outcome clearly creates considerable short-term uncertainty, which is likely to weigh on the UK economy in the coming quarters and business confidence will presumably drop sharply for a while.”</p> <h3> Fall out yet to be seen</h3> <p> Depending on who you talk to, the fall out of the UK vote is yet to be seen.</p> <p> The Austrian Finance minister Hans Joerg Schelling spoke to Bloomberg on Friday and said he did not see Britain’s departure as a necessary bad thing.</p> <p> He said it “damages the United Kingdom” more than the European Union but he says the early market and currency reaction was “overshooting and over reacting” and it will rebalance shortly. &nbsp;</p> <p> Jason Schenker, president of Prestige Economics in the US says, “This successful Brexit vote is likely to be disastrous for global and European economies, but much worse for the UK economy.&nbsp;</p> <p> “We see downside risks to Eurozone and UK growth as a result of the Brexit, at a time when US growth has decelerated and Chinese manufacturing remains in recession.”&nbsp;</p> <p> Schenker still holds the position that the US economy is heading into recession by the end of the year.</p> <h3> BP boss still upbeat</h3> <p> The CEO of BP, Bob Dudley was speaking at the Economic Club of Washington this week and he was in optimistic mood about the future of the oil market.</p> <p> He said he believed that “global supply and demand recently have moved towards a better balance,” as he looks towards a sense of stability of oil at US$50 by the end of 2016.</p> <h3> Saudi stocks down</h3> <p> Oil inventories in Saudi Arabia are down this month according to the Joint Organisations Data Initiative from the International Energy Forum.</p> <p> Many analysts say the rebalancing of stock levels is significant and the energy minister Khalid Al-Falih has been talking about the rebalancing of supply and demand on the global market and reiterated his position in an interview with the Houston Chronicle this week.</p> <p> He added caution saying the market needs “to wait for the second half of the year and next year to see what works out.”</p> <h3> Euro repercussions overshadow better fundamentals</h3> <p> In the short-term, the market will continue to focus on the repercussions of the UK departure from the EU.</p> <p> Investors and traders will be looking for a more optimistic outcome as the fundamentals of the oil market look stronger and more balanced than in previous months.</p>     REPORT        View Edit Delete
127481  Proactiveinvestors 2016-06-24 09:18:00  2016-06-24 09:23:33  2016-06-24 09:23:33  "No IPO activity for 12 months" says Ernst & Young leader  "No IPO activity for 12 months" says Ernst & Young leader      -no-ipo-activity-for-12-months-says-ernst-young-leader-127481.html    <p> Ernst &amp; Young’s UK IPO leader Scott McCubbin has said that there is likely to be no IPO activity in the next year, following the UK’s vote to leave to EU.</p> <p> “IPO activity can be expected to largely cease in the next 12 months,” warned McCubbin.</p> <p> “Increased uncertainty about the impact that the vote to Leave the EU will have on listing legislation, as well as the expected devaluation of the pound, is likely to hold activity back.”</p> <p> However he said that there could be one area of increased activity. US and EU private equity funds looking to acquire assets in the UK could be energised by the news, particularly if there is an impact on business valuations and a lower pound, reckons McCubbin.</p> <p> “Markets will be looking for signs of clear long term plans before confidence returns and activity picks up,” he added.</p>   Ernst & Young’s UK IPO leader Scott McCubbin has said that there is likely to be no IPO activity in the next “IPO activity can be expected to largely cease in the next 12 months,” warned McCubbin. “Increased uncertainty about the impact that the vote to Leave the EU will have on listing legislation, as well as the expected devaluation of the pound, is likely to hold activity back.”  NEWS        View Edit Delete
127485  Centrica 2016-06-24 09:09:00  2016-06-24 16:31:44  2016-06-24 11:23:00  No price cap for big six as CMA tones down energy reforms  No price cap for big six as CMA tones down energy reforms  Gas, competition, electricity, supply, UK, customer, tariffs    no-price-cap-for-big-six-as-cma-tones-down-energy-reforms-127485.html    <p style="text-align: justify;"> Britain’s big six gas and electricity suppliers will not be forced to introduce a general price cap after a change of heart by the Competition and Markets Authority.</p> <p style="text-align: justify;"> The regulator’s final report, after a two-year review of the UK energy market &nbsp;omitted the cap having included it a year ago.</p> <p style="text-align: justify;"> One member of the committee, Martin Cave, objected to the decision saying a short-term price cap was necessary to 'reset the market'.</p> <p style="text-align: justify;"> The CMA also lowered its estimate for how much energy users are being overcharged, to £1.4bn from £1.7bn, but proposed 30 new measures to help customers claw some of this back.</p> <p style="text-align: justify;"> These did include a price cap on pre-payment tariffs and also a commitment to smart meters for all customers by 2020 as well as establishing a database to allow suppliers to contact people who want to switch.</p> <p style="text-align: justify;"> The “four-tariff” rule is to go with comparison websites playing a greater role in enabling customers to change supplier. More transparency in the way bills are calculated and transmission charges were also proposed.</p> <p style="text-align: justify;"> “Our remedies package will revitalise the energy market, intensifying competition between energy companies to bear down on costs, ensuring customers can make informed decisions about the range of options open to them and encouraging the development of smarter regulations that work in consumers’ interests,” said the CMA.</p> <p style="text-align: justify;"> Alistair Phillips-Davies, chief executive of big six member SSE (<a class="companyPopupTrigger" href="-##!##-/LON:SSE/SSE-plc/" rel="3130">LON:SSE</a>), said it was tough package but the reforms proposed should help deliver meaningful improvements for customers, but smaller suppliers slammed the report.</p> <p style="text-align: justify;"> First Utility boss Darren Braham said the CMA had 'completely missed the mark.'</p> <p style="text-align: justify;"> “Rather than acting quickly to make the market simpler and fairer for customers, the opposite has happened.</p> <p style="text-align: justify;"> "With the remedies proposed, we are in real danger of being back where we started 10 years ago. This means a baffling array of tariffs, even more exploitation by the big six [energy companies] and customers continuing to pay much more than they need to.”</p> <p> On a bad for shares everywhere due to the Brexit result, SSE was 7% lower at 1,445p and British Gas owner <a class="companyPopupTrigger" href="-##!##-/LON:CNA/Centrica/" rel="3440">Centrica</a> (<a class="companyPopupTrigger" href="-##!##-/LON:CNA/Centrica/" rel="3440">LON:CNA</a>) &nbsp;6% lower to 204p.</p>   The regulator’s final report, after a two-year review of the UK energy market omitted the cap having included it a year ago. One member of the committee, Martin Cave, objected to the decision saying a short-term price cap was necessary to 'reset the market'.  ARTICLE          View Edit Delete
127479  Tern PLC 2016-06-24 08:32:00  2016-06-24 09:09:24  2016-06-24 09:09:24  Tern completes Flexiant assets acqusition   Tern completes Flexiant assets acquisition       tern-completes-flexiant-assets-acquisition-127479.html    <p> Cloud and mobile focused investing company <a href="-##!##-/LON:TERN/Tern-PLC/" class="companyPopupTrigger" rel="8384">Tern PLC</a> (<a href="-##!##-/LON:TERN/Tern-PLC/" class="companyPopupTrigger" rel="8384">LON:TERN</a>) has successfully completed the acquisition of the assets and businesses of Flexiant Limited, the research and cloud management company.</p> <p> The group partnered with Flexiscale Technology Limited, which acquired the remaining FCO business unit.</p> <p> The assets were acquired from administrators for £75,000 when then acquisition announced last month failed to proceed.</p> <p> The assets acquired by Tern are valued at approximately £20,000, based on Flexiant’s accounts.</p> <p> This acquisition is in line with Tern’s strategy of focusing on making investments in companies with proven products, said the group. Tern now has controlling interests in three businesses.</p> <p> "We are pleased to have acquired these assets as we perceive the greatest value can be obtained by splitting Flexiant into three business units,” said chairman Angus Forrest.</p> <p> There was interest from major corporate buyers in acquiring Flexiant Ltd.&nbsp; We will concentrate on driving the commercialisation process following which we expect to achieve significant returns."</p> <p> Shares dropped 16.6% to 10p, marked down by today’s Referendum result.</p>   Cloud and mobile focused investing company Tern PLC (LON:TERN) has successfully completed the acquisition of the assets and businesses of Flexiant Limited, the research and cloud management company. The group partnered with Flexiscale Technology Limited, which acquired the remaining FCO business unit.  NEWS        View Edit Delete
127477  Proxama PLC 2016-06-24 07:55:00  2016-06-24 16:33:48  2016-06-24 08:31:28  Proxama raises £2mln as digital payment sales talks continue  Proxama raises £2mln as digital payment sales talks continue  Marketing, Smartphone, advertising, London, placing, funding,     proxama-raises-2mln-as-digital-payment-sales-talks-continue-127477.html    <p style="text-align: justify;"> Mobile marketing group Proxama (<a class="companyPopupTrigger" href="-##!##-/LON:PROX/Proxama-PLC/" rel="8261">LON:PROX</a>) is to raise up to £2mln to bolster its balance sheet while it negotiates the sale of its digital payments division.</p> <p style="text-align: justify;"> The company said it has received one letter of intent for an offer of between US10-12mln and due diligence was being carried out currently. Other parties are also interested, Proxama said, though there was no certainty any deal would be struck.</p> <p style="text-align: justify;"> As part of the placing, shares will be issued at 0.3p.</p> <p style="text-align: justify;"> Proxama said the cash raised should see it through to the end of 2017 when the digital payments deal should have been concluded and the company overall be running at cash break-even.</p> <p style="text-align: justify;"> Results for 2015 showed revenues picking up strongly to £2.9mln (£0.8mln), though losses rose to £6.1mln after £1.1mln of impairment charges. &nbsp;</p> <p style="text-align: justify;"> In the first five months of 2016, revenues had risen by 50% in the first five months to £1.3mln (£0.8mln).</p> <p style="text-align: justify;"> Proximity marketing accounted for 24% of this, up from 4% in 2015.</p> <p style="text-align: justify;"> Underlying losses [EBITDA] year to date were £2mln, which Proxama said was a 35% improvement on the same position last year while costs have been reduced by 20%.</p> <p style="text-align: justify;"> David Bailey, chairman, added: "2015 was an important year for the company during which both divisions made significant progress.</p> <p style="text-align: justify;"> “Proxama marketing now has agreement for and is in the process of establishing a c. 50,000 strong beacon network primarily focused on London transport hubs.</p> <p style="text-align: justify;"> “The first advertising campaigns are now running on the beacon network which is generating further interest from other potential partners as they can now see the network in action.</p> <p style="text-align: justify;"> “The Digital payments division performed well, securing a number of key contracts during the year. The proposed equity placing will ensure the company has sufficient time to complete the sale as well as support the business to cash break even in 2017."</p>   David Bailey, chairman, added: "2015 was an important year for the company during which both divisions made significant progress. “Proxama marketing now has agreement for and is in the process of establishing a c. 50,000 strong beacon network primarily focused on London transport hubs."  NEWS        View Edit Delete
127476  North River Resources plc. 2016-06-24 07:52:00  2016-06-24 08:07:23  2016-06-24 08:07:23  China Nuclear rep steps down from North River  China Nuclear rep steps down from North River      china-nuclear-rep-steps-down-from-north-river-127476.html    <p> Namibia focused resources group North River Resources PLC (<a href="-##!##-/LON:NRRP/North-River-Resources-plc./" class="companyPopupTrigger" rel="694">LON:NRRP</a>) announced that its non-executive director has resigned from the board with immediate effect.</p> <p> Tina Ding Chan stepped down as a consequence of having left the China General Nuclear Power Company (CGNPC).</p> <p> Ding Chan joined the board in July last year, representing the interests of CGNPC.</p> <p> CGNPC is a 12% shareholder in North River and a major investor in the Namibia through its large Husab uranium project.</p> <p> “On behalf of the other members of the Board, I would like to thank Tina for her contribution since joining the board,” said chairman Rod Beddows.</p> <p> He added: “We also look forward to discussing with CGNPC the appointment of a replacement to the Board in due course."</p>   Namibia focused resources group North River Resources PLC (LON:NRRP) announced that its non-executive director has resigned from the board with immediate effect. Tina Ding Chan stepped down as a consequence of having left the China General Nuclear Power Company (CGNPC).  NEWS        View Edit Delete
127472  IN THE PAPERS 2016-06-24 07:16:00  2016-06-24 07:34:28  2016-06-24 07:23:21  Papers: The reaction to Britain's vote to leave EU   Papers: The reaction to Britain's vote to leave EU   Newspapers. headlines    papers-the-reaction-to-britain-s-vote-to-leave-eu-127472.html    <p style="text-align: justify;"> Britain’s vote to leave the <strong>European Union </strong>dominates the front pages with predictions of financial chaos today following the Leave campaign’s stunning victory.</p> <p style="text-align: justify;"> The FT said the result will send shockwaves across Europe especially given the scale of the popular revolt.</p> <p style="text-align: justify;"> David <a class="companyPopupTrigger" href="-##!##-/NYSE:CAM/Cameron/" rel="5158">Cameron</a>’s premiership is hanging in the balance it adds, with working-class voters turning out in huge numbers to deliver a stunning rebuke to the establishment and the status quo.</p> <p style="text-align: justify;"> The Leave campaign secured 51.8% of the vote, reports the Telegraph. David <a class="companyPopupTrigger" href="-##!##-/NYSE:CAM/Cameron/" rel="5158">Cameron</a>, who will address the nation shortly,&nbsp;is now facing calls to resign as Prime Minister.</p> <p style="text-align: justify;"> England voted overwhelmingly for Brexit, but Scotland and Northern Ireland backed Remain, it adds.</p> <p style="text-align: justify;"> Statements are expected to be made by Sinn Fein and the SNP later today calling for a breakaway from the Union. London backed Remain but the turnout was lower than expected because of bad weather.</p> <p style="text-align: justify;"> <strong>The pound </strong>crashed to the lowest level since 1985 as sterling fell below $1.35.&nbsp;Complacency about a Brexit outcome will come clear this morning, as out of hours trading suggests that the FTSE 100 will drop by 8.8%, or by some 560 points.&nbsp;</p> <p style="text-align: justify;"> The Independent writes that the UK is likely to lose its <strong>AAA credit rating</strong> after it voted to leave the EU.&nbsp;Moritz Kramer, chief ratings officer for S&amp;P, said on Friday morning that the UK's AAA rating was "untenable under the circumstances".</p> <div> <strong>“WE’RE OUT!” </strong>reads the front page of the Daily Mail this morning. &nbsp;Like a lot of the papers, the Mail referenced the “massive” turnout which culminated in a “historic rejection of Brussels”.</div> <div> &nbsp;</div> <div> The paper claims that the Prime Minister is now facing a crisis following “a huge revolt” against what the Mail calls ‘Project Fear’. “After 43 years UK has been freed from shackles of EU” following last night’s “stunning victory”.</div> <p style="text-align: justify;"> <strong>The Times</strong> led with a photo of Nigel Farage raising his hands in the air under the headline, ‘Brexit for Britain’.</p> <div> <p> The paper also ran with the story that <a class="companyPopupTrigger" href="-##!##-/NYSE:CAM/Cameron/" rel="5158">Cameron</a> and Corbyn, both part of the losing Remain campaign, are now facing calls to quit their positions. &nbsp;Alex Salmond, the former Scottish first minister, is certain that his successor, Nicola Sturgeon, will call for a second independence referendum, The Times wrote.</p> </div> <p style="text-align: justify;"> The Guardian quotes Germany’s <strong>Germany’s foreign minister</strong>, Frank-Walter Steinmeier, who called the result “truly sobering. It looks like a sad day for&nbsp;Europe&nbsp;and the United Kingdom.”</p> <p style="text-align: justify;"> Manfred Weber, the chairman of the European People’s Party group of centre right parties in the European parliament, added Britain had crossed a line and there was no going back.&nbsp;</p>     REPORT        View Edit Delete
127473  Bacanora Minerals Ltd 2016-06-24 07:14:00  2016-06-24 07:35:00  2016-06-24 07:31:37  Bacanora Minerals unveils plans to re-domicile in UK   Bacanora Minerals unveils plans to re-domicile in UK       bacanora-minerals-unveils-plans-to-re-domicile-in-uk-127473.html    <p> Bacanora Minerals Limited (<a class="companyPopupTrigger" href="-##!##-/LON:BCN/Bacanora-Minerals-Ltd/" rel="8480">LON:BCN</a>, CVE:BCN), the Mexico focused lithium group, has revealed plans to re-domicile in the UK from Canada.</p> <p> It says since listing on London's AIM it has received a positive reaction and two major institutions have become shareholders in the last eight months.</p> <p> In the plan of arrangement, which will need shareholder approval, all existing shares in Bacanora will be exchanged for shares in Bacanora Lithium Plc (Bacanora UK), a new holding company.</p> <p> The share capital will stay the same and the firm says the move will result in significant cost and administrative savings.</p> <p> Bacanora's operations are based in Hermosillo in northern Mexico and its main assets are the Sonora lithium project, which consists of ten mining concessions and the Magdalena Borate project in Sonora state, Mexico.</p> <p> Today's announcement comes on a day where it has emerged the UK has voted to leave the European Union.</p> <p> Read more on the company <a href="http://www.proactiveinvestors.co.uk/companies/news/126619/bacanora-minerals-lined-up-to-feed-far-east-lithium-markets-126619.html">here.</a></p>   Bacanora Minerals Limited (LON:BCN, CVE:BCN), the Mexico focused lithium group, has revealed plans to re-domicile in the UK from Canada. It says since listing on London's AIM it has received a positive reaction and two major institutions have become shareholders in the last eight months.   NEWS        View Edit Delete
127492  MyCelx Technologies 2016-06-24 10:57:00  2016-06-24 14:00:19  2016-06-24 13:23:54  MyCelx inks distribution deal with Schlumberger  MyCelx inks distribution deal with Schlumberger  MyCelx, water, treatment, technology, Schlumberger, Cameron, oilfield, services, hydrocarbons    mycelx-inks-distribution-deal-with-schlumberger-127492.html    <p> Water cleaning specialist <a class="companyPopupTrigger" href="-##!##-/LON:MYXR/MyCelx-Technologies/" rel="4013">MyCelx Technologies</a> Corporation (LON:MYX) has agreed a distribution deal with <a class="companyPopupTrigger" href="-##!##-/NYSE:CAM/Cameron/" rel="5158">Cameron</a>, a subsidiary of the world’s largest oilfield services firm <a class="companyPopupTrigger" href="-##!##-/NYSE:SLB/Schlumberger/" rel="5866">Schlumberger</a>.</p> <p> The agreement gives <a class="companyPopupTrigger" href="-##!##-/NYSE:SLB/Schlumberger/" rel="5866">Schlumberger</a> the exclusive rights to distribute MyCelx’s products in the upstream market.</p> <p> The AIM-listed firm says it will work with oilfield services giant to expedite the industry adoption of its RE-GEN product line.</p> <p> “We are extremely pleased to be working with <a href="-##!##-/NYSE:SLB/Schlumberger/" class="companyPopupTrigger" rel="5866">Schlumberger</a> to bring our products to their global upstream customer base,” said chief executive Connie Mixon.</p> <p> The company’s water treatment technology permanently removes oil and hydrocarbons from water, helping oil companies to reduce their environmental impact.</p> <p> It says it will retain its current business in the downstream market for all its products and services.</p> <p> Shares were down 5p, or 18%, to 22.5p.</p>   Water cleaning specialist MyCelx Technologies Corporation (LON:MYX) has agreed a distribution deal with Cameron, a subsidiary of the world’s largest oilfield services firm Schlumberger. “We are extremely pleased to be working with Schlumberger to bring our products to their global upstream customer base,” said chief executive Connie Mixon.  ARTICLE        View Edit Delete
127463  END OF DAY NEWS WRAP 2016-06-23 18:19:00  2016-06-24 07:32:16  2016-06-23 18:24:11  London’s FTSE prices in a Remain poll victory  London’s FTSE prices in a Remain poll victory      londons-ftse-prices-in-a-remain-poll-victory-127463.html    <p> London’s FTSE100 closed firmly higher, anticipating a Remain victory in Britain’s European Union referendum on Thursday.</p> <p> The blue-chip ticker ended up 1.23%, or 76 points, at 6,338 and never once lurched into negative territory this session. Across the London bourse, 42% of stocks gained this session, 40% were unchanged and only 18% fell.</p> <p> The optimism over a decisive result came after the last poll conducted before the result of the UK’s EU referendum has put the Remain side in the lead by 10 points at 55% against 45% for Leave.</p> <p> The online survey from Populus was carried out with a sample size of 4700 from June 21 to midnight on June 22. Up until now, most online polling has given the pro-Brexit camp a healthy lead.</p> <p> Polling closes at 2200 BST on Thursday and both sides believe there is everything to play for, as the last poll suggests that up to 10% of voters are therefore undecided.</p> <p> The Financial Times’ own poll of polls now indicates a narrow victory for the Remain camp of 48% against Leave on 46% - still indicating 6% undecided or abstaining. But unless one side gains more than 50% of the vote the legitimacy of the poll may yet be questioned and open up new political rifts in the weeks to come, hurting stockmarkets.</p> <p> But indicating just how fragile and jittery markets have become this week, cue foreign exchange. Since rocketing to a record high this morning, the cost of protecting against swings in sterling has dropped sharply as market confidence that the UK will vote to remain in the EU rose tentatively.</p> <p> Smaller-cap stocks were also higher. The FTSE AIM 100 Index ended up 0.7% at 3,444 while the FTSE AIM All-Share Index was up 0.6% at 726.</p> <p> Although the market was higher, it would be blind to suggest the EU referendum was the only factor in town. Oil prices were higher on Thursday, with Brent crude up 0.9% at $50.33. In fact Brent has held above $50 all this week, supporting bourse gains.</p> <p> With votes being counted through the night and given the way the regions will declare results, it is likely that the all-important Remain or Leave victory will not be known until after 0600 BST on Friday. It is expected the prime minister will deliver a statement to calm investors before the London bourse opens at 0800 BST.</p> <hr /> <p> <strong>Midsession</strong></p> <p> If the City is any judge, the UK is set to vote for the status quo in today’s EU membership referendum.</p> <p> The blue-chip FTSE 100 index was up 64 points at 6,325 towards the end of the lunchtime session, reaching a level last seen in the middle of April, as traders bet that the Brexiters will be vanquished in today’s plebiscite.</p> <p> Of course, the plebs may yet vote the “wrong” way, but for now all but a handful of blue-chips – United Utilities, Paddy Power Betfair,&nbsp;<a href="http://www.proactiveinvestors.co.uk/market_reports/edit/-##!##-/LON:BRBY/Burberry-Group/" rel="3176">Burberry Group</a>&nbsp;and Experian – are on the rise, with British Airways owner International Consolidated Airlns Grp SA (<a href="http://www.proactiveinvestors.co.uk/market_reports/edit/-##!##-/LON:IAG/International-Airlines-Group/" rel="3772">LON:IAG</a>) flying highest of all, up 3.9%.</p> <p> Financial stocks are also faring well, reflecting hopes that London’s status as top dog in Europe’s financial markets will be maintained in the event of a “remain” vote.</p> <p> Among the small caps, energy firm&nbsp;<a href="http://www.proactiveinvestors.co.uk/market_reports/edit/-##!##-/LON:CLON/Clontarf-Energy/" rel="763">Clontarf Energy</a>&nbsp;PLC (<a href="http://www.proactiveinvestors.co.uk/market_reports/edit/-##!##-/LON:CLON/Clontarf-Energy/" rel="763">LON:CLON</a>) continues to benefit from yesterday’s news that the Ghanaian Ministry of Petroleum has invited it in for talks about Clontarf's proposals for amended coordinates of the Tano Basin block that it originally applied for in 2008.</p> <p> The shares shot up yesterday and have doubled today.</p> <p> Media company Future PLC’s (<a href="http://www.proactiveinvestors.co.uk/market_reports/edit/-##!##-/LON:FUTR/Future-plc/" rel="3485">LON:FUTR</a>) acquisition of Imagine Publishing for £14.2mln, satisfied through the issue of shares, has got the thumbs-up from investors.</p> <p> The shares were up 11% on the news.</p> <p> <a href="http://www.proactiveinvestors.co.uk/market_reports/edit/-##!##-/LON:IGE/Image-Scan-Holdings-Plc/" rel="3389">Image Scan Holdings Plc</a>&nbsp;(<a href="http://www.proactiveinvestors.co.uk/market_reports/edit/-##!##-/LON:IGE/Image-Scan-Holdings-Plc/" rel="3389">LON:IGE</a>), up 5.9%, was wanted on news of a distribution agreement. The specialist supplier of X-ray screening systems to the security and industrial inspection markets has signed a distribution agreement for X-ray mail scanning systems with Todd Research, a leading manufacturer in the market.</p> <hr /> <h3> London open</h3> <p> UK blue chips were on the rise at the open as voters took to the polls in the historic UK referendum vote on&nbsp; whether to stay in the EU.</p> <p> More than 45mln voters are eligible to have a say and many have done so already, according to reports.</p> <p> FTSE100 was up over 27 points at the time of writing at 6,289, while small cap shares were also on the up. FTSEAIM All share was up 0.13% at 723.260, while FTSE AIM 100 gained 0.14% to 3,424.</p> <p> Commodities giant Glencore plc (<a href="http://www.proactiveinvestors.co.uk/market_reports/edit/-##!##-/LON:GLEN/Glencore-International/" rel="3766">LON:GLEN</a>) took centre stage, up 3.24% to 153.67p, while&nbsp;<a href="http://www.proactiveinvestors.co.uk/market_reports/edit/-##!##-/LON:TSCO/Tesco/" rel="3171">Tesco</a>&nbsp;(<a href="http://www.proactiveinvestors.co.uk/market_reports/edit/-##!##-/LON:TSCO/Tesco/" rel="3171">LON:TSCO</a>), the grocer supertanker, added 1.74% to stand at 169.35p, as it reported that it had achieved managed like-for-like (LFL) sales growth in its UK stores for the second quarter in a row.</p> <p> Among the notable small cap gainers was gold miner Aureus Mining PLC (<a href="http://www.proactiveinvestors.co.uk/market_reports/edit/-##!##-/LON:AUE/Aureus-Mining-Inc/" rel="1645">LON:AUE</a>), up 9.68% to 4.25p after it told investors it had received the sign-off from Liberia’s Ministry of Lands, Mines and Energy for the restart of work at the New Liberty gold processing plant.</p> <p> It follows an intensive period of modification and optimisation overseen by Maelgwyn Mineral Services Africa.</p> <p> Elsewhere,&nbsp;<a href="http://www.proactiveinvestors.co.uk/market_reports/edit/-##!##-/LON:SAV/Savannah-Resources-Plc/" rel="3780">Savannah Resources Plc</a>&nbsp;(<a href="http://www.proactiveinvestors.co.uk/market_reports/edit/-##!##-/LON:SAV/Savannah-Resources-Plc/" rel="3780">LON:SAV</a>)&nbsp; nudged up over 5% to 2.98p after it was granted Reservation Permit Applications over two new lithium projects, Somero and Eräjärvi in Finland.</p> <p> The mining junior announced the licence applications earlier this month.</p> <p> Among the biggest London laggards was&nbsp;<a href="http://www.proactiveinvestors.co.uk/market_reports/edit/-##!##-/LON:SDM/Stadium-Group-plc/" rel="942">Stadium Group plc</a>&nbsp;(<a href="http://www.proactiveinvestors.co.uk/market_reports/edit/-##!##-/LON:SDM/Stadium-Group-plc/" rel="942">LON:SDM</a>), the wireless solutions and power supplies specialist, which plunged over 28% to 79p each as it reassured investors it still expects profits to grow by ‘high single digits’ this year despite the loss of&nbsp; a significant client.</p> <p> Full year results for 2016 will be slightly below market expectations as result, said the electricals group.</p> <p> Elsewhere, ahead of Wednesday’s AGM, energy supplier&nbsp;<a href="http://www.proactiveinvestors.co.uk/market_reports/edit/-##!##-/LON:FLOW/Flowgroup/" rel="8382">Flowgroup</a>&nbsp;PLC (<a href="http://www.proactiveinvestors.co.uk/market_reports/edit/-##!##-/LON:FLOW/Flowgroup/" rel="8382">LON:FLOW</a>) added 0.83% to 12.10p as it released guidance for shareholders, saying it is targeting significant growth in the coming year.</p> <p> “Our strategy remains the same,” said chief executive Tony Stiff “to disrupt the energy and heating markets by offering high quality, competitively priced products and services on an enduring basis, delivering customer value across the energy space in innovative ways.”</p> <p> Meanwhile,&nbsp;<a href="http://www.proactiveinvestors.co.uk/market_reports/edit/-##!##-/LON:RLD/Richland-Resources-Ltd/" rel="985">Richland Resources Ltd</a>&nbsp;(<a href="http://www.proactiveinvestors.co.uk/market_reports/edit/-##!##-/LON:RLD/Richland-Resources-Ltd/" rel="985">LON:RLD</a>) fell back 7.69% to 1.50p after yesterday the group said it had expanded the resource estimate and significantly improved the understanding of its Capricorn Sapphire mine in Queensland, Australia.</p> <p> It follows 12 months’ “focused work” by gemstones specialist Andrew Cunningham that has provided “a detailed mine plan with a far greater understanding of the geology and mineralisation of the deposit”, the firm said.</p> <hr /> <h3> Open snapshot</h3> <p> The FTSE 100 was up 43 points at open this morning to 6,304.</p> <p> The top winner was&nbsp;<a href="http://www.proactiveinvestors.co.uk/market_reports/edit/-##!##-/LON:TSCO/Tesco/" rel="3171">Tesco</a>&nbsp;(<a href="http://www.proactiveinvestors.co.uk/market_reports/edit/-##!##-/LON:TSCO/Tesco/" rel="3171">LON:TSCO</a>), up 2% to 170p following a second consecutive quartely sales rise reported in an upbeat trading statement this morning.</p> <p> The biggest loser was United Utilities Group (LON:UU), dipping 15 points or 1.6% to 941p.</p> <hr /> <h3> Preview at 7.10am</h3> <p> As the heavens opened in London in an attempt to deter anyone from venturing out to vote in the EU referendum, the stock market is at least set for some sunshine.</p> <p> Spread betting quotes point to around a 55 point rise for the FTSE 100, which yesterday closed at 6,261.</p> <p> US markets were soft overnight, with the S&amp;P off three points at 2,085, the Dow Jones average down 49 points at 17,781 and the Nasdaq Composite 10 points weaker at 4,833.</p> <p> In contrast, Asian markets were mostly firmer this morning with the Nikkei 225 in Tokyo up 175 at 16,241 towards the end of trading, while in Hong Kong the Hang Seng was 80 points to the good at 20,873.</p> <p> If the forex markets are any guide to the likely outcome of the referendum, the “Remain” camp can draw comfort from the fact sterling has made headway this morning.</p> <h4> Commodities etc.</h4> <ul> <li> Gold: -US$2.50 (0.2%) at US$1,267.50 an ounce</li> <li> Brent crude: +US$0.36 (0.7%) at US$49.49 a barrel</li> <li> Sterling: +0.92 cents at US$1.1798</li> <li> Share tips: Avoid&nbsp;<a href="http://www.proactiveinvestors.co.uk/market_reports/edit/-##!##-/LON:DEB/Debenhams/" rel="79">Debenhams</a>&nbsp;and&nbsp;<a href="http://www.proactiveinvestors.co.uk/market_reports/edit/-##!##-/LON:ELM/Elementis/" rel="3534">Elementis</a>, but buy&nbsp;<a href="http://www.proactiveinvestors.co.uk/market_reports/edit/-##!##-/LON:TLPR/Tullett-Prebon/" rel="3475">Tullett Prebon</a>, according to Tempus in the Times. Sell&nbsp;<a href="http://www.proactiveinvestors.co.uk/market_reports/edit/-##!##-/LON:DEB/Debenhams/" rel="79">Debenhams</a>&nbsp;says Questor in the Telegraph.</li> <li> Weather tip: Bring a brolly, galoshes and a change of clothes</li> </ul>     REPORT          View Edit Delete
127455  MARKET PREVIEW 2016-06-23 16:15:00  2016-06-23 15:14:36  2016-06-23 15:14:36  DAY AHEAD - "Challenging times" for Polar Capital  DAY AHEAD - "Challenging times" for Polar Capital      day-ahead-challenging-times-for-polar-capital-127455.html    <p> Investment management group <a href="-##!##-/LON:POLR/Polar-Capital-Holdings-plc/" class="companyPopupTrigger" rel="797">Polar Capital Holdings plc</a> (<a href="-##!##-/LON:POLR/Polar-Capital-Holdings-plc/" class="companyPopupTrigger" rel="797">LON:POLR</a>) is releasing final results Friday.</p> <p> The last update in April highlighted a difficult end to the year. Assets under management fell on persistent outflows from Japan, which led to moderated expectations for the year.</p> <p> A key focus for investors and analysts alike will be on investment performance across the product range, and whether the group has yielded any benefits from the increased diversity of the business.</p> <p> An 8% dividend yield offers some compensation from the negative earnings momentum, but investors will be looking to positive assets under management growth for short to medium term performance.</p> <p> Analysts at <a href="-##!##-/PRIVATE:PEEL/Peel-Hunt/" class="companyPopupTrigger" rel="14427">Peel Hunt</a> say these are “challenging times” for the group.</p> <p> Tomorrow we will also learn the results of today’s EU referendum. Current polls have the Remain vote continuing its lead, but commentators are naturally cautious.</p> <p> The Electoral Commission estimates a final result "around breakfast time" tomorrow.</p>     REPORT          View Edit Delete
127460  END OF DAY NEWS WRAP 2016-06-23 16:10:00  2016-06-23 16:10:07  2016-06-23 16:10:07  Proactive news highlights: Amphion Innovations, Epistem, Providence, Savannah, Stadium and more...  Proactive news highlights: Amphion Innovations, Epistem, Providence, Savannah, Stadium and more...      proactive-news-highlights-amphion-innovations-epistem-providence-savannah-stadium-and-more-127460.html    <p> <a href="-##!##-/LON:SAV/Savannah-Resources-Plc/" class="companyPopupTrigger" rel="3780">Savannah Resources Plc</a> (<a href="-##!##-/LON:SAV/Savannah-Resources-Plc/" class="companyPopupTrigger" rel="3780">LON:SAV</a>) has been granted Reservation Permit Applications over two new lithium projects, Somero and Eräjärvi in Finland.</p> <p> The mining junior announced the licence applications earlier this month. Savannah has been granted permits over both locations until until 11 May 2018.</p> <p> In other news, <a href="-##!##-/LON:PVR/Providence-Resources-PLC/" class="companyPopupTrigger" rel="824">Providence Resources PLC</a> (<a href="-##!##-/LON:PVR/Providence-Resources-PLC/" class="companyPopupTrigger" rel="824">LON:PVR</a>) has been awarded the exploration rights to a 1,324-square-kilometre area in the Porcupine Basin, 150km west of Ireland.</p> <p> Technical director, John O'Sullivan, said he was delighted the company, along with its bidding partners, had landed a key offshore Atlantic licence option in the latest round.</p> <p> Over at <a href="-##!##-/LON:SDM/Stadium-Group-plc/" class="companyPopupTrigger" rel="942">Stadium Group plc</a> (<a href="-##!##-/LON:SDM/Stadium-Group-plc/" class="companyPopupTrigger" rel="942">LON:SDM</a>), the wireless solutions and power supplies specialist still expects profits to grow by ‘high single digits’ this year despite the loss of&nbsp; a significant client.</p> <p> Full year results for 2016 will be slightly below market expectations as result, said the electricals group.</p> <p> Elsewhere, <a href="-##!##-/LON:VOG/Victoria-Oil-%26amp%3B-Gas-plc/" class="companyPopupTrigger" rel="1063">Victoria Oil &amp; Gas plc</a> (<a href="-##!##-/LON:VOG/Victoria-Oil-&-Gas-plc/" class="companyPopupTrigger" rel="1063">LON:VOG</a>) has promoted Ahmet Dik to the role of chief executive.</p> <p> A board member already, and head of the company’s main operating subsidiary, Gaz du Cameroun, Dik has spearheaded VOG’s growth.</p> <p> Meanwhile, Chaarat Gold Holdings (<a href="-##!##-/LON:CGH/Chaarat-Gold-Holdings-Ltd/" class="companyPopupTrigger" rel="194">LON:CGH</a>) said the JORC-compliant resource of its gold project in the Kyrgyz Republic has increased 15% to just over 7mln ounces of the yellow metal.</p> <p> Within that the Tulkubash Zone has grown by 26% 912,000 ounces, all of which resides in the higher-confidence measured and indicated categories.</p> <p> Over at Stem cell specialist <a href="-##!##-/LON:EHP/Epistem-Holdings-Plc/" class="companyPopupTrigger" rel="330">Epistem Holdings Plc</a> (<a href="-##!##-/LON:EHP/Epistem-Holdings-Plc/" class="companyPopupTrigger" rel="330">LON:EHP</a>), it is to raise around £6.5mln through a placing of shares at 80p a pop.</p> <p> The issue price represents a discount of 11.1% to the closing mid-market price of Epistem shares on Tuesday, the company noted.</p> <p> Intellectual property specialist <a href="-##!##-/LON:AMP/Amphion-Innovations-Plc/" class="companyPopupTrigger" rel="56">Amphion Innovations Plc</a> (<a href="-##!##-/LON:AMP/Amphion-Innovations-Plc/" class="companyPopupTrigger" rel="56">LON:AMP</a>) swung strongly into the black as two of its portfolio companies, Motif Bio and Kromek, listed in London.</p> <p> Net asset value shot up to 3.8p per share at end December from 0.7p a year earlier as the value of Amphion’s stake in antibiotic developer Motif more than doubled to US$27mln.</p> <p> And finally, Versarien plc (<a href="-##!##-/LON:VRS/Versarien-Plc/" class="companyPopupTrigger" rel="4123">LON:VRS</a>)&nbsp; has teamed up with Airbus supplier CT Engineering to develop a new range of aerospace components using ‘wonder’ substance graphene.</p> <p> A Tier One supplier to the commercial airliner maker, CT specialises in carbon fibre technology and will use Versarien’s expertise in graphene to formulate the new range.</p>     REPORT          View Edit Delete
127461  GOLD, SILVER & PRECIOUS METALS MARKET WRAP 2016-06-23 16:04:00  2016-06-23 16:19:49  2016-06-23 16:18:27  Gold continues to fall as Britons go to the polls  Gold continues to fall as Britons go to the polls  gold, platinum, silver, precious metals, brexit, referendum, rate hike, Fed, FOMC    gold-continues-to-fall-as-britons-go-to-the-polls-127461.html    <p> Gold hit two week lows on Thursdays as the British public took to the polls to decide whether they should leave or stay in the European Union.</p> <p> Over the last week, the markets seem to have decided that a ‘Bremain’ vote is likely to prevail, edging the price of gold downwards.</p> <p> Gold had rallied at the beginning of June when several surveys suggested that a leave vote might prevail in today’s referendum.</p> <p> The uncertainty of a potential Brexit led investors to plough money into the ‘safe haven’ of gold.</p> <p> However, as polls have reversed over recent days, markets have become much more settled, with money flowing back into riskier assets and currencies.</p> <p> The result of the referendum is expected to be announced around 7am UK time on Friday.</p> <p> &nbsp;</p> <h2> Fed and Presidential election to be key drivers again</h2> <p> Regardless of which way the vote swings, analysts expect other drivers, such as an interest rate hike, to come back into the picture for gold.</p> <p> “Once the effects of the referendum results pass, we would expect that gold will eventually focus back on other price drivers and fundamentals,” <a class="companyPopupTrigger" href="-##!##-/LON:HSBA/HSBC/" rel="3429">HSBC</a> said in a note today.</p> <p> Saxo Bank’s head of commodity strategy, Ole Hansen, added: “The focus should fairly quickly return to the multiple supports coming from a dovish FOMC, the diversification/re-allocation story that's been driven by negative sovereign bond yields and concerns about global growth.”</p> <p> “We also have other event risks coming up, with the U.S. presidential election being the biggest of them.”</p> <p> Marex Spectron says a vote to remain could see the price of gold fall, but that could represent a good in-point for investors.</p> <p> “If…we stay in [the EU] then gold should drop. However…[Marex Spectron] would look at that drop as an opportunity to buy.”</p> <p> “The world has enough other problems to keep the gold fires stoked for a while to come,” it added.</p> <p> However, should the UK opt out of the EU, Simona Gambarini from <a class="companyPopupTrigger" href="-##!##-/PRIVATE:CAPE/Capital-Economics/" rel="14601">Capital Economics</a>, thinks that “a vote for Brexit could easily see the gold price surge to US$1,400 an ounce.”</p> <p> Shortly after UK market close, gold was down US$3 to US$1,263, silver was up 5c to US$17.29, while platinum was down US$11 to trade at US$962.</p>     REPORT        View Edit Delete
127459  OIL & GAS MARKET WRAP 2016-06-23 15:47:00  2016-06-23 15:55:08  2016-06-23 15:55:08  Oil prices driven higher on referendum day  Oil prices driven higher on referendum day      oil-prices-driven-higher-on-referendum-day-127459.html    <p> On the day of the EU referendum, oil prices were driven higher by optimism at the polls.</p> <p> It seems market sentiment has improved as investors see support for the UK to remain gaining strong traction, as the appetite for supposedly risky assets, such as oil futures, has returned.</p> <p> On the New York Mercantile Exchange, light, sweet crude futures for delivery in August were up just over 1% to US$49.76 a barrel.</p> <p> August Brent crude on London’s ICE Futures exchange rose 75 cents, or 1.5% to US$50.63 a barrel.</p> <p> In London, Brent crude rose just over 1% to US$50.56 whilst West Texas Intermediary futures rose 1.3% to US$49.78.</p> <p> Prices edged higher after an Ipsos Mori poll showed the Remain camp was edging higher.</p> <p> It found 52% in favour of the U.K. remaining in the EU, while 48% prefer a Brexit just ahead of voting today.</p> <p> ANZ said in a research note that “a positive tone in the commodity markets continues to support prices. However, the gains remain limited as investors await the outcome of the EU vote in the UK."</p>     REPORT        View Edit Delete
127458  WALL STREET 2016-06-23 15:34:00  2016-06-23 15:37:39  2016-06-23 15:37:39  US stocks surge as UK referendum well underway  US stocks surge as UK referendum well underway      us-stocks-surge-as-uk-referendum-well-underway-127458.html    <p> US shares surged at the open as traders mulled jobs data and the City&nbsp; - the UK's financial hub appeared to expect a "remain" result in the EU referendum.</p> <p> The vote on whether the UK will leave or stay in the UK is one of the most closely watched elections in recent years and shapes the next stage&nbsp; of the&nbsp; European project.</p> <p> A leave vote is expected to fuel widespread market turmoil.</p> <p> Traders in the US are also cheering&nbsp;&nbsp; fall in jobless claims to an eight-week low, indicating the strength of the jobs market across the pond.</p> <p> European shares rose to the highest level in more than two weeks in above-average trading as voting got underway on&nbsp; rainy Thursday in the UK.</p> <p> FTSE100 is up 0.52% to 6,294 at the time of writing, while on Wall Street, the Dow Jones Industrial Index is up 146 points at 17,927 and the S&amp;P500 is up 16.41 at 2,101.</p> <p> The tech heavy Nasdaq index added 41.44 to stand at 4,875.</p> <p> In the S&amp;P Midcap 400, shares gained over 19 at 1,510, while the S&amp;P Smallcap 600 added almost ten to 715.08.</p> <p> A notable gainer was Priceline Group Inc (<a href="-##!##-/NASDAQ:PCLN/priceline.com/" class="companyPopupTrigger" rel="5974">NASDAQ:PCLN</a>), which surged 1.35% to US$1,378.5 - the highest level in over seven months after banking titan <a href="-##!##-/LON:BARC/Barclays/" class="companyPopupTrigger" rel="2989">Barclays</a> was upbeat on the online travel services company.</p>     REPORT          View Edit Delete
127424  Versarien Plc 2016-06-23 07:33:00  2016-06-23 16:08:29  2016-06-23 07:40:49  Versarien to work with Airbus supplier to make components  Versarien to work with Airbus supplier to make components  graphene, Airbus, memoranding of understanding    versarien-to-work-with-airbus-supplier-to-make-components-127424.html    <p style="text-align: justify;"> Versarien plc (<a href="http://www.proactiveinvestors.co.uk/LON:VRS/Versarien-Plc/">LON:VRS</a>) &nbsp;has teamed up with Airbus supplier CT Engineering to develop a new range of aerospace components using ‘wonder’ substance graphene.</p> <p style="text-align: justify;"> A Tier One supplier to the commercial airliner maker, CT specialises in carbon fibre technology and will use Versarien’s expertise in graphene to formulate the new range.</p> <p style="text-align: justify;"> Paul Chinnock, CT’s general manager of engineering, said working Versarien would allow it to develop a range of disruptive products with market leading material properties and performance levels.</p> <p style="text-align: justify;"> Neill Ricketts, Versarien’s chief executive, added that aerospace was a new sector for the company and he was excited to be working with a global business such as CT Engineering.</p> <p style="text-align: justify;"> “This is yet another illustration of the very real commercial traction being generated by Versarien's graphene technology," he said.</p> <p style="text-align: justify;"> Versarien owns the exclusive rights to an additive process that uses graphene to create advanced micro-porous metals.</p> <p style="text-align: justify;"> Graphene is a very flexible material just one atom thick that is also a very efficient conductor of heat and electricity and is being increasingly used to enhance the performance of a range of metals and composites.</p> <p style="text-align: justify;"> Ricketts said there was a big drive among aerospace companies to produce lightweight carbon composites that are robust enough to be used on aircraft.</p> <p style="text-align: justify;"> CT Engineering is used by all of the major plane companies as an engineering consultant, he added, and, like Versarien, is learning how to use these new materials.</p> <p style="text-align: justify;"> “This science didn’t exist five years ago,” said Ricketts.</p> <p style="text-align: justify;"> Shares rose 5% to 13.4p.</p> <p style="text-align: justify;"> -adds share price, detail--&nbsp;</p>   Neill Ricketts, Versarien’s chief executive, added that aerospace was a new sector for the company and he was excited to be working with a global business such as CT Engineering. “This is yet another illustration of the very real commercial traction being generated by Versarien's graphene technology," he said.  ARTICLE          View Edit Delete
127435  MARKET MOVERS 2016-06-23 15:30:00  2016-06-23 15:53:14  2016-06-23 09:34:36  Risers & Fallers: Alt. Asset Opps, Chaarat, Imagination Tech, SyQic, VOG, XP Power  Risers & Fallers: Alt. Asset Opps, Chaarat, Imagination Tech, SyQic, VOG, XP Power      risers-fallers-alt-asset-opps-chaarat-imagination-tech-syqic-vog-xp-power-127435.html    <p> Below are some of the main news-driven share price changes at 3.15pm.</p> <h3 style="color:blue;"> RISERS</h3> <p> Alternative Asset Opps PCC Ltd (LON:TLI), up 7.8%. The insurance investment firm is exploring the possibility of a sale of its portfolio.</p> <p> <a class="companyPopupTrigger" href="-##!##-/LON:VOG/Victoria-Oil-%26amp%3B-Gas-plc/" rel="1063">Victoria Oil &amp; Gas plc</a> (<a class="companyPopupTrigger" href="-##!##-/LON:VOG/Victoria-Oil-&amp;-Gas-plc/" rel="1063">LON:VOG</a>), up 5.5%. The company has promoted Ahmet Dik to the role of chief executive.</p> <p> <a class="companyPopupTrigger" href="-##!##-/LON:IMG/Imagination-Technologies-Group/" rel="3497">Imagination Technologies Group</a> PLC (<a class="companyPopupTrigger" href="-##!##-/LON:IMG/Imagination-Technologies-Group/" rel="3497">LON:IMG</a>), up 4.4%. You know it is a slow news day when the appointment of a company secretary generates this level of interest. Guy Millward, chief financial officer, has taken on the role in addition to his current duties.</p> <h3 style="color:red;"> FALLERS</h3> <p> Chaarat Gold Holdings (<a class="companyPopupTrigger" href="-##!##-/LON:CGH/Chaarat-Gold-Holdings-Ltd/" rel="194">LON:CGH</a>), down 3.8%. The company said the JORC-compliant resource of its gold project in the Kyrgyz Republic has increased 15% to just over 7mln ounces of the yellow metal.</p> <p> <a class="companyPopupTrigger" href="-##!##-/LON:XPP/XP-Power/" rel="3234">XP Power</a> Ltd (<a class="companyPopupTrigger" href="-##!##-/LON:XPP/XP-Power/" rel="3234">LON:XPP</a>), down 3.7%. Aberdeen Asset Managers has trimmed its stake from above 10% to 9.97%.</p> <p> SyQic PLC (LON:SYQ), down 3.3%. Liew Tze Min’s stake in the video services outfit has been reduced from more than 5% to zero. On the plus side, Ng Seik Loong’s stake has gone up from nil to above 4%.</p> <hr /> <p> Below are some of the main news-driven share price changes at 12.30pm.</p> <h3 style="color:blue;"> RISERS</h3> <p> Smith (DS) PLC (<a class="companyPopupTrigger" href="-##!##-/LON:SMDS/DS-Smith/" rel="3404">LON:SMDS</a>), up 6.3%. Full-year numbers were slightly ahead of expectations.</p> <p> <a class="companyPopupTrigger" href="-##!##-/LON:IGE/Image-Scan-Holdings-Plc/" rel="3389">Image Scan Holdings Plc</a> (<a class="companyPopupTrigger" href="-##!##-/LON:IGE/Image-Scan-Holdings-Plc/" rel="3389">LON:IGE</a>), up 5.9%. The specialist supplier of X-ray screening systems to the security and industrial inspection markets has signed a distribution agreement for X-ray mail scanning systems with Todd Research, a leading manufacturer in the market.</p> <p> <a class="companyPopupTrigger" href="-##!##-/LON:COB/Cobham/" rel="3216">Cobham</a> PLC (<a class="companyPopupTrigger" href="-##!##-/LON:COB/Cobham/" rel="3216">LON:COB</a>), up 4.5%. <a class="companyPopupTrigger" href="-##!##-/LON:COB/Cobham/" rel="3216">Cobham</a> Aerospace Communications has been awarded a contract by Airbus to supply its new Inmarsat SB200 Evolution service (Class 4) Safety System known as the AVIATOR 200S and 700S for the Single Aisle &amp; Long Range aircraft families.</p> <h3 style="color:red;"> FALLERS</h3> <p> Glenwick PLC (LON:GWIK), down 32%. Booth &amp; <a class="companyPopupTrigger" href="-##!##-/NYSE:LNN/Lindsay/" rel="7183">Lindsay</a> Holdings has slashed its stake from more than 5% to less than 3%.</p> <p> <a class="companyPopupTrigger" href="-##!##-/LON:CRND/Central-Rand-Gold/" rel="78">Central Rand Gold</a> Limited (<a class="companyPopupTrigger" href="-##!##-/LON:CRND/Central-Rand-Gold/" rel="78">LON:CRND</a>), down 4%. Bergen Asset Management has cut its stake from 4.66% to less than 3%.</p> <p> <a class="companyPopupTrigger" href="-##!##-/ASX:THR/Thor-Mining/" rel="1008">Thor Mining</a> PLC (LON:THR), down 2.0%. The Australian tungsten gold explorer and developer said all resolutions were duly passed without amendment at today’s AGM.</p> <hr /> <p> Below are some of the main news-driven share price changes at 9.30am.</p> <h3 style="color:blue;"> RISERS</h3> <p> <a class="companyPopupTrigger" href="-##!##-/LON:CLON/Clontarf-Energy/" rel="763">Clontarf Energy</a> PLC (<a class="companyPopupTrigger" href="-##!##-/LON:CLON/Clontarf-Energy/" rel="763">LON:CLON</a>), up 21%. Yesterday’s news from Ghana continues to drive the share price higher. The Ghanaian Ministry of Petroleum is available for negotiations on Clontarf's proposals for amended coordinates of the Tano Basin block that the company originally applied for in 2008.</p> <p> <a class="companyPopupTrigger" href="-##!##-/LON:AUE/Aureus-Mining-Inc/" rel="1645">Aureus Mining Inc</a> (<a class="companyPopupTrigger" href="-##!##-/LON:AUE/Aureus-Mining-Inc/" rel="1645">LON:AUE</a>), up 9.7%. Aureus has received the sign-off from Liberia’s Ministry of Lands, Mines and Energy for the <a href="http://www.proactiveinvestors.co.uk/companies/news/127428/aureus-new-liberty-mine-restarts-production-after-plant-upgrade-127428.html" target="_blank">restart of work at the New Liberty</a> gold processing plant.</p> <p> <span style="font-size: 14px;">Future PLC (<a class="companyPopupTrigger" href="-##!##-/LON:FUTR/Future-plc/" rel="3485">LON:FUTR</a>), up 7.7%. The international media group and leading digital business is to acquire Imagine Publishing for £14.2m, satisfied through the issue of shares.</span></p> <h3 style="color:red;"> FALLERS</h3> <p> <a class="companyPopupTrigger" href="-##!##-/LON:SDM/Stadium-Group-plc/" rel="942">Stadium Group plc</a> (<a class="companyPopupTrigger" href="-##!##-/LON:SDM/Stadium-Group-plc/" rel="942">LON:SDM</a>), down 26%. The loss of one of the tech firm’s main customers means <a href="http://www.proactiveinvestors.co.uk/companies/news/127429/stadium-to-still-turn-a-profit-despite-lowering-expectations-127429.html" target="_blank">full year results</a> will likely come up short of market expectations, although it does still expect to make a profit.</p> <p> <span style="font-size: 14px;"><a class="companyPopupTrigger" href="-##!##-/LON:DEB/Debenhams/" rel="79">Debenhams</a> PLC (<a class="companyPopupTrigger" href="-##!##-/LON:DEB/Debenhams-/" rel="79">LON:DEB</a>), down 2.4%. Yesterday’s disappointing results continue to weigh on the share price. <a class="companyPopupTrigger" href="-##!##-/NYSE:DB/Deutsche-Bank/" rel="7150">Deutsche Bank</a> has trimmed its price target to 80p from 85p.</span></p> <p> <a class="companyPopupTrigger" href="-##!##-/LON:ONZ/Onzima-Ventures/" rel="14544">Onzima Ventures</a> PLC (<a class="companyPopupTrigger" href="-##!##-/LON:ONZ/Onzima-Ventures/" rel="14544">LON:ONZ</a>), down 1.5%. The investment company said 4.05mln warrants had been converted into shares at 0.7p a throw.</p>     REPORT        View Edit Delete
127429  Stadium Group plc 2016-06-23 08:12:00  2016-06-23 16:08:04  2016-06-23 08:31:15  Stadium to still turn a profit despite lowering expectations  Stadium to still turn a profit despite lowering expectations  Stadium Group, profits, wireless solutions, N+1 Singer, electronic manufacturing services, Stontronics    stadium-to-still-turn-a-profit-despite-lowering-expectations-127429.html    <p> <a class="companyPopupTrigger" href="-##!##-/LON:SDM/Stadium-Group-plc/" rel="942">Stadium Group plc</a> (<a class="companyPopupTrigger" href="-##!##-/LON:SDM/Stadium-Group-plc/" rel="942">LON:SDM</a>), the wireless solutions and power supplies specialist, still expects profits to grow by ‘high single digits’ this year despite the loss of&nbsp; a significant client.</p> <p> Full year results for 2016 will be slightly below market expectations as result, said the electricals group.</p> <p> The customer, which operates in the telematics space, will move product design in-house and manufacturing elsewhere.</p> <p> Broker N+1 Singer now forecasts that Stadium will generate sales of around £52mln in 2016, against its original forecast of £62.1mln, and a profit before tax of £4.4mln, previously £5.5mln.</p> <p> “We are clearly disappointed to lose a significant wireless customer during the period and there's no doubt that this sets us back temporarily in terms of our ambitions for growth,” said chief executive Charlie Peppiatt.</p> <p> “However…we are confident that we now have the teams in place to drive the significant growth expected in 2017 and beyond.”</p> <p> Stadium expects to deliver a “materially higher profit” in the second half of the year, due to the seasonality within the business, compounded by a strong order book.</p> <p> Sales in the group’s electronic manufacturing services business – which it is looking to move away from – are also showing a quicker than expected decline, although this has been “largely off-set by cost reductions and ongoing efficiency improvements.”</p> <p> Recent acquisition Stontronics continues to perform in line with expectations.</p> <p> Chief executive Charlie Peppiatt, finance director Joanne Estell and chairman Nick Brayshaw bought a combined 32,000 shares at a price of between 79p and 80p.</p> <p> Shares were down 30p, or 27%, to 80.16p.</p> <p> &nbsp;</p> <p> -- Update: Directors' dealings --</p>   Stadium Group PLC (LON:SDM), the wireless solutions and power supplies specialist, still expects profits to grow by ‘high single digits’ this year despite the loss of a significant client. “We are clearly disappointed to lose a significant wireless customer during the period,” said chief executive Charlie Peppiatt.  NEWS        View Edit Delete

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