The End of the Day Wrap provides a summary of the most interesting articles published by Proactive Investors during the day, including all of the main stories and exclusive interviews with executives.


FTSE 100 dips but keeps its head above 6,100

January 16 2013, 5:29pm
Thomson holidays group TUI Travel confirmed that major stake holder TUI AG has approached it to talk about a full merger of the two companies.

Profit-takers had the top-share index in a loose head-lock today.

Miners were a major drag on the index, especially Xstrata (LON:XTA) and Glencore (LON:GLEN) ahead of the imminent consummation of their merger. The former fell 3.4% and the latter 3.2%.

Lloyds Banking (LON:LLOY) was another weight on Footsie’s back, slipping 2.5% in the wake of a downgrade from Australian broker Macquarie Capital.

In other broker news, mobile phoned giant Vodafone (LON:VOD) slid 2.0% on the back of a Deutsche Bank downgrade to ‘hold’, but alcoholic drinks heavyweight Diageo (LON:DGE) shrugged off a downgrade from Société Générale and rose 0.2%.

Thomson holidays group TUI Travel (LON:TT.) confirmed that major stake holder TUI AG has approached it to talk about a full merger of the two companies. The merger has been on the cards for some time, but the stock still rose 3.9%.

Forbidden Technologies (LON:FBT) enchanted investors on AIM, up 12% on the back of the success of its video editing platform during the Olympics.

Chief executive officer Stephen Streater told Proactive Investors today that having NBC using its technology for the biggest sporting event in the world made a lot of other sports broadcasters sit up and take notice.

Widespread use of the technology during the Games boosted Forbidden’s revenues in 2012, while sales growth exceeded the 50% predicted by analysts by “a respectable margin”.

Surpassing even Forbidden Technologies’’ eye-catching gain was Silence Therapeutics (LON:SLN), up 22%, after Richard Griffiths, the founder of Evolution Securities, increased his stake to 7.31% from 6.71%.

Xenetic Biosciences (LON:XEN), up 30.5%, left both Forbidden and Silence in its slipstream.

Sound Oil (LON:SOU), up 10%, was wanted after it raised just over US$3mln (£1.9mln) via the fifth and sixth tranches of a share placement programme first announced last summer.

The stock was sold at a volume weighted price of 9.45 pence. The final tranche will expire on February 11.

The cash injection leaves the company with US$12.4mln and no debt. It said this morning it expects to begin drilling of the Nervesa appraisal well in northern Italy, with between US$14-$15mln in the bank. The cost of the work is put at around US$1.8mln to deliver a project with a net present value of US$60mln.

Angle (LON:AGL) pointed downwards, after two days of huge gains that added more than 45p to the share price, taking it to 75p by Tuesday’s close. Shares were down 20% to 59.625p.

Advertisement Register here to be notified of future articles.

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.