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Morning news wrap: Thomas Cook, Cairn Energy, HSBC Infrastructure

30th Nov 2009, 7:59 am Morning news wrap: Thomas Cook, Cairn Energy, HSBC Infrastructure

Tour operator Thomas Cook (LSE: TCG) announced its final results, reporting a 6% increase in revenues to £9.27 billion and a 13% rise in EBIT (earnings before interest and taxes) to £415 million. Earnings per share rose 10% to 26.4 pence.

Oil and gas company Cairn Energy (LSE: CNE) has agreed to acquire the 9.99% interest Dyas BV owns in Cairn’s exploration focused subsidiary Capricorn for US$95 million, which will be paid in Cairn’s shares along with Capricorn’s interests in Tunisia and Albania, giving Dyas a 15% interest in the Louza permit and a 7.5% interest in Nabeul permit in Tunisia and a 15% interest in Block Joni-5 in Albania.

In the FTSE 250, HSBC Infrastructure (LSE: HICL) has acquired an incremental 22.92% interest in the Greater Manchester Police Authority PFI project, taking its total interest in the project to 72.92%.

In the AIM, Turkey and Ethiopia operating gold miner Stratex International (AIM: STI) has announced a gold discovery in the Afar region of Ethiopia and the issue of a three year 1,579 sq km (square kilometre) exclusive exploration license.

Machine to machine (M2M) communications specialist Telit Communications (AIM: TCM) has decided to place 26.5 million new shares to raise £5.3 million, with the placing price representing a 17.6% premium to the stock’s closing price of 17 pence on Friday, 27 November.

Ukraine focused gas producer, Regal Petroleum (AIM: RPT) has updated the market of its operations in Ukraine, saying the MEX-106 well was producing at a stable rate of 75,000 cu m/d (cubic metres per day) and 12 cu m/d, or 75 barrels of oil equivalent per day, of condensate. The SV-58 well has been completed.

Argentina focused gold explorer Patagonia Gold (AIM: PGD) has said the area in the Santa Cruz province in Argentina hosting its Lomada de Leiva, Cap Oeste and La Manchuria projects, has been designated as an “area of special interest for mining.”

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