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Morning news wrap: London Stock Exchange, Kingfisher, BAE Systems, Eurasian Natural Resources

18th Feb 2010, 7:51 am Morning news wrap: London Stock Exchange, Kingfisher, BAE Systems, Eurasian Natural Resources

In the FTSE 100, London Stock Exchange Group (LSE: LSE) has completed its acquisition of Turqoise Trading Limited to merge it with Baikal Global Limited.

Retailer Kingfisher (LSE: KGF) said Q4 sales were down 1% to £2.3 billion due to adverse weather.

Defence systems manufacturer BAE Systems (LSE: BA) reported sales of £22.4 billion for the full year 2009 compared to £18.54 billion for the previous year.

Eurasian Natural Resources (LSE: ENRC) has agreed to acquire 100% of Enya Holdings BV, which holds a 90% interest in Chambishi Metals and a 100% interest in Comit Resources, a Dubai-based marketing and sales company that has handled Chambishi’s copper and cobalt sales. The aggregate consideration amounts to US$300 million.

In AIM, Gemfields plc (AIM: GEM) initiated a trial underground mining project that it said could provide a number of opportunities into areas with a history of high quality production at its Kagem mine in Zambia.

Iraq and Algeria operating Gulf Keystone Petroleum (AIM: GKP) has negotiated an agreement with BG North Sea Holdings to settle the claims and counterclaims between the parties in the previously announced arbitration, providing an immediate stay of the proposed transfer of the company’s interests in the Hassi Ba Hamou permit for a net cash payment from BG of US$9.9 million.

North American based explorer Nighthawk Energy (AIM: HAWK) has appointed Stuart Eaton as its non-executive director.

African Aura Mining (AIM: AAAM, TSX-V: AUR) reported gold grades of up to 4.92 g/t (grammes per tonne) from its drilling programme at its wholly owned New Liberty gold deposit in western Liberia.

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