Jon has been reporting on stock markets for over twenty-five years for audio text companies (remember them?!), newswires, and websites. He helped set up MarketEye News for ICV/Topic in the 1990’s before moving on to become a Markets reporter at AFX News. After over 10 years, which saw him rise to the dizzy heights of Markets Editor at AFX, the firm’s acquisition by Thomson Corp and subsequent takeover of Reuters, he moved on in 2012. Prior to Proactive Investors, he was News Editor for thisismoney.co.uk, the Mail Online’s financial website.
In a note to clients today, Jefferies’ analysts said its ‘hold’ rating for IP Group was based on the “looming funding requirement (est. £100m in each of 17E, 18E)"
Petrofac was the London market’s biggest faller, with its share price plunging by nearly 30% to reach its lowest level since the first half of 2009, wiping around £630mln off its total market value
DMGT reported an 5% fall in first-half adjusted pre-tax profit to £105mln, as underlying revenues increased by just 1% to £890mln, reflecting pressures in its information business and planned investment costs
For the year to March 31, the FTSE 250-listed company posted pre-tax profits before one-off items of £75.4mln, down from £81.5mln a year earlier, although that was slightly ahead of market expectations for £74.8mln
The FTSE 250-listed group said its group revenue was £2.91bn in the four months to the end of April , up 17.9% at actual currency and 8.1% at constant currencies
YA Global Investors LLP, the 75% owner of Coos Bay and a holder of 15.53% of the voting interests in Curzon Energy, has agreed to sell its majority holding in Coos for US$4mln which will be satisfied by the issue of 40mln new ordinary shares
In its latest construction update statement, the AIM-listed firm said “all aspects of construction continue to progress on time and on budget with first gold pour due before the end of 2017.”
In a note to clients, the US bank’s analysts said: “Since early July 2016 JDW’s share price has increased 50% and the shares are now trading close to our 1,030p target price.”