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The Markets
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The Markets
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Pharma & Biotech

Fridays most followed, including JD Wetherspoon, New World Oil & Gas, Facebook, Goldman and oil

As the politicos and pundits eagerly await the result of the Labour leadership vote, attracting interest on the net was among other things, the oil price and pub chain JD Wetherspoon..

As the politicos and pundits eagerly await the result of the Labour leadership vote, attracting interest on the net was among other things, the oil price and pub chain JD Wetherspoon (LON:JDW).

Tim Martin, the ever outspoken chairman, used today's annual results to attack gov't plans to hike the national minimum wage.

He said the proposals in the summer's Budget were "inevitably putting financial pressure on pubs, many of which have already closed". So the new leader may not be celebrating his or her victory with a pint, it seems.

Martin also said: "As we have previously stated, we believe pubs are taxed excessively and that the government would create more jobs and receive higher levels of overall revenue if it were to create tax equality among supermarkets, pubs and restaurants."

From what people earn to what people spend, as the Wetherspoon boss's comments come on a week where the scale of the UK consumer debt burden was laid bare, according to at least one report.

Households are sitting on a mountain of £173billion after being lured into a spending splurge by banks and credit card companies, according to Money Mail.

If you don't know the oil price has crashed, you must be living in a cave, and heavyweight broker and bank Goldman Sachs had more on the subject today.

The glut is even bigger than Goldman had realised, it reckons, which could drive prices as low as US$20 a barrel.

It has slashed its forecast for Brent and WTI crude through 2016 on the basis that oversupply will persist on OPEC production growth, resilient supply from outside and slowing demand. Brent Crude is down at the time of writing over 2% to US$47.53.

For some, the oil price really is changing everything. The possible future of junior New World Oil & Gas (LON:NEW) took another twist as rebel investors proposed a team to take it in an entirely different direction - medical technology.

The rebels, represented by lobby group NWOGaction, are backing the nomination of three directors to the board at the company's forthcoming annual meeting.

They said one of the candidates, Adam Reynolds, had identified a project and team to take the company into medical technology. He and the other two candidates, Nick Mustoe and Mark Collingbourne, have been involved in medical companies Optibiotix Health (LON:OPTI) and Premaitha Health (LON:NIPT).

Elsewhere, office space group Regus (LON:RGU) saw shares advance on the back of speculation it could be the subject of a multi-billion pound takeover bid.

Social media giant Facebook (NYSE:FB.) was also in the news, as it expands into London's prime office space.

It has inked an unconditional agreement with Great Portland Estates (LON:GPOR) to lease all consented office space at Rathbone Square for 15 years.

GPE has also given Facebook rights of first offer on space at 73/89 Oxford Street, W1, known as 1 Dean Street.

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