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The Markets
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Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Pharma & Biotech

Most followed - Petra pulls in US$10mln for rare pink

It looks like someone may be delighted when they see what's under the tree this year - as Petra Diamonds (LON:PDL) revealed it had sold a rare pink diamond it unearthed last month in Tanzania for just over an eye watering US$10mln.

It looks like someone may be delighted when they see what's under the tree this year - as Petra Diamonds (LON:PDL) revealed it had sold a rare pink diamond it unearthed last month in Tanzania for just over an eye watering US$10mln.

In fact, the stone, which is not yet polished, is unlikely to be covered in gift wrap just yet, as it was bought by Golden Yellow Diamonds on behalf of M.A. Anavi Diamond Group - a leading diamond manufacturer.

Petra received US$10.05mln for the rough stone but is also letting out a festive cheer as it retains a 20% interest in the sales proceeds of the polished product.

It was one of the most closely followed stories of the morning and shares in Petra went 2.45% higher, as European stockmarkets looked to be pulling themselves slowly out of the pit.

Trading in diamonds is not something most of us know anything much about, along with Bitcoin probably, and certainly not the founder of this virtual currency - which has been a mystery.

Until now that is.

Craig Wright, an Australian IT consultant, has been named by Wired and Gizmodo, two online tech blogs, as the most likely creator of the currency following a raid on his house in Sydney on tax-related matters.

Allegedly, emails and documents – which have so far not been verified – point to Wright as the creator of Bitcoin and that Satoshi Nakamoto, the supposed inventor of the virtual currency, was his pseudonym.

Also in focus today were UK banks savings rates, or, indeed the lack of them, as accounts that pay the most measly rates are being named and shamed by the FCA under new moves to try and get better deals for Britain's beleaguered savers.

The City regulator decided to reveal this after finding out at the start of 2015 that £160billion of funds were earning the same or less than the Bank of England's bargain basement 0.5% interest rate.

It also emerged that banks could be forced to send text messages to customers when their interest rates are about to drop.

Peppa Pig owner Entertainmet One (LON:ETO) saw its shares surge almost 14% today after sinking recently after losing over 30% after announcing a refinancing deal, which was not approved by the market.

It was also strongly upgraded by broker Peel Hunt to 'buy' from 'reduce'.

Last week, it said it was taking the new debt at a rate of 6.875% over seven years.

The stock also benefited from an upgrade in rating today by broker Peel Hunt to 'buy' from 'reduce', with an unchanged target price of 200p.

Also today, Google may be known as an employer, which provides snacks and games to staff but this year's new ranking survey from Glassdoor shown it has been knocked off top spot as best company to work for.

That accolade belongs to travel company Expedia, while Google moves to 8 in the list of top 25.

Some new entrants to the list, which is based on feedback direct from employees, includes GE, Oxfam and ARM Holdings

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