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

Pharma & Biotech

Thursday's most followed - UK steel, Ferrum Crescent Ltd, TUI Group and IronRidge Resources Ltd

As footsie remains under pressure, traders have been met today with rolling coverage of the number one UK business story - the future of the country's steel industry.

As footsie remains under pressure, traders have been met today with rolling coverage of the number one UK business story - the future of the country's steel industry.

It comes after Tata has said it will sell its UK business putting thousands of jobs under pressure.

Prime Minister David Cameron has chaired an emergency meeting but has said "nationalisation" is not the answer.

Elsewhere, on the macro front, notably the Office for National Statistics has said UK growth in the final quarter of 2015 was higher than expected - at a revised 0.6% growth compared to the previous forecast of 0.5%.

But other stats were not so rosy with the current account deficit widening to £32.7bn in Q4 from £20.1bn in the third.

Meanwhile, in company news, Ferrum Crescent Ltd (LON:FCR) was the runaway star, adding over 127% to 0.25p a pop as it said it had reinvented itself to focus on generating value from its principal iron ore project in northern South Africa and made director changes.

Also gaining ground, perhaps surprisingly in the current climate, was travel giant TUI travel Ltd (LON:TUI), which today appeared resilient in the face of recent terror attacks in today's trading update and shares rose over 4% to stand atop Footsie.

From UK customers, summer bookings were up 9% year-on-year and revenue was up 8%, while revenues for winter 2015/16 were up 3%.

It had already sold 47% of summer holidays for the year, broadly in line with expectations, it revealed.

Also in focus today again was the closely followed saga of the Horse Hill oil find near Gatwick.

Regency Mines Plc (LON:RGM) chairman Andrew Bell cautioned today that it will take time for the full potential of the Horse Hill oil discovery to be understood.

The AIM quoted mining and natural resources group bought back into the UK oil project in February and it was quickly rewarded as further expectation beating well results lifted the share price.

Bell said in Regency's results today: “The HH-1 well appears to have been the best new discovery onshore UK at least since the Wytch Farm discovery.

“The forthcoming results of independent studies will give more perspective on the scale, but this is likely to be a developing story that will take time for its full potential to be understood.”

Another company in focus was Polypipe (LON:PLP) as the pipe maker reported 8% revenue growth last year while underlying operating profit jumped 17% to £54.2mln compared to £46.3mln the year before.

IronRidge Resources Ltd shares added over 15% to 4.625p and was among the top small cap gainers as it revealed the appointment of a new non-exec director.

Kenichiro Tsubaki (Ken Tsubaki) joins with immediate effect, replacing Thomas Ueda, who has retired, the mining firm said.

Advertisement
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK