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The Markets
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Proactive UK has moved.
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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.
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Pharma & Biotech

Trending - Brexit, BHS, Nostra Terra, Vodafone...

There has been a flurry of company commentary today, with undertones concerning Brexit,

Brexit fall-out continues although the markets are calmer, with notably FTSE 100 back at spitting distance from where it was before the vote that changed (or did it?) everything.

There has been a flurry of company commentary today, with undertones of Brexit, perhaps the noticeable of all from mobile phone supertanker Vodafone (LON:VOD), which says it may relocate its HQ outside the UK depending on the outcome of negotiations.

Shares in Vodafone plc added over 2.27%, however, to 223p.

Greene King PLC (LON:GKN), the maker of that tipple Old Speckled Hen, raised a glass to last year's results, which saw revenue and pre-tax profit rise impressively, before it took to a stool and began to ruminate on the problems it may face due to less consumer spending due to uncertainty surrounding the vote.

On a more positive vibe, retailer Dixon Carphone (LON:DC.) shrugged off last week’s Brexit vote, saying it would mean more opportunities in both Europe and the UK.

The elephant in the room for many in the run up to the vote, was the issue of what would happen to the LSE/ Deutsche Boerse merger in the event of a leave vote.

And sure enough the deal is looking increasingly unlikely, as the head of the German Financial Supervisory Authority says that the combined business cannot be based in Britain, which had been the plan.

In addition, US Secretary of State John Kerry, who is visiting the UK, suggested Brexit may never happen, though he said he would not run through his suggestions on how it may never come to pass at this stage.

Away from Brexit and a big story today is news car giant Toyota is recalling 1.43mln hybrid cars due to an airbag inflator defect, not made by Takarta, which has been at the centre of such controversy recently.

A big small cap riser was junior oiler Nostra Terra Oil and Gas Company (LON:NTOG), which gained over 19% to 3.13p, as it struck a deal worth US$2.1mln to sell its 20% stake in the Chisholm Trail Prospect, Oklahoma, at a time where crude prices are firming.

Nostra Terra said the timing of the sale was “most opportune” as it highlighted that management has been building a pipeline of potential new opportunities.

There was also good news for stevia-focused firm Purecircle (LON:PURE), which gained over 13% as it said the impasse on shipment of the sweetener, which were detained by US border control earlier this month, had now been lifted.

Earlier this month the group had said the detention order was based on an inaccurate allegation that the shipments contained products that were produced using forced labor.

Finally, the BHS collapse saga continues, with representatives of Goldman, the giant investment bank, taking to the stage before a Parliamentary committee to explains its involvement in Sir Philip Green's sale of the retailer.

Michael Sherwood, for Goldman Sachs in Europe, has reportedly apologised for belatedly disclosing to the committee that the US bank had received a request to provide £40mln of financing for the sale of BHS.

Yesterday, the businessman who introduced former racing driver and bankrupt Dominic Chappell to Green revealed he "never thought in a million years" that he would end up running BHS.

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