Late Afternoon
Coffee to hotel group Whitbread plc (LON:WTB) was Footsie's biggest laggard in late afternoon deals as analysts continues to digest yesterday's half year numbers. The share dropped 4.47 to stand at 3,533.5p.
Credit Suisse was one of several brokers to dip into Whitbread plc (LON:WTB) on Wednesday following interim results yesterday and has chopped down the price target to 4,030p from 4,360p.
Others to get in on the act were Societe Generale and Barclays.
London's biggest loser was Impact Holdings (UK) plc (LON:IHUK), which shed over 33% to 25p as it revealed following the hearing on June 30 this year concerning a case concerning the group and and AIG Europe Insurance UK Limited (AIG) that the Supreme Court had found in favour of AIG.
Another loser, down over 11% to 4.75p was Ironveld plc (LON:IRON), the owner of a High Purity Iron Vanadium and Titanium in the Bushveld Complex in South Africa, said it had raised around £1.8 million before expenses through a firm and conditional placing of over 40mln shares at 4.5p each.
The group said the funds would enable it to begin the development phase of the project while seeking to conclude remaining debt agreements.
Morning
Shares in Genel Energy PLC shed 11% in Wednesday’s early deals after the Kurdistan oil producer said output for 2016 is expected at the lower end of guidance.
It had previously given a range of 53,000 to 60,000 barrels of oil per day for the year, and a statement today reveals a third quarter average of 53,100 bopd which is down 8% on the preceding three month period.
Overall, there was 153,500 bopd of exports out of the 167,800 bopd that flowed from Genel’s part owned Taq Taq and Tawke field in the three months.
Genel said it had US$50mln of revenue for the quarter, and noted that cash proceeds from the Kurdistan authorities had amounted to US$163mln in the year to date. It ended the quarter with US$405mln of cash.
Wednesday’s other notable fallers included Shanks Group Plc (LON:SKS) and Antofagasta Plc (LON:ANTO), with the former adjusting for the admission of new capital on the London exchange and the latter lower after a production update.
Equatorial Palm Oil Plc (LON:PAL) was a standout riser, gaining 50% to change hands at 2.88p. Earlier this week it revealed that land development would start up again for its plantations in Liberia
Armadale Capital PLC (LON:ACP) advanced around 12% as it updated on a successful and now complete 2016 drill programme at the Mahenge Liandu graphite project in Tanzania.
And Highlands Natural Resources Plc (LON:HNR) added 9% as it inked a deal for another pilot of its emerging re-fracking technology, for a well in the DJ Basin in Colorado.
Shares in Genel Energy PLC shed 11% in Wednesday’s early deals after the Kurdistan oil producer said output for 2016 is expected at the lower end of guidance.
It had previously given a range of 53,000 to 60,000 barrels of oil per day for the year, and a statement today reveals a third quarter average of 53,100 bopd which is down 8% on the preceding three month period.
Overall, there was 153,500 bopd of exports out of the 167,800 bopd that flowed from Genel’s part owned Taq Taq and Tawke field in the three months.
Genel said it had US$50mln of revenue for the quarter, and noted that cash proceeds from the Kurdistan authorities had amounted to US$163mln in the year to date. It ended the quarter with US$405mln of cash.
Wednesday’s other notable fallers included Shanks Group Plc (LON:SKS) and Antofagasta Plc (LON:ANTO), with the former adjusting for the admission of new capital on the London exchange and the latter lower after a production update.
Equatorial Palm Oil Plc (LON:PAL) was a standout riser, gaining 50% to change hands at 2.88p. Earlier this week it revealed that land development would start up again for its plantations in Liberia
Armadale Capital PLC (LON:ACP) advanced around 12% as it updated on a successful and now complete 2016 drill programme at the Mahenge Liandu graphite project in Tanzania.
And Highlands Natural Resources Plc (LON:HNR) added 9% as it inked a deal for another pilot of its emerging re-fracking technology, for a well in the DJ Basin in Colorado.