Ferrexpo PLC (LSE:FXPO) climbed 9.1% to 166.9p after a corporate and logistics update.
The world's 3rd largest exporter of high grade iron ore pellets to the global steel industry said it has decided to delay the publication date of its full year results, which were previously scheduled for publication on 16 March 2022.
This decision has been made due to the ongoing conflict in Ukraine, which is requiring significant management attention and therefore impacting on the usual internal processes for preparing the group's full year results. The additional time provided by this delay will allow the group to consider the full impact of these events on the accounts, and will provide more time for the group's independent auditor to carry out its own audit procedures, some of which will be affected by the current situation in Ukraine.
2.35p: Oxford Instruments confirms bid approach from Spectris
Oxford Instruments PLC (AIM:OXIG) shares soared this afternoon following a cash and shares takeover proposal from Spectris PLC (LSE:SXS).
Shares in the technology products and services company were up 33.42% to 2,659p on news of the £1.79bn proposal.
The 3,100p per share offer would consist of 1,950p in cash and 1,150p in Spectris shares, marking a sizeable premium on yesterday’s closing price of 2,015p.
1.40pm: Kaspikz JSC rises as it stresses it has minimal exposure to Russia
Kaspikz JSC rose 5.4% to 62.2p after it said it had meaningful exposure to sanctioned Russian financial institutions.
The company, which operates the Kaspi.kz Super App, Kazakhstan's leading mobile Super App (whatever one of those is), said average monthly transactions on its platform per active consumer was up 81% year-over-year to 50.6.
Consumer and merchant trends since the start of the year have been strong, with consistently improving momentum, the company said.
12.45pm: Polymetal plummets
Polymetal International PLC (LSE:POLY), the precious metals mining group operating in Russia, Kazakhstan and Armenia, took a bath on Monday after the sanctions imposed on Russia over the weekend.
The company issues interims on Wednesday and shareholders will be interested in any commentary on how the collapse in the value of the ruble will affect the company.
READ Russian descent is pulling UK-linked stocks with it
11.50am: Fix Price Group ins a fix
Fix Price Group Ltd (LSE:FIXP), down 73%, was London’s worst-performing stock on Monday despite some heavy competition from other Russia-related companies.
The company, one of the leading variety value retailers globally and the largest in Russia, has terminated its agreement with JSC VTB Capital, the bank that was managing the purchases under Fix Price's previously announced buyback programme.
Its board of directors is asking shareholders to vote on a proposal to change the company's jurisdiction of incorporation from the British Virgin Islands (BVI) to the Republic of Cyprus as a public limited liability company.
10.55am: BP battered as it bows to pressure to sell its Rosneft (AIM:ROSN) stake
BP PLC (LSE:BP.) tumbled 5.6% to 357.25p after it said it will give up its 19.75% stake and its two board positions in Russian state-backed oil company Rosneft (AIM:ROSN) following pressure from the UK government.
On Friday, it was reported by the Financial Times that UK business and energy secretary Kwasi Kwarteng had called on BP to explain their holdings in Rosneft (AIM:ROSN) (Rosneft (AIM:ROSN)), which BP has held a stake in since 2013.
The company accounted for around 20% of BP’s profits in 2021, equivalent to £2bn.
10.00am: McColl's Retail plummets on profit warning
McColl's Retail Group (LSE:MCLS) lost 60% of its value this morning after a profit warning - and it does not even have any shops in Russia.
The group responded to media speculation by confirming its remains in ongoing discussions with its lending banks towards a longer-term agreement in relation to the balance of the facility. The group has received the necessary agreement to roll forward its financial covenant test periodically and continues to receive credit support from its key commercial partner to enable these discussions.
The shares slumped after the community retailer said that since the start of the new financial year, there has been a tangible improvement of product availability in stores but the business saw a material step-down in footfall due to the surge in COVID-19 cases relating to Omicron, particularly over the Christmas period. While demand has since picked up, revenues in the first quarter are behind expectations.
9.10am: Infrastructure India jumps after agreeing to sell wind farm assets
Infrastructure India PLC saw its market value increase by around a third after an asset sale.
The company said an agreement has been signed for the conditional sale of Indian Energy (Mauritius) Limited's assets for roughly £5.45mln.
Indian Energy is a wholly-owned subsidiary of Infrastructure India and is an independent power producer that owns and operates wind farms at two sites in the states of Karnataka and Tamil Nadu, with 41.3 megawatts of installed capacity.
Nostra Terra Oil and Gas Company PLC (AIM:NTOG) jumped 4.4% to 0.48p after announcing success at the Fouke 2 well, at the Company's Pine Mills oil field in east Texas.
Fouke 2 encountered 23 feet of excellent quality pay sand in two intervals, significantly exceeding management expectations.
The upper pay interval is 17 feet thick and located within the same reservoir horizon as the offset Fouke 1 but with a thicker, better quality (higher porosity) pay section that is located structurally higher. The lower pay section is 6 ft thick and situated in the Dexter interval of the Woodbine which was wet in the Fouke 1.