Economic and Market News for 2 January 2018

  • 02 Jan
    Wall Street starts year higher on upbeat manufacturing data, strong oil prices

    US markets jumped higher on the first trading day of the New Year, with tax changes now effective and as oil prices remained above the psychological $60 per barrel mark. The IHS Markit 'final' US...

  • 02 Jan
    Markit 'final' US manufacturing PMI up

    The IHS Markit 'final' US Manufacturing Purchasing Managers' Index (PMI) rose to 55.1 in December, up from 53.9 in November. Markit said this signalled a solid improvement in the health of the...

  • 02 Jan
    Randall & Quilter acquires Constantia Insurance

    Randall & Quilter Investment Holdings has acquired Constantia Insurance, a company currently in run-off, from Old Mutual for £1.5m. The purchase price represents a small discount to...

  • 02 Jan
    Novacyt makes fast-growing companies list

    Novacyt said it has been ranked 135 in Deloitte's Technology Fast 500 EMEA index. The awards rank 500 technology, media and telecommunications companies with the highest rate of growth in Europe,...

  • 02 Jan
    PureTech Health affiliate to launch IPO

    PureTech Health said that affiliate company resTORbio has registered to launch an initial public offering of shares in the US. The number of shares to be offered and the price range for the...

  • 02 Jan
    Range Resources Trindad well starts producing

    Range Resources said a recently-drilled well in Trinidad had been put into production. The well, located at the Beach Marcelle field, was flowing at a stabilised rate of 120 barrels of oil per day...

  • 02 Jan
    Centrica confirms voting rights

    Centrica said the the issued capital of the company at 29 Dec comprised 5,600,283,323 ordinary shares. It said this figure excluded 42,060,842 shares held in treasury. It said all of the issued...

  • 02 Jan
    Avation in equity issue

    Avation said that further to its announcement on 8 Dec, 949,000 new ordinary shares had been admitted to trading on London Stock Exchange's main market. It said that following admission, there...

  • 02 Jan
    Sirius Petroleum advances Nigeria project

    Sirius Petroleum has completed a mechanical earth model with services company Schlumberger at its Ororo filed in Nigeria. The model would facilitate a more rigorous completions program on the...

  • 02 Jan
    IWG confirms voting rights

    IWG has confirmed that at the close of business on 31 Dec the company's issued share capital consisted of 923,357,438 ordinary shares. It said 12,986,745 shares were held by the company as...

  • 02 Jan
    Sumo Group acquires Newcastle studio

    Sumo Group said that its Sumo Digital unit has acquired the Newcastle studio of CCP Games for a nominal cash consideration. The studio's 34 staff, including all games developers, became employees...

  • 02 Jan
    UK December manufacturing PMI at 56.3, says IHS Markit

    The UK seasonally adjusted purchasing managers' index for December was 56.3, down from November's 51-month high of 58.2, according to IHS Markit. "The UK manufacturing sector ended 2017 on a...

  • 02 Jan
    Oncimmune forms China distribution partnership

    Oncimmune Holdings has signed a framework distribution agreement for an exclusive licence with Genostics Company, a Hong Kong registered group that is part of China-based Gene Group. The agreement...

  • 02 Jan
    Bank of America has 5.3% holding in Base Resources

    Base Resources said it had been notified that Bank of America Corporation and its related bodies corporate had become a significant shareholder having a relevant interest in 39,585,551 of the...

  • 02 Jan
    Midatech inks $15m loan agreement

    Midatech has entered into a four-year senior secured loan agreement with MidCap Financial of up to $15m. Midatech has received an initial tranche of $7m, with the issuance of further tranches...

  • 02 Jan
    BP to issue over 42m shares under employee schemes

    BP said it would issue and allot 42,167,832 ordinary shares tomorrow (3 Jan) in connection with distributions to participants in certain of its employee share schemes. At 9:11am: (LON:BP.) BP...

  • 02 Jan
    San Leon Energy settles loan facility

    San Leon Energy has settled a loan facility agreement with nominees of funds managed by Toscafund Asset Management in relation to a £11m convertible secured loan. The settlement included the...

  • 02 Jan
    SEC acquires stake in Colombian firm

    Italian public relations firm SEC has acquired a 51% stake in Colombia's Newlink Comunicationes Estrategicas. The purchase price included a net financial position of €70,635 plus up to €2,185,306,...

  • 02 Jan
    C&C Group buys back shares

    C&C Group bought back 50,000 ordinary shares on 29 Dec at an average price of €2.835 apiece for cancellation. At 8:27am: (LON:CCR) CC Group PLC share price was +0.02p at 2.85p Story...

  • 02 Jan
    Mereo BioPharma draws down loan facility

    Mereo BioPharma Group said it has drawn down the second and final £10m tranche of a credit facility set up in August with Silicon Valley Bank and Kreos Capital. Along with its existing cash...

  • 02 Jan
    Thalassa completes WGP sale

    Thalassa confirmed that it had completed the sale of its WGP assets to Fairfield Industries. The deal was first announced on December 19. At 8:19am: (LON:THAL) Thalassa Holdings Ltd share price...

  • 02 Jan
    President Energy sells Louisiana asset

    President Energy has sold its non-operated interest in the East White Lake field in Louisiana to Alpha Imperial for $525,000. The sale would reduce debt and provide more resources to develop the...

  • 02 Jan
    TomCo Energy CEO to stand down

    TomCo Energy said chief executive Christopher Brown would stand down to concentrate on his other business interests. Brown, who holds a 19.57% stake in TomCo Energy, remained supportive of the...

  • 02 Jan
    Carnival buys back shares

    Carnival Corporation & plc bought back 50,000 ordinary shares on 29 Dec at an average price of 4897.7158p apiece to be held in treasury. At 8:08am: (LON:CCL) Carnival PLC share price was -29p...

  • 02 Jan
    Watchstone confirms CEO appointment

    Watchstone Group confirmed the appointment of Stefan Borson as its new chief executive, replacing Indro Mukerjee. At 8:07am: (LON:WTG) Watchstone Group Plc share price was -0.63p at 110.25p...

  • 02 Jan
    Summit Germany to sell office building for €51.4m

    Summit Germany has agreed to sell a German office building for €51.4m to an undisclosed buyer. The sale price is 24% above the property's €41.4m valuation as of September 30, 2017, the company...

  • 02 Jan
    Mobile Streams appoints new director

    Mobile Streams has appointed Jonathan Bill as a new non-executive director. Bill worked at Vodafone from 2002 to 2013, holding roles including senior vice president of Internet services and...

  • 02 Jan
    Primary Health Properties secures financing

    Primary Health Properties said it has obtained a new lending facility from Lloyds Bank and renewed an existing facility with Aviva. Aviva agreed to renew a £75m secured loan facility to November...

  • 02 Jan
    Caledonia declares quarterly dividend

    Caledonia Mining Corporation's board has declared a quarterly dividend of 6.875 cents per share. The dividend will be paid on 26 Jan to shareholders of record on 12 Jan. Chief executive Steve...

  • 02 Jan
    Obtala directors lend money to Hong Kong arm

    Africa-focused agribusiness Obtala said its Hong Kong subsidiary had sourced a new loan to fund its timber trading activities. An initial $1m has been funded in the form of a 10-year loan to...

  • 02 Jan
    Elektron appoints Nomad

    Elektron Technology, the global technology group, has appointed Nplus1 Singer Advisory as the company's nominated adviser and sole broker with immediate effect. Story provided by...

  • 02 Jan
    UK Commercial Property Trust appoints new director

    UK Commercial Property Trust confirmed that Margaret Littlejohns has joined its board as a non-executive director. John Robertson, who was due to retire at the end of December 2017, has agreed to...

  • 02 Jan
    St. James's Place confirms new CEO appointment

    St. James's Place confirmed that Andrew Croft has commenced as chief executive of the company, replacing David Bellamy. Craig Gentle has replaced Croft as chief financial officer. The changes...

  • 02 Jan
    Synthomer sells German site

    Chemicals group Synthomer has sold its Leuna site in Germany to Alberdingk Boley for an undisclosed sum. The site was acquired as part of the company's acquisition of Hexion PAC in 2016....

  • 02 Jan
    RDI REIT completes €205m German sale

    RDI REIT said it has completed the sale of its Leopard Portfolio of German retail properties to Patrizia Immobilien for a total of €205m. The sale price reflects a 10.8% premium to book value, the...

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