Economic and Market News for 11 November 2019
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11 Nov
14:58Evgen Pharma reports disappointing trial results for potential stroke treatmentCaner and neurological-condition focused Evgen Pharma said a trial of a treatment for subarachnoid haemorrhage, a type of stroke, had failed to achieve its primary goal. The primary aim of the...
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11 Nov
14:48Arena Events agrees to £2m debt facility after winning new contractsEvents group Arena Events said it had agreed to a new £2m debt facility, having recently been awarded a number of new contracts across its US, UK and Middle East and Africa divisions. The projects...
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11 Nov
14:43InfraStrata to raise £6m to fund Harland & Wolff acquisitionInfraStrata said it would raise £6.0m from a share issue to fund the acquisition of troubled Irish shipyard Harland & Wolff from administrators. New shares in the company would be issued at...
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11 Nov
14:32Eco Animal Health warns on profits due to swine flu; spots accounting errorsAnimal pharmaceuticals company Eco Animal Health warned of a lower first-half profit and a full-year result potentially significantly below market forecasts. The company blamed the downgrade on an...
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11 Nov
13:58IronRidge Resources discovers magnetic anomaly at Zaranou licence in Ivory CoastIronRidge Resources said it had discovered a magnetic anomaly at the Zaranou gold license in Ivory Coast. The 2.8km long anomaly was centralised within the zone of most intensive hard-rock...
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11 Nov
13:47Greatland Gold starts drilling at Derby North prospect in TasmaniaGreatland Gold said it had commenced drilling activities at the Derby North prospect within the its Warrentinna gold project in Tasmania, Australia. Greatland had previously conducted limited...
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11 Nov
13:35Armadale Capital says mine design being finalised for Tanzania graphite projectAfrican mine project investor Armadale Capital said the mine design for the Mahenge Liandu graphite project in Tanzania was now being finalised following a site visit by the project engineer. The...
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11 Nov
13:28Bacanora Lithium, Chinese partner advance planning for Mexico projectBacanora Lithium said it had sent representative samples from its Sonora project in Mexico to Chinese partner Ganfeng Lithium, ahead of attempting to source additional funding for the project....
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11 Nov
13:14Brady sources loan from takeover suitor Hanover Active EquityCommodities trading services provider Brady said it had entered into a £1.25m uncommitted secured loan agreement with takeover suitor Hanover Active Equity Fund II. Bradly last month announced...
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11 Nov
10:07Agronomics confirms plans to raise up to £20m through equity placingAgronomics confirmed that plans to raise up to £20m through an equity placing. The company said it intended to price the placing shares at 5.5p, but stressed that it had the right to increase or...
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11 Nov
10:03Hardide granted UK patent amid going development of steam and gas turbine bladesSurface coating technology maker Hardide said it had been granted a patent by the UK intellectual property office covering a water droplet erosion resistant coating for turbine blades and other...
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11 Nov
09:56Mereo BioPharma trial of bone condition treatment fails to reach primary goalMereo BioPharma said a clinical trial for its treatment for bone disorder osteogenesis imperfecta failed to achieve its primary endpoint of increasing bone density in the wrist. The company,...
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11 Nov
09:55Abcam agrees to acquire Expedeon's proteomics and immunology business for €120mAbcam said it had agreed to acquire Expedeon's proteomics and immunology business for €120m in an effort to expand expanding offerings into the fast-growing conjugation segment. The acquisition...
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11 Nov
09:50GetBusy teams up with TaxCalc to provide customers with integrated software productsGetBusy said it had entered into a major reseller and integration agreement with TaxCalc to provide customers with integrated software products. Acorah Software Products, which traded under the...
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11 Nov
09:44Benchmark to appoint Septima Maguire as CFOAquatic health company Benchmark said it had appointed Septima Maguire as chief financial officer with effect from 18 December 2019. Mark Plampin would remain CFO of the group until 18 December...
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11 Nov
09:41Oilex says bid deadline for Indian partner stake extend to end NovemberOilex said the closing date for submission of bids for partner Gujarat State Petroleum Corporation's 55% participating interest in the Cambay production sharing contract in India had been...
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11 Nov
09:40CloudCall teams up with Mercury xRM to deliver a unified communications offeringCloudCall said it had teamed up with Mercury xRM's recruitment customer relationship manager to deliver a unified communications offering to their users. The integration would bring together...
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11 Nov
09:37Beowulf reiterates reasons for approval of Kallak mine in SwedenMineral exploration and development company Beowulf reiterated the reasons for the approval of its Kallak North Iron ore project to the Swedish government. The company said that while law firms...
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11 Nov
09:32UK gross domestic product up 0.3% in third quarter, below expectationsUK gross domestic product grew by 0.3% in the third quarter of 2019, according to a preliminary estimate from the Office for National Statistics. The market had been expecting growth of 0.4%....
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11 Nov
09:28Ince confirms annual performance to be in line with expectationsLegal and professional services group Ince confirmed that annual performance was in line with market expectations, with performance likely to be second-half weighted. Traditionally, the group had...
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11 Nov
09:21Solo Oil, Aminex agree spending plans for Tanzania prospectSolo Oil said it had agreed to a 2020 work programme in Tanzania with joint venture partner Aminex concerning the Ruvuma production sharing contract. The partners had agreed to a budget for 2020...
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11 Nov
09:20Just Eat urges shareholders to reject Prosus takeover bidJust Eat said shareholders should reject a takeover bid from Prosus on the basis that it undervalued the company. The food-delivery company continued to recommend a rival bid from Takeaway.com....
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11 Nov
09:15Thor Mining records positive drilling results at Bonya prospect in AustraliaThor Mining said it had recorded positive preliminary results from a second round of drilling at the Bonya project's White Violet deposit in Australia. The prospect was adjacent to the company's...
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11 Nov
08:53Electrocomponents CEO Lindsley Ruth to take temporary leave for medical conditionElectrocomponents said Lindsley Ruth, chief executive, was set to take a temporary leave of absence from the business to receive treatment for a medical condition. Ruth was expected to return to...
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11 Nov
08:25Two Shields Investments lifts holding in WeShop to 7.6%Two Shields Investments said it completed its investment of £0.4m in WeShop, boosting its holding in the online shopping community company to around 7.6%. 'As a market, social commerce is really...
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11 Nov
08:21Tissue Regenix expects to breach revenue loan covenant; in talks with lenderRegenerative medical devices company Tissue Regenix said it was in talks with loan provider MidCap Financial Trust after assessing that it would likely breach on one of loan's terms. The terms of...
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11 Nov
07:58Oriole Resources receives R&D tax rebates from UK authoritiesOriole Resources said it had received rebates of around £105k from UK tax authorities in relation to R&D tax relief claims. The claims were in respect of geoscientific advances sought by the...
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11 Nov
07:47Open Orphan inks preferred partner agreement with IpsenRare and orphan drug consulting services platform company Open Orphan said it had signed a preferred partner agreement with Ipsen. The agreement selected Venn Life Sciences, part of Open Orphan,...
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11 Nov
07:40BHP says petroleum business set to deliver 'strong' returns through 2020sBHP said its petroleum business was set to deliver 'strong' returns through the 2020s thanks to a foundation of quality assets, and attractive growth options. The company outlined a scenario in...
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11 Nov
07:39Motif Bio subsidiary settles with formal clinical researcherMotif Bio said a subsidiary had reached agreement with its former clinical research organisation to settle all obligations without further payment. The pact would result in the reversal of a...
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11 Nov
07:37Reabold, Union Jack welcome study results at West Newton prospectReabold Resources and Union Jack Oil welcomed positive study results indicating a larger resource base at the West Newton prospect in England. The project's operator, Rathlin Energy, had...
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11 Nov
07:30AstraZeneca's drug to treat anaemia in kidney disease patients meets primary goalAstraZeneca said pooled analyses had shown that its drug used to treat patients with anaemia from chronic kidney disease had met its primary goal with no increased cardiovascular risk. The pooled...
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11 Nov
07:29Sirius Minerals reveals revised two-stage development plan for Yorkshire potash projectFertilizer group Sirius Minerals said it had put together a new two-stage development plan for its flagship project in Yorkshire after its original effort ran into funding difficulties. The...
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11 Nov
07:12Rightmove finance director Robyn Perriss to stand downOnline property group Rightmove said finance director Robyn Perriss was standing down. Her departure date would be agreed in due course, but was expected to be during the second quarter of 2020....
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11 Nov
07:09Yew Grove REIT sells Irish industrial property for €1.1mIreland-focused property investor Yew Grove REIT said it had agreed to sell one of its non-core industrial assets, on Heather Road, Sandyford, to an international investor for €1.1m. The sale...
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11 Nov
07:07PCI-PAL chairman Chris Fielding to stand down; be replaced by Simon WilsonPayments company PCI-PAL said recently-appointed director Simon Wilson would succeed Chris Fielding as its chairman. Fielding would remain on the board as a non-executive director and continue as...