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FX Roundup: Yen spike extends into fourth successive session
The yen surged against major crosses on Thursday for a fourth successive session, with the preferred carry trade currency’s safe haven status well and truly intact.
Commodities: Oil futures slide on Iraqi production data
Oil futures fell back into negative territory on Thursday, after bullish calls following an unexpected dip US crude oil inventories petered out and Iraqi data pointed to an above average crude exports figure.
Sector Movers: Resource stocks weigh on London indices
Resource stocks headed lower on Thursday, in tandem with an oil and metal futures decline.
Thursday newspaper share tips: Premier Foods, Next
Mc. Cormick’s swoop for Premier Foods follows the time-honoured tradition by which a company that has successfully restructured is picked up at the bottom, depriving long-suffering shareholders of a reward for their patience, The Times’s Tempus said.
Prime Minister says he paid all taxes on profits from off-shore fund
In an interview with ITV News, Prime Minister David Cameron said he had paid all the taxes due on the stake he held in his father’s offshore investment fund.
Market overview: Shares lower as yen surges
1630:Close London-listed stocks outperformed their peers on both sides of the Atlantic, dragged down by lower copper and oil prices against a backdrop of the Japanese yen trading near its loftiest levels in 18 months. Gold miners did best on both the Footsie and the second-tier index, with shares of Centamin changing hands near record levels. Retailers were also on the front foot following M&S’s latest update, alongside gains in Sainsbury on the heels of an upgrade out of Credit Suisse.
Europe close: Banks, Basic Resource stocks drag equity markets lower
European stocks reversed early gains as oil prices turned came under selling pressure, with risk-appetite broadly lower across asset classes as investors focused on the negative narrative of a more gloomy global economic outlook after the latest European Central Bank and Federal Reserve minutes.
Small caps news round-up
Independent oil and gas explorer and producer Frontera Resources updated the market on positive progress at its South Kakheti Gas Complex on Thursday, situated within its upstream portfolio in Georgia. The AIM-traded company had announced the commencement of operations within the central portion of the South Kakheti Gas Complex, related to a multi-well frac campaign, which had now been completed.
Unite Group promotes Richard Smith to CEO
Unite Group has promoted its managing director of operations Richard Smith to chief executive officer, as incumbent Mark Allan has decided to join St Modwen.
London close: Stocks fall as oil prices reverse gains
UK stocks closed in the red on Thursday as oil prices reversed gains after rising exports in Iraq fuelled concerns about an oversupplied market.
Victoria Oil & Gas gets go-ahead for interest in Matanda
Integrated natural gas producing utility Victoria Oil & Gas announced on Thursday it had received approval from the Government of Cameroon for a 75% participating interest in the Matanda Production Sharing Contract to be transferred to its subsidiary Gaz Du Cameroun Matanda (GDC), from Glencore Exploration Cameroon.
Haydale, Dowton pen deal over new screen printable ink
Haydale Graphene Industries was looking at a sizeable new market on Thursday, announcing a fresh agreement with Dowton Electronic Materials Company for the development, production, sales and marketing of a Haydale-branded graphene-enhanced screen printable ink aimed at the biomedical market.
Director dealings: Bodycote's outgoing FD halves stake before ex-div date
Bodycote's outgoing finance director David Lawless has sold half his shares in the metal heat treatment group.
Indivior to appoint Lizabeth Zlatkus as non-executive director
Speciality pharmaceuticals firm Indivior will appoint Lizabeth Zlatkus as an independent non-executive director with effect from 1 September.
NetScientific losses widen as company remains optimistic
NetScientific’s losses widened in 2015, it reported on Thursday, though it was optimistic about the future having completed a radical restructure of its management and portfolio during the 12 months.
St Modwen appoints Mark Allan as CEO
St Modwen Properties has appointed Mark Allan as chief executive officer with effect from 1 December.
Mondi launches €500m Eurobond
Paper and packaging group Mondi announced the successful launch of a €500m (£403. 5m), eight-year Eurobond, the proceeds of which will be used for general corporate purposes.
Results round-up
Fourth quarter sales at Marks & Spencer were up 1. 9% as the food business outperformed the market but was again held back by weak clothing sales.
Amerisur Resources swings to loss in 2015
South America-focused oil and gas explorer and producer Amerisur Resources swung to a loss on Thursday, with the company claiming strength as it published its results for the 2015 calendar year.
Friday preview: Week winds down with UK economic data
The week is set to wind down with a few economic data releases which include UK trade.