Market Pulse
Europa Oil reports challenging financial performance
Europa Oil & Gas reported a challenging financial performance for the year ended 31 July on Monday, as revenue declined 46% to £3. 6m, reflecting reduced oil production, including a three-month shutdown at its Wressle site, and lower realised oil prices.
Sound Energy and Getech ink Morocco exploration deal
Sound Energy and Getech Group announced a collaboration to explore natural hydrogen and helium resources in Morocco on Monday.
Wise CEO settles FCA investigation into personal tax matters
UK watchdog the Financial Conduct Authority has slapped Wise chief executive Kristo Kaarman with a £350,000 fine to settle an investigation into regulatory disclosures related to his personal tax matters.
Good Energy evaluating takeover proposal from Dubai’s Esyasoft
Good Energy surged on Monday as the renewable electricity and energy services provider said it was considering a takeover proposal from Dubai’s Esyasoft.
Asia report: Markets rise, yen falls after Japan general election
Asia-Pacific markets posted gains on Monday, led by a strong performance in Japan’s stock indices following the country’s general election.
BioVentix reports year of growth, warns of geopolitical risks
BioVentix, a UK-based developer of high-affinity monoclonal antibodies for clinical diagnostics, reported a 6% improvement in full-year revenue on Monday, to £13. 6m, up from £12. 82m in the prior year.
SigmaRoc maintains expectations after solid third quarter
Lime and minerals supplier SigmaRoc reported strong trading in the first nine months of the year on Monday, positioning it for a solid year-end finish.
Gulf Marine Services lifts forecasts after solid third quarter
Gulf Marine Services, a provider of self-propelled, self-elevating support vessels for the offshore oil, gas, and renewables sectors, revised its adjusted EBITDA guidance on Monday after reporting solid growth through the third quarter.
Philips lowers sales outlook amid China weakness
Philips reported flat comparable sales of €4. 4bn for its third quarter on Monday, as the Dutch medical devices maker faced a significant decline in demand from China.
London open: FTSE little changed as BP, Shell gush lower; Budget eyed
London stocks were little changed in early trade on Monday, with energy issues under the cosh, as investors eyed key earnings releases this week and the Autumn Budget.
BT said to explore sale of Radianz unit
BT Group is reportedly working with investment bankers on a possible sale of its Radianz unit as part of chief executive Allison Kirkby’s plan to simplify the UK telecoms group.
Lloyds assessing implications of motor finance court rulings
Lloyds Banking Group updated the market on recent Court of Appeal rulings concerning motor commission arrangements on Monday, which set a new standard for motor dealers acting as credit brokers, requiring them to disclose commissions paid by lenders more comprehensively to customers.
Computacenter warns on profits after softer end to Q3
Computacenter downgraded its full-year profit guidance on Monday after a softer-than-expected end to the third quarter.
London pre-open: Stocks seen up ahead of earnings slew, Budget
London stocks were set to gain at the open on Monday following losses at the end of last week, as investors eyed a slew of key earnings releases this week and the Autumn Budget.
Monday newspaper round-up: Sellafield, HBOS, retail investors
Rachel Reeves has been urged not to carry out mooted funding cuts for nuclear sites including Sellafield amid safety concerns, as it emerged that the number of incidents where workers narrowly avoided harm had increased at the Cumbrian site. The GMB union has written to Reeves, the chancellor, before Wednesday’s budget to raise safety concerns after rumours emerged that the budget for the taxpayer-owned Nuclear Decommissioning Authority (NDA) could be reduced, which could result in cuts at nuclear sites including Sellafield and Dounreay in Scotland.