Market Report
Pallinghurst makes unsolicited bid for remaining Gemfields shares
Gemfields advised its shareholders not to take any action on Friday after it received an unsolicited offer from its biggest shareholder, Pallinghurst, for the remaining 52. 9% of the company it doesn't already own.
US pre-open: Stocks seen touch higher as politics take a back seat
US futures pointed to a firmer start on Wall Street as stocks got back on track following a mid-week, Trump-inspired selloff.
Friday newspaper round-up: Consumer concerns, Brexit M&A, migration, SFO
British consumers are bracing themselves for an expensive and uncertain post-Brexit future, with four out of five fearing price rises on household essentials such as food, drink and clothing, a survey has revealed. Eighty-three percent of Britons admit they are concerned about price hikes in goods and services, while 59% are most worried about the soaring cost of groceries, according to a poll for Mintel’s 27th annual British Lifestyles report. Spiralling holiday costs are a concern for 35%, with 26% fearing higher prices for clothing and shoes.
Smiths Group CFO O'Shea steps down
Chris O'Shea is stepping down as chief financial officer of engineer Smiths Group with immediate effect and the search for his successor has begun.
Friday broker round-up
Shire Pharmaceuticals: HSBC downgrades to Reduce with a target price of 4450p.
Eurocell reports 'positive' start to year
Eurocell updated the market on its trading performance for the first four months of 2017 on Friday morning, in advance of its annual general meeting which was being held during the afternoon in Alfreton.
Jefferies downgrades Experian to 'hold'
Jefferies downgraded credit checking company Experian to 'hold' from 'buy' and cut the price target to 1,550p from 1,670p following the company's preliminary full-year results on Thursday.
Suitors extend Shawbrook takeover offer deadline
Shawbrook Group suitor Pollen Street has extended its offer deadline as it looks to coax more shareholders to support its takeover offer of the challenger bank.
Magnolia to participate in seven new wells, 11 workovers
US-focussed oil and gas exploration and production company Magnolia Petroleum announced its participation in seven new wells in the prolific SCOOP and STACK plays in Oklahoma on Friday, including five increased density wells which are to be drilled on the same spacing unit as already producing wells, and are therefore deemed to have been significantly de-risked.
Plexus receives purchase order from Aker BP
Oil and gas engineering services business and owner of the POD-GRIP proprietary friction grip wellhead engineering technology, Plexus Holdings, announced on Friday that it has received an initial purchase order from Aker BP which, following the acquisition by Det norske of BP's Norwegian assets, is Norway's largest independent petroleum producer by volume.
Gresham House agrees to buy Hazel Capital
AIM-listed specialist asset manager Gresham House has entered into exclusivity arrangements and conditional heads of terms to acquire Hazel Capital, a UK asset manager of new energy infrastructure, for an undisclosed sum.
Johnston Press revenues nudge up, warns over 'challenging' market
Newspaper publisher Johnston Press posted a 0. 2% rise in total revenues for the 17-week period to the end of April as it noted that trading conditions for regional newspapers remain challenging.
Europe open: Greece moves back into the spotlight
Greece is in the spotlight at the end of the week even as the angst around the political situation in the US over the past few days appears to have calmed down, at least for the moment.
Moss Bros reports rise in sales, confident over full year
Menswear specialist Moss Bros reported a rise in sales for the first 15 weeks of the year as it expressed confidence it will meet its market expectations for the year.
London open: Stocks in the black as Trump worries subside for now
London stocks edged higher in early trade, taking their cue from an upbeat session on Wall Street, where shares rebounded from this week's Trump-inspired selloff.
Cairn Energy makes solid progress in 2016, CEO says
Investors in Cairn Energy were gathering in Edinburgh on Friday for the company’s annual general meeting, with chief executive Simon Thomson set to update them on the firm’s strategy to deliver “sustainable value growth” for shareholders from a “balanced portfolio” of exploration, development and production assets.
Grainger ups dividend as it sees great growth in residential rental market
Private landlord group Grainger hiked its interim dividend 10% after a first half where it secured half of its investment target and cut costs in a market where the proportion of privately rented homes is at its highest levels since records began in 1980.
CMA refers Just Eat/Hungryhouse merger for in-depth probe
The Competition and Markets Authority has referred Just Eat's proposed acquisition of Hungryhouse to an in-depth phase 2 investigation.
Legal & General Solvency II surplus capital increases
Legal & General said on Friday that its Solvency II surplus capital has increased to around £7bn.
More Peppa Pig episodes on the way, says Entertainment One
Entertainment One announced the start of production on a new series of Peppa Pig on Friday.