Market Report
PowerHouse pleased with testing progress at Thornton Science Park
PowerHouse Energy Group updated the market on its progress with the demonstration system at the University of Chester’s Thornton Science Park on Friday, after the ‘Distributed Modular Gasification’ (DMG) system was successfully commissioned after a complete rebuild and upgrade on its arrival in the UK last year.
Access Intelligence losses widen despite expanding contract values
Software and computer services firm Access Intelligence saw a strong performance in new business and increased upsell into its existing client base throughout the twelve months leading to 30 November, growing its annual contract value by more than £600,000 in just the second half of the year.
Construction sector remains under pressure, confidence shattered
UK construction companies reported little easing in subdued trading conditions, according to a survey released on Friday, with confidence near five-year lows and on course to record a fourth consecutive quarter of reduced output.
AFH Financial performing in line, chairman says
Investors in AFH Financial Group were set to be told that the company was continuing to perform in line with expectations at its annual general meeting in Bromsgrove on Friday.
Savannah investment moves a step closer to Oman licences
Resource development company Savannah Resources announced on Friday that approvals have been received for all eight of the required Oman government permitting approvals for the Maqail South Mining Licence application, and seven for Mahab 4, with only the Ministry of Housing remaining.
Ipsos to invest around £3m in Big Sofa
AIM-listed Big Sofa said on Friday that market research organisation Ipsos has agreed to invest around £3m in the company by way of a subscription for 16. 4m ordinary shares at 18. 5p each.
Old Mutual's Nedbank pleased with 2018 prospects
Nedbank Group, the majority-owned South African banking subsidiary of Old Mutual, issued its preliminary audited results for the year ended 31 December on Friday, reporting that it continued to create value for all stakeholders in a “challenging” political and economic environment.
Johnson Matthey nabs Jason Apter to run health division
Johnson Matthey announced the appointment of Jason Apter as its sector chief executive of health on Friday, confirming he would join the company on 5 March and be based in the US.
ASOS CFO Helen Ashton to leave
ASOS said on Friday that chief financial officer Helen Ashton will be leaving the online fashion retailer in the summer.
London open: Stocks fall on US trade war fears; May's Brexit speech eyed
London stocks fell in early trade on Friday after the White House sparked worries about a trade war and as investors eyed a key Brexit speech by Prime Minister Theresa May.
ConvaTec buys Texas-based J&R Medical
FTSE 250 medical products and technologies company ConvaTec has announced the acquisition of Texas-based catheter-related supplies distributor J&R Medical for an undisclosed sum.
Mondi hands out dividend reams as prices and costs rise
Mondi, the South African packaging and paper group, will pay out a bumper special dividend on top of an already healthy payout for last year as it reported modest profits growth and "strong upward momentum" in pricing.
Just Eat installs Mike Evans as new chairman
Takeaway food delivery marketplace Just Eat announced on Friday that its board has appointed Mike Evans to the role of non-executive chairman, with effect from 26 April.
GKN confirms talks with Dana over sale of auto business
Engineer GKN, which is currently fending off a £7. 4bn hostile bid from turnaround specialist Melrose Industries, confirmed on Friday that it has engaged in talks with US-based Dana about a potential sale of its automotive division, Driveline, as part of a deal which would be effected mainly in equity.
Friday newspaper round-up: Carillion, Rio Tinto, gas supply, Siemens
The board of Carillion dismissed a proposal that could have poured £218m into the government contractor’s ailing pension scheme, believing a month before the company’s collapse that they could still revive its fortunes. Details of a plan drawn up by accountancy firm EY, but rejected by directors, emerged as MPs conducting an inquiry into Carillion’s failure released evidence they said proved “pervasive institutional failings” at the company. - Guardian.
London pre-open: Stocks seen lower as Trump prompts trade war fears; May's Brexit speech eyed
London stocks were set to fall at the open on Friday after US President Trump sparked worries about a trade war, and as investors eye a key Brexit speech by UK Prime Minister Theresa May.
US close: Wall Street finishes lower after Powell's second testimony
Wall Street finished lower on Thursday as investors sifted through a slew of economic data, and digested Fed Chair Jerome Powell’s second testimony this week.