Market Report
Independent Oil & Gas makes progress on Harvey well, core project
UK-focussed development and production company Independent Oil and Gas updated the market on the Harvey appraisal well and other key corporate activities on Tuesday, reporting that its preparations to drill Harvey with the Maersk Resilient jack-up rig were now “well-advanced”.
JKX reports initial results from second workover well at Koshekhablskoye
JKX Oil & Gas updated the market on the initial test results of Well 5 on the Koshekhablskoye field in Russia on Tuesday, reporting that it was producing 171,thousand cubic metres per day of gas and five barrels per day of condensate, or 1,022 barrels of oil equivalent per day.
BigDish keeping busy as it works on gradual expansion
Restaurant yield management platform operator BigDish updated the market on its operations on Tuesday, announcing that it was launching Brighton on its platform next week.
UK construction sector slumps to decade low
UK construction output plunged to a 10-year low in June, data published on Tuesday revealed, as deepening political and economic uncertainty halted investment.
Springfield Properties' 'strong' first-half performance continues into H2
Scottish housebuilder Springfield Properties said on Tuesday that strong growth across its private and affordable housing divisions in the first half of its trading year carried over into the second.
Reabold raises £2.65m via placing
Oil and gas investor Reabold raised £2. 65m on Tuesday via a placing of 240. 9m new ordinary shares at a price of 1. 10p each - a 29% premium to both the price at which it last raised funds and its 90-day volume weighted average price.
Fastjet chief executive takes off
Low-cost African airline Fastjet announced on Tuesday that chief executive Nico Bezuidenhout will be standing down from the role and leaving the company at the end of September.
National Grid begins consulting on network investments to be made from 2021
National Grid has submitted draft RIIO-T2 business plans for electricity and gas transmission to its independent user groups and Ofgem's RIIO-2 Challenge Group, it announced on Tuesday.
L'Oreal in talks to buy Mugler, Azzaro from Clarins
L'Oreal confirmed on Tuesday that it has entered into exclusive negotiations with the Clarins Group about the potential acquisition of perfume brands Mugler and Azzaro.
Ryanair traffic jumps 13% in June
Budget airline Ryanair reported 13% jump in June passenger numbers on Tuesday.
London open: Stocks edge higher as Sino-US trade talks remain in focus
London stocks rose in early trade on Tuesday, but gains were unspectacular as initial enthusiasm over the Sino-US trade truce agreed over the weekend gave way to some doubts.
Avast board approves new CEO's plan to waive his salary
Avast announced on Tuesday that its chief executive officer Ondrej Vlcek has notified the board of his intention to indefinitely waive his annual salary and bonus, and instead receive a nominal annual salary of $1.
Wizz Air sees operations grow further as emissions per passenger improve
Wizz Air saw further growth in its operations in June, it reported on Monday, with its seat capacity for the month rising 17% year-on-year to 3. 798 million, while the number of passengers carried was up 19. 1% to 3. 609 million.
WPP in exclusive talks with Bain Capital over Kantar stake sale
Advertising giant WPP confirmed late on Monday that it was in exclusive discussions with private equity firm Bain Capital about the sale of its majority stake in market research group Kantar, in a deal that would value the business at $4bn.
London pre-open: Stocks seen up amid optimism over Sino-US trade relations
London stocks were set to rise at the open on Tuesday, taking their cue from a positive session on Wall Street, with sentiment still underpinned by optimism over Sino-US trade relations.
Second quarter revenue rises for Plus500, WPP in talks to sell Kantar to Bain Capital
London open The FTSE 100 is expected to open 20 points higher on Tuesday, having closed up 0. 97% at 7,497. 50 on Monday.
Tuesday newspaper round-up: Woodford fund, British Steel, WPP
Investors will be locked into Neil Woodford’s flagship fund for at least another month after a block on withdrawals was extended. The Woodford Equity Income Fund – which was valued at £3. 7bn at the end of May – will stay closed until the next review deadline of 29 July, preventing hundreds of thousands of customers from accessing their money. – Guardian.
US close: Wall Street rises on Washington-Beijing trade truce
Wall Street finished in the green on the first day of July, after a session that saw participants digesting news coming from China, Japan and North Korea over the weekend.