Market News:
FTSE 100 6855.28 -18.24 -0.26%
FTSE 250 16862.06 +14.28 +0.08%
FTSE AIM All-Share 703.09 +2.91 +0.42%
Top Stories:
U.K. Interest Rates May Rise Sooner, Says BOE's Weale -
Report
Interest rates in the U.K. may have to rise sooner than
investors expect, a member of the BOE's rate-setting Monetary
Policy Committee said.
BHP Billiton to Sell Pakistan Gas Unit
BHP Billiton has agreed to sell its Pakistan gas business to a
unit of local conglomerate Hashoo Group, underscoring an ongoing
drive by the world's largest miner to slim down its global
operations.
888 Shares Slide as Talks With William Hill End
888 Holdings shares were down more than 13% after the online
gambling group said talks about a possible 720 million pound
takeover by U.K. bookmaker William Hill have ended.
Companies News:
Fidessa Earnings Fall on Strong Sterling
Fidessa Group, a U.K.-based maker of software for financial
trading systems, said the business is making progress amid
improving market conditions even as it posted a fall in full-year
earnings, hit by a strong sterling.
African Minerals CEO Resigns
Embattled African Minerals said that Alan Watling resigned as
chief executive officer and director of the company on Feb. 13,
further aggravating the company's woes as it tries to secure
financing to restart its operations.
Balfour Beatty Sells Interest in Thanet Project
Balfour Beatty, the infrastructure group, said it has sold its
80% interest in the Thanet offshore transmission project for GBP40
million to funds managed by infrastructure investor Equitix.
Hammerson FY Profit Rises
U.K. shopping mall owner Hammerson reported a rise in full-year
profit as increasing demand for prime retail space boosted rental
growth across its portfolio.
AstraZeneca: US Court Rules Pulmicort Respules Patent
Invalid
AstraZeneca said that a U.S. court has ruled that its pulmicort
respules patent is invalid in the U.S., and it is considering
whether to appeal.
Quindell: Morgan Stanley Has 5% Stake
Insurance and legal services company Quindell PLC (QPP.LN)
Monday said that the bank Morgan Stanley (MS) has a 5% stake in the
company.
CPPGroup CEO Steps Down
CPPGroup PLC (CPP.LN) said Brent Escott stepped down as Chief
Executive with immediate effect.
Weatherly International Trading Suspended
The London Stock Exchange said Monday that at the request of the
company, trading on AIM for Ordinary shares of Weatherly
International PLC (WTI.LN) has been temporarily suspended from 1335
GMT, pending an announcement.
Bluefield Solar Income Fund Acquires Solar Plants
Bluefield Solar Income Fund said it has acquired three
U.K.-based, large scale solar plants for 54 million pounds.
Europa Oil & Gas Shares Rise After Agreement to Sell Stake
in Tarbes Permit
Shares in Europa Oil & Gas (Holdings) rose after the firm
agreed to sell a majority stake in the Tarbes Permit in France.
Kea Petroleum Begins Strategic Review
Kea Petroleum PLC (KEA.LN), an oil and gas company focused on
New Zealand, said it is reviewing its strategic options that could
result in a merger, a sale, a farm down or disposal of assets.
Hunting Warns of Lower Profitability
International energy services group Hunting said that the recent
oil price slump will negatively affect the company's profitability,
prompting it to cut its headcount and reduce all non-essential
costs.
Sylvania Platinum Swings to Profit
Shares in Sylvania Platinum jumped more than 10% Monday as it
reported a swing to a pretax profit, reflecting increased
production and lower costs.
Just Eat Moves Into Mexico With Sindelantal Acquisition
Takeaway food portal Just Eat PLC (JE.LN) Monday said it has
acquired Mexico's Sindelantal Mexico from Seaya Ventures, without
disclosing financial details.
Playtech Buys Mobile Gambling Firm
Online gambling technology company Playtech said it is buying
Scottish mobile gaming technology group Yoyo Games Ltd for $16.4
million, plus an expected $5.25 million related to earnings and a
retention plan.
Imaginatik Wins Two Contracts
Imaginatik, a consultancy and technology company, said it has
signed two contracts--one with a U.S. based biotech company and
another with a Canadian media service, both for an initial one-year
term.
Aer Lingus Appoints Chief Executive
Irish budget airline Aer Lingus Group said it has appointed
Steven Kavanagh chief executive from March 1, replacing Christoph
Mueller.
JKX Oil & Gas Launches Abritration Proceedings Against
Ukraine Government
JKX Oil & Gas said it has launched arbitration proceedings
against Ukraine's government for failing to treat JKX's investment
in a "fair and equitable manner" and for failing to comply with
commitments.
Fitbug Shares Rise
Fitbug Holdings shares are on the rise in early trading after
the wearable fitness devices maker said U.S. Midwest retailer
Meijer will stock its Fitbug Orb and eight Kiqplans from April
2015.
Mwana Africa Shares Fall
Shares in U.K.-listed Mwana Africa fell after the miner reported
lower gold and nickel output and prices as well as higher costs for
its third financial quarter.
Shares in 24/7 Gaming Plummet
The reverse takeover of a former U.K. mobile-gaming company has
fallen through, sending its shares plummeting on the London stock
market.
Impala Platinum Issues Profit Warning on Production Setbacks
South Africa-based Impala Platinum Holdings warned that its
earnings for the first half of its financial year would be lower
than previously forecast due to production setbacks at two mines in
South Africa and another in Zimbabwe.
Other News:
Lord Browne Adds to His Boardroom Duties with Huawei
John Browne, the former chief executive of BP, has taken on
another high-profile role in Britain PLC--joining the U.K. board of
Huawei, the controversial Chinese telecommunications equipment
maker that's making a big push in Europe.
Investors Become More Bullish on Oil-Price Recovery
As oil prices continued to rise from multi-year lows touched in
January, investors last week became more bullish and increased the
number of bets on a recovery in prices. Net long positions, taken
by large investors that the price of Brent crude oil would rise,
increased 13% during the past week, according to the Commitment of
Traders report from Intercontinental Exchange.
Market Talk:
Numis Upgrades Hunting to Buy
1402 GMT --Numis upgrades Hunting to buy from reduce, "given
that we now believe the market is ahead of the sell-side and much
of the downside risk is priced in." Numis reduces its earnings
forecasts, but highlights Hunting's current FY16 P/E estimates are
materially too low based on its historical trading range. Numis has
554p target price. The market takes a different view and marks
Hunting down 5.5% to 469p.
Internet TV is Material Threat to Pace Numis
1323 GMT --Internet-enabled TV sets represent a material threat
to set top box maker Pace PLC's (PIC.LN) business, says Numis as it
cuts the stock to reduce from hold and its target to 280p from
360p. Notes Pace could be in for a big shock as favorable
conditions it is enjoying come to an end. "We believe the well
received SlingTV product from DISH Network Corp. (DISH) will be the
first of many new platforms and a product from Apple Inc. (AAPL)
finally looks forthcoming," it says. In an interesting aside, Numis
notes that regulatory changes and the growth of Internet TV could
spell trouble for traditional pay-TV operators, who rank low in
customer satisfaction.
Demand for Oxford Property Soars as Londoners Relocate
1300 GMT --Prime property prices in Oxford rose 1.8% in the last
quarter of 2014, taking the annual rise to 6.1%, Knight Frank
reports. Demand from Asia and Russia climbed as the proportion of
international buyers rose to 17% from 11%, but more notable was a
huge surge in people moving to the university town from London. 18%
of buyers were Londoners, compared with just 3% in 2013. In all,
52% of buyers were non-locals, up from just 24% in 2013. As well as
lower house prices than London's, buyers were drawn by plentiful
jobs, good schools and a new London rail link opening next
year.
Contact: London NewsPlus, Dow Jones Newswires;
+44-20-7842-9319