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News & Tips: Polo Resources, Hansteen, Trap Oil, Capital & Regional, Bellzone Mining, XG Technology & Aortech International

Today's market overview

A quiet start to post Christmas trading, with all eyes on the US where the fiscal cliff talks are likely to drag on for a few days yet.

IC TIP UPDATES:

Simon Thompson recommendation Polo Resources (POL) has acquired a further 850,000 shares in Signet Petroleum which means it now owns 48.2 per cent of the company.

Industrial property specialist Hansteen (HSTN) has acquired a portfolio of industrial estates for £60m from The Industrial Trust. We keep our buy rating.

KEY STORIES:

Capital & Regional (CAL) is to sell its 50 per cent stake in Xscape Braehead to its joint venture partner Capital Shopping Centres.

Oil explorer Trap Oil (TRAP) has said that its drilling on the Romeo licence in the North Sea is running around 16 days behind schedule due to delays. Meanwhile the company has also confirmed the acquisition of a 15 per cent stake in the Athena producing field.

OTHER COMPANY NEWS:

Bellzome Mining (BZM) has announced the shipping of the first consignment of iron ore from its Forecariah project in Guinea.

The directors of wireless communications technology developer XG Technology (XGT) have said they are considering a float on Nasdaq.

Aortech International’s (AOR) interim results ate published today showing a significant reduction in revenues from $£2.64m to $822,000. The company also confirms that it continues to struggle for funds although the resolution of a recent legal dispute will help. The polymers business is up for sale.

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By Graeme Davies,
27 December 2012

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