Today's market overview
Shares may be off a tad in early trading but The Trader Dominic Picarda believes that the bulls are still in charge for now.
IC TIP UPDATES:
Kurdistan-focused oil explorer Gulf Keystone (GKP) has reported that Excalibur Ventures, which commenced a legal action against Gulf Keystone in 2010, has been ordered to pay £4.7m into court as security against costs for Gulf Keystone and £3.3m for Texas Keystone as part of the ongoing court case. We keep our buy on Gulf Keystone.
Vodafone (VOD) has entered into a strategic security and mobile partnership with BAE Systems (BA.) to supply communications security products and services. As part of the deal BAE has selected Vodafone as its mobile partner across its global operations, apart from the US. We maintain Vodafone as a buy.
Ambient foods supplier Greencore (GNC) has confirmed that, after the withdrawal of an Asda Bolognese sauce found to contain traces of horse meat last week, its other products have been tested and found no trace. Meanwhile the facility in Bristol that supplied the Bolognese sauce has been closed and deep cleaned.
Sirius Minerals (SXX), the North Yorkshire potash project developer, has signed a marketing contract with Keytrade for it to market 1.75m tonnes of its polyhalite production once its mine is up and running.
House builder Crest Nicholson (CRST) has made its return to full trading on the London Stock Exchange this morning, with shares changing hands at 265p a share.
WH Ireland (WHI) has agreed the acquisition of private wealth management business Tenebris Realisations from its administrators for just £25,000.
Lok’n Store (LOK) says trading has begun the year well with occupancy up by 6.2 per cent at the end of January.
Asia-focused oil and gas business Salamander Energy (SMDR) has confirmed that the first four of 16 wells planned for the Bualuang field offshore Thailand are now in production and performing ahead of expectations. Production in the year to date has averaged 10,531 barrels of oil per day, compared with 7,200 in 2012.
Supermarket Wm. Morrison (MRW) is reported to have agreed a deal to acquire 49 stores from the bust Blockbuster chain, which will accelerate its convenience store plans.
OTHER COMPANY NEWS:
Diamond explorer Sunrise Resources (SRES) has seen its shares slip in early trading after disappointing initial test results from its exploration at the Cue project in Western Australia.
Hi Wave Technologies (HIW) has admitted that talks which are ongoing to sell part or all of the company are unlikely to result in value for shareholders.