Most European markets opened lower Tuesday, with the major benchmark indexes unable to gain traction due to the ongoing problems in Ukraine, while overnight Hong Kong and Shanghai markets were hit due to the latest liquidity draining of China’s central bank.
IC TIP UPDATES:
Brewing giant SABMiller (SAB) posted a 3 per cent rise in full-year revenues, helped by sales volume increases in both beer and soft drinks, and said it is reviewing its holding in African hotel company Tsogo Sun Holdings. Full-year sales volume rose 2 per cent, with lager volume up 1 per cent and soft drinks 5 per cent.
Capita (CPI) has agreed to acquire AMT-SYBEX Group Limited (`AMT') for an initial consideration of £82m on a cash free, debt free basis, plus a contingent consideration of up to £23mn based on the business reaching specific profit targets.
Cohort's (CHRT) subsidiaries MASS and SCS have been awarded contracts totalling in value £6m. MASS has been awarded two contracts to provide its EW Data Management System, known as THURBONTM, to customers in the Middle East and Far East with a total value in excess of £3m.
KEY STORIES:
Rio Tinto's (RIO) iron ore production has fallen short of some analyst expectations, with the miner producing 66.4m tonnes of iron ore from its global operations. The Pilbara ended up producing just 63.4m tonnes, with the reduced volumes blamed on cyclones and heavy rain.
UK recruiter Michael Page International (MPI) said its businesses in Germany and France returned to growth in the first quarter, helping gross profit rise 7 per cent in constant currency. Gross profits came in at £127m, just ahead of an analyst consensus
African Barrick Gold (ABG) announced further positive results from an exploration programme in Kenya where the company is undertaking drilling and surface Induced Polarisation geophysical surveys. Assay results from a further 327 reconnaissance Aircore drill holes have been returned underlining the prospectivity of the site.
Aker Solutions (OIPT) has won a NOK 14bn contract from Total to provide a subsea production system for the Kaombo Block 32 development in Angola. Aker Solutions will deliver 20 subsea manifolds and 65 vertical subsea wellsets. The order also includes associated controls as well as work-over and tie-in systems.
OTHER BUSINESS NEWS:
It has been reported that WS Atkins (ATK) has been selected as preferred bidder on a new contract with Sellafield Ltd for its Silos Direct-encapsulation Plant (project, as part of an equal three-way joint venture with Areva and Mace.
Zanaga Iron Ore Company (ZIOC) announces that the Feasibility Study on the Zanaga Iron Ore Project, located in the Republic of Congo, is currently in the final stages of completion and the results are expected to be published in early May 2014.
Sky and TalkTalk (TALK) announce that they have joined forces with CityFibre to create a new company that will deliver ultra-fast broadland in the City of York.
