Gold prices remained steady ahead of what is expected to be the final chapter in the Federal Reserve’s bond-buying stimulus program – for now at least.
IC TIP UPDATES:
Sirius Minerals (SXX) said that the fertiliser it plans to produce from the York Potash project in North Yorkshire has been proven to help growth rates for high-value chilli and celery crops. Studies carried at Warwick University and Texas A&M in the States used POLY4, a powder and granulated product derived from the polyhalite produced by Sirius. It outperformed the traditional muriate of potash, or MOP, as an aid to boost yields. The combined market for these two crops is $3.1bn annually.
Experienced financier Glenn Poulter is set to join the board of Rambler Metals and Mining (RMM), the miner operating in Newfoundland and Labrador, Canada.
KEY STORIES:
Stagecoach Group (SGC) is on track to record strong profit growth after the bus and rail operator reported rising passenger numbers. Like-for-like revenue growth for the 24 weeks ending October 12 rose 3.2 per cent in its UK regional bus operations, 14.5 per cent in its London bus operations, 7.4 per cent in UK rail, 3.5 per cent at its North American operations and 5.8 per cent in its Virgin Rail joint venture.
Solo Oil (SOLO) and UK Oil and Gas (UKOG), together with Angus Energy Ltd, have formed a partnership to submit an application for a license in the UK's 14th Landward License Round covering a 200 kilometre squared area in the southern area in the Isle of Wight. To facilitate this, UKOG has today drawn the first $1m of a new $10m unsecured debt facility.
An update from Johnston Press (JPR) shows a ‘narrowing of decline’ in total revenues – down 3.1 per cent in the third quarter compared with 4.3 per cent in the first half of the year. The group, which publishes many well-known titles across the north including The Yorkshire Post, reported growth up 40 per cent year on year in its digital audience.
Revenues at Irish food group Glanbia (GLB) were up 8 per cent in the nine months to October, while full-year guidance of 8 per cent to 10 per cent growth in adjusted earnings per share has been maintained. Revenues in its global performance nutrition division rose by 14 per cent versus the same period a year earlier. The global ingredients division recorded revenues that were 11 per cent higher, while full-year performance for the division will be broadly in line with that of last year.
The share price of Northcote Energy (NCT) slipped into reverse after the company reported increased production from one of the Lutcher Moore wells at the Shoats Creek project, but added that one of the wells had been shut-in.
The share price of Image Scan Holdings (IGE) was up by a fifth the manufacturer of X-ray imaging systems announced that it has signed an initial two year partnership agreement with Sectus Technologies Inc. to distribute Image Scan's portable X-ray security product range throughout Canada, the Caribbean and Central and South America.
OTHER COMPANY NEWS:
The Serious Fraud Office has launched its 13th criminal proceeding in its Libor rate fixing investigation. Former Tullet Prebon Group (TLPR) employee Noel Cryan is alleged to have conspired to defraud between 1 February 2009 and 3 December 2009.
