Early signs indicate that China’s gold demand rebounded in the first quarter after a 25 per cent plunge in 2014. Meanwhile, the Shanghai Composite Index was up three per cent on Monday, one of its largest one-day percentage gains of the year, amid speculation about state-owned enterprise reform. The index is already up 39 per cent in year to date, following on from last year’s gains.
Extending the Asian theme, our trader Nicole Elliot examines Fitch's cut in Japan’s credit rating to A from A+
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Support services and construction firm Kier Group (KIE) has agreed to acquire road maintenance company Mouchel for £265m, financed by a £340m fully underwritten rights issue.
Specialist engineering group Hayward Tyler (HAYT) has noted an improvement in underlying gross and operating margins in the second half of its financial year. As a consequence, sales are expected to increase in line with expectations, suggesting a 10 per cent year-on-year increase.
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As predicted, oil giant BP (BP.) revealed a sharp fall in profit to $2.13bn for the first quarter as the fall in oil prices takes its toll.
Whitbread (WTB) said its chief executive Andy Harrison would retire by next February as it posted a better than expected rise in full-year profits.
Bite and Lexis PR owner Next Fifteen (NFC) reported a 44 per cent rise in full-year operating profits, and announced two more acquisitions to grow its content capabilities.
Antenna manufacturer MTI Wireless Edge (MWE) said it will buy Israel-based wireless control products and services provider Mottech for around £3.2m, a deal that will give it a new wireless services recurring revenue stream.
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Banco Santander (BNC) said profit rose 32 percent in the first quarter, propelled by growth in lending on the three continents where it does business.
Irish mineral sands miner Kenmare Resources (KMR) has pulled some staff out of Mozambique as a precaution following anti-immigrant riots in South Africa.
Following comments in yesterday's press, UK Oil & Gas Investments (UKOG) has released an update to the market on licensing arrangements and their expiry dates for the Horse Hill oil and gas find in the Weald Basin. The shares responded positively.
Koninklijke Philips NV posted a 28 per cent fall in first-quarter net profit, hurt by costs related to the separation of its lighting activities.
An eleventh-hour ceasefire has been agreed between Alliance Trust (ATST) and activist hedge fund investor Elliott Advisors.
A strong performance from its refining segment helped France’s oil major Total beat analysts’ expectations and mitigate the effects of the fall in crude prices.
