Oil prices are in limbo ahead of next week's meeting of OPEC oil ministers in Vienna. Most analysts believe that the cartel will hold to the existing production quota at 30m barrels a day, although there will be increased pressure from high-cost OPEC producers, who will be pushing for higher oil prices.
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International waste management business, Shanks Group (SKS) has launched its first Green Bond Issue to retail investors in Belgium and the Grand Duchy of Luxembourg to raise up to €150m. The Bonds are guaranteed by 29 subsidiary guarantor.
Industrial chain manufacturer Renold (RNO) has reported underlying adjusted operating profits rose by almost a half in 2014/15, which is ahead of market expectations.
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Range Resources (RRL) revealed that it has signed a conditional new funding deal worth up to $35m. A memorandum of understanding with newly-established investment fund Beijing Sibo Investment Management sets out the terms of a conditional share subscription, although that it will not be completed until the latter part of this year.
Budget carrier Ryanair (RYA) has reported a 66 per cent hike in net profits in the last year. Profits rose to €867m (£613.6m) in the 12 months to March. The number of customers also rose by 11 per cent over the period from 81.7m to 90.6m, which generated a 12 per cent increase in revenue.
Horticulture business William Sinclair Holdings (SNCL) said that it is facing a "funding shortfall", which could result in fundraising, disposals or operational changes. Its new management team is addressing non-profitable operations and customer contracts following a detailed review of the business.
Coms (COMS) announced that it exchanged contracts to hive-off its telecoms operations to Timico Limited for an initial consideration of £2.5m payable in cash.
New Zealand-focused oil & gas driller Kea Petroleum (KEA) has suspended its shares after a fundraising exercise failed.
Parasite control specialist TyraTech (TYRU) has entered into an exclusive distribution with SmartPak Equine to launch an insect repellent called Outsmart Fly Spray. SmartPak is the largest retailer of equestrian products in the United States.
Saga Investment Services, the investment and financial planning business owned by Saga (SAGA) and Tilney Bestinvest, has announced the appointment of Nicola Audhlam-Gardiner as managing director.
OTHER COMPANY NEWS:
Irish engineering group Mincon (MCON) said revenue rose 40 per cent in the first quarter of the year as additional revenue from acquisitions boosted results. Excluding the impact of the new buys, the company’s revenue was flat, with the first quarter of the year traditionally a quieter period following winter shutdowns and vacation time.
Samsung is to merge two of its major units in an $8.1bn all-share deal, part of a major restructuring at the South Korean group.
