In a week in which London's chief diplomat unsuccessfully lobbied for fresh sanctions against Russia, Highland Gold Mining (HGM) - one of the more stable Russian gold miners listed in London - released full-year results. Understandably, risks that the Syrian inferno will further engulf the world's superpowers has affected the gold price, which at $1,276 (£1,020) an ounce is 11 per cent up so far this year. Souring international relations have also held back the rouble, which since the beginning of 2016 has steadily strengthened against the dollar with higher oil and gas prices.
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Is life as good as it gets for Howdens?
Howdens is a very good business. But growing its profits is proving to be difficult, while its cash flow and working capital position suggests that business risks could be increasing
Phil Oakley