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News & Tips: Centamin & Codemasters

A thumping Conservative victory in the general election has sent equities into overdrive
December 13, 2019

The absolute certainty of the Conservative Party's general election victory has enthused traders in London this morning as the log jam created by Brexit division looks set to be finally lifted. In response all UK indices are up strongly with the domestically focused FTSE250 leading with the way with a gain of more than 4 per cent. Click here for The Trader Nicole Elliott's latest thoughts on the markets. 

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Gold miner Centamin (CEY) - a buy tip this week - has shifted radically from its plan for retiring chief executive Andrew Pardey to stay on for up to 12 months while his successor is found. The company announced on Friday morning Mr Pardey had left the board and would be replaced in the interim by CFO Ross Jerrard. In the retirement announcement in October, chairman Josef El-Raghy said Mr Pardey would stay on as part of “an orderly handover to the appointed successor”. He will remain available to the board.  as an “advisor” until October next year. Centamin also announced Anglo American director James Rutherford would join the board next year and take the chairman role by the end of 2020. 

It’s been a big month for the company: Canadian-listed gold miner Endeavour Mining went public with its merger plans with Centamin this month, although the London company’s board swiftly rejected the all-share offer. Buy

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Hot on the heels of its acquisition of rival studio Slightly Mad at the end of November, Codemasters (CDM) has unveiled a game based on the successful Fast and Furious movie franchise. The game is one of the three launches Slightly Mad was working on at the time of acquisition, and opens up the possibility of further tie-ins with major studios.