Palladium Soars After UK Ups Russian Sanctions
Palladium prices are soaring in early trading on Monday, rising 4% to $2,105 a troy ounce after the U.K. government introduced GBP1.7 billion worth of sanctions on Russia in an effort to damage “Putin’s war machine.” The U.K. government announced GBP1.4 billion worth of import restrictions, with a 35% increase in tariffs on products such as chemicals, platinum, and palladium. “Russia is one of the leading platinum and palladium producing countries and is highly dependent on the UK for exports of platinum and palladium products,” the U.K. government said. Previously, the London Platinum and Palladium Market announced a ban on Russian refined material from two key refiners as a response to the country’s invasion of Ukraine. ([email protected])
Companies News:
Shaftesbury, Capital & Counties in All-Share Merger Talks
Shaftesbury PLC and Capital & Counties Properties PLC said Saturday that they are in talks over a possible all-share merger, but that full terms haven’t been finalized and there is no certainty any deal will be struck.
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Ideagen Agrees to GBP1.06 Bln Takeover by Hg Pooled Management
Ideagen PLC said Monday that it has agreed to a 1.06 billion pound ($1.31 billion) takeover from private equity company Hg Pooled Management Ltd.
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Rightmove CEO Peter Brooks-Johnson to Step Down in February 2023
Rightmove PLC said Monday that Chief Executive Officer Peter Brooks-Johnson has decided to step down from the board and leave the company, effective from February 2023.
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4basebio Loss Widened in 2021 on Higher Costs
4basebio PLC on Monday reported a widened loss for 2021 and said that it will continue to be lossmaking in 2022.
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Made.com Buys Trouva, Increases FY Total Expected Costs
Made.com Group PLC said Monday that it has acquired Trouva, an online platform for independent stores, and that the company is increasing its total expected costs for the year.
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Cerillion 1H Revenue, Pretax Profit Rose Thanks to Strong Demand
Cerillion PLC said Monday that revenue and pretax profit increased for the first half of its fiscal 2022 amid strength in demand for its services.
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Pure Gold Mining to Raise Around $23.3 Mln in Private Placing
Pure Gold Mining Inc. said Monday that it will raise gross proceeds of 30 million Canadian dollars ($23.3 million) from a non-brokered private placing, which will be used to complete near-term business plans and for general corporate purposes.
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Water Intelligence 1Q Pretax Profit Fell on Exceptional Costs, Sales Rose
Water Intelligence PLC said Monday that pretax profit fell in the first quarter, reflecting exceptional costs, but sales rose.
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NCC Group Expects to Post Higher 2H Revenue; Mike Maddison Appointed as New CEO
NCC Group PLC said Monday that the board expects to report a significant rise in revenue for the second half of the year compared to the year-earlier period and the first half of 2022.
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Chill Brands to Raise Around GBP484,000 in Open Offer
Chill Brands Group PLC said Monday that it plans to raise around 484,000 pounds ($597,256) to ensure the company is well capitalized for further growth.
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K3 Capital Isn’t Aware of Any Reason for Share Price Decline; Makes Strong Start to 2H
K3 Capital Group PLC said Monday that it isn’t aware of any reason for the recent decline in its share price and that it has made a strong start to the second half of the year.
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i3 Energy Raises 2022 Income, Capex Guidance
i3 Energy PLC on Monday raised operating income guidance for 2022, which will be used to expand the drilling exploration program and increase the dividend.
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Mincon Group Says 1Q Performance Was Strong, Marked by Growth Across All Sectors
Mincon Group PLC said Monday that its performance in the first quarter was strong as revenue momentum from the last half of the prior year continued, and that it experienced significant growth across all sectors.
Market Talk:
Shaftesbury and CapCo’s Possible Merger Seen to Need More Clarification
0738 GMT – Shaftesbury and Capital & Counties Properties have confirmed they are in advanced discussions regarding an all-share merger, but further details and management communication are needed before the merits for shareholders can be assessed, Citi says. Retail investor Shaftesbury and CapCo’s possible property, corporate overhead and finance cost synergies could meaningfully enhance earnings per share, but net asset value–likely to remain the main valuation metric–would probably stay relatively neutral, Citi analysts Aaron Guy and Aakanksha Anand say in a note. “We remain buyers of Shaftesbury as we estimate that as the West End continues to recover from Covid-19 impacts, and potential inflation impacts rent medium term, West End asset values are likely to rise,” the U.S. bank says, retaining its 755 pence price target on the stock. Shaftesbury shares are down 3.9% at 554.5 pence. ([email protected])
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(END) Dow Jones Newswires
May 09, 2022 04:15 ET (08:15 GMT)
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