Market News:
FTSE 100 6810.94 +6.34 +0.09%
FTSE 250 17926.89 -4.40 -0.02%
FTSE AIM All-Share 775.93 +0.19 +0.02%
FTSE 100 Largely Unchanged, But Diageo Soars
0736 GMT [Dow Jones]--London's FTSE 100 index is largely flat
shortly after the open, outperforming the weaker European markets.
Diageo shares are leading the pack, up close to 7% after reports
late Friday of buyout interest. Diageo on Monday declined to
comment. Elsewhere shares in Vodafone are up 1.1%, making the telco
giant the second biggest gainer. Shares in Vodafone fell late last
week, amid disappointment the company is engaging in an asset swap
with Liberty Global rather than a merger. Shire is the biggest
decliner, down 2.2%. GKN is the second biggest faller, down
1.5%.
Companies News:
Drax FY Expectations Unchanged Despite Weak Power Market
Coal-fired power station operator Drax Group PLC (DRX.LN) Monday
said its full year expectations are unchanged as a strong
operational performance and contracts help it cope with weak power
prices.
ACE Ups Offer for ARMS; Secures Backing From Nathaniel
Rothschild
Investment vehicle Asia Coal Energy Ventures Ltd. said Monday it
increased its takeover offer for Asia Resource Minerals PLC
(ARMS.LN) by 37% and in the process secured full support for its
bid from the Indonesian coal miner's co-founder and major
shareholder Nathaniel Rothschild.
Games Workshop Fiscal 2015 Profit To Be In Line With Market
Views
Games Workshop Group PLC (GAW.LN) said Monday that it expect
profit for the year ended May 31 to be broadly in line with market
expectations.
Victoria Oil to Exceed 2015 Production Target
Victoria Oil & Gas PLC (VOG.LN) said Monday that it expects
to exceed its 10.5 million standard cubic feet per day target for
the calendar year 2015.
Tritax Big Box REIT Proposes to Raise GBP125M Via Placing
Tritax Big Box REIT PLC (BBOX.LN) intends to proceed with an
institutional placing of new ordinary shares at a price of 113
pence per share to raise up to 125 million pounds ($190.7
million).
Mirada Sees Fiscal 2015 Trading Results in line with Market
Expectations
Mirada PLC (MIRA.LN) expects full year trading results to be in
line with market expectations, despite project delays.
Concha In On-going Investment Opportunity Talks
Concha PLC (CHA.LN) said Monday that as part of the on-going
discussions regarding a specific global opportunity within its
investment scope, the company's Asian based nonexecutive Director
Gordon Watson is stepping down.
Pendragon No Longer Buying California Dealership
Car retailer Pendragon PLC (PDG.LN) said Monday it won't be
going ahead with the acquisition of a dealership in California, as
Lexus is exercising a right to buy it.
Enables IT Group 1H15 Pretax Loss Narrows
Enables IT Group PLC (EIT.LN) Monday reported a narrowed
first-half fiscal 2015 pretax loss, despite revenue falling 23%,
due mainly to lower costs and a foreign exchange gain.
Phoenix IT Swings to Profit
Phoenix IT Group PLC (PNX.LN), an information technology
services company, Monday swung to yearly profit.
Atlantic Coal FY Pretax Loss Widens After Harsh Winter
Atlantic Coal PLC (ATC.LN), an anthracite coal company with
activities in Stockton, Pennsylvania, Monday reported a wider full
year pretax loss after being hit by the harsh winter and a fall in
coal prices.
Trans-Siberian Gold FY Production Rises, Swings to Pretax
Profit
Trans-Siberian Gold PLC (TSG.LN) Monday reported rise in gold
and silver production for 2014, as it swung to a pretax profit for
the period mainly due to a 32% reduction in cost of sales.
Filtronic Trading in Line
Filtronic PLC (FTC.LN), a designer and manufacturer of microwave
electronics products for the wireless telecom infrastructure
market, Monday said its wireless and broadband businesses are
trading in line with expectations.
Market Talk:
UK's Cyan Holdings Slumps on Share Sale Plan
0745 GMT Cyan Holdings PLC shares are trading 19% lower at 0.21p
apiece, as the developer of smart energy metering solutions says it
plans to raise GBP4.1 million from the sale of discounted shares.
The technology firm will issue 2.06 billion shares at 0.20 pence
each, a 23% discount to last Friday's closing mid-market price of
0.26p. Cyan says it will use the new money to pay for projects it
has recently won and for further product development work.
Citi Lifts UK Bookmaker William Hill's Target Price
0736 GMT Citi lifts William Hill PLC target price to GBP5.00
from GBP4.25 and believes the bookmaker is significantly
undervalued. "Risks from further tax and regulation have diminished
now that the U.K. political uncertainty is unwinding," the equity
research analyst writes. Citi says William Hill's relative low
valuation, strong cash generation and online market leadership are
key reasons to drive its buy recommendation as shares currently
trade up 2.1% at 430p.
Diageo Soars on Takeover Talk
0734 GMT [Dow Jones]--Diageo soars 6.9% to 1882p on talk
Brazilian billionaire Jorge Paulo Lemann's buyout company 3G is
eyeing the company. Jefferies, however, is cautious. Says a pure
leveraged buyout of Diageo would be well beyond anything 3G have
previously contemplated. However, all this could imply a move for
Diageo by Anheuser-Busch InBev--Mr. Lemann's private equity firm 3G
owns ABI--which feels more plausible. Adds either way, "this feels
like a prompt for a re-evaluation." Jefferies has a buy
recommendation with a 2100p target price. Diageo declined to
comment.
Contact: London NewsPlus, Dow Jones Newswires;
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