Shares News

The board of Canadian gold miner Avesoro Resources (ASO:AIM) has recommended a takeover offer at £1 per share from controlling shareholder Avesoro Jersey to acquire the remaining stake in the company that it doesn’t already own. For minority shareholders, this means they now need to vote whether or not to accept the offer. Shareholders who do not take any action will not receive the cash ...

Yet again the float of oil and gas titan Saudi Aramco, which was scheduled to get underway in November, has been delayed indefinitely. As is often the case with an IPO the debate is over valuation with investors not buying the argument that the world’s largest oil company should be valued at $2tn. A plan to pay an annual dividend of $75bn in 2020 would translate as a 3.8% yield at that ...

Shares in food delivery company Just Eat (JE.) rocketed 23% higher to 730p today after a bidding war broke-out between investment firm Prosus and Dutch deliveries rival Takeaway.com. As shares commented in August this year, the all-share bid from Takeaway.com valued Just Eat at roughly half the multiple that it paid for German company Delivery Hero, so always looked too stingy to persuade ...

Shares in builders’ merchant Travis Perkins (TPK) climbed 3.4% to a new 12-month high of £15.40 following a positive third quarter trading update. Like-for-like sales for the three months to the end of September were up 3.4% with a strong contribution from the Wickes retail business up 9.7% and an even stronger performance from the Toolstation division up 15.4%. New chief executive ...

Shares in Premier Inn-owner Whitbread (WTB) have remained broadly flat at around £41.95 despite Brexit uncertainty contributing to a lower half year profit. In its results for the six months to 29 August, adjusted operating profit fell 7.7% to £296m while adjusted revenue was effectively flat at £1.08bn. A big drag on its results were the performance of Premier Inn, with its hotels ...

Shares in consumer health and hygiene company Reckitt Benckiser (RB.) fell 5.2% to a three-month low of £55.68 after it lowered its full-year revenue growth and operating margin forecast for the second time. After a ‘disappointing’ third quarter, sales for the year are now seen flat to up 2% compared with a previous forecast of up 2% to 3% and operating margins will see a ‘modest ...

Shares in online musical instruments retailer Gear4music (G4M:AIM) rallied 6.2% (12.5p) to 215p as the shunning of less profitable sales and focus on selling higher-margin products drove a material improvement in first half gross margins. In today’s trading update for the half year to 30 September, York-based Gear4music also sounded upbeat ahead of the pivotal Christmas period and confidence ...

UK stocks opened weaker today as the market awaits another key vote in parliament tonight. The FTSE 100 was down 15 points at 7,151 while the FTSE 250 was down 38 points at 20,270. Durex to Dettol maker Reckitt Benckiser (RB.) cut its full-year guidance for the second time this year sticking the blame on cautious retail purchasing ahead of the flu season in the US for its Mucinex product ...

Food delivery group Just Eat (JE.) reported 25% revenue growth in the three months ended 30 September as management reiterated full-year revenue guidance of £1bn to £1.1bn. The growth rate implies a slowdown compared with the first half and the shares traded down 4.3% to 598p in response. Interim chief executive Peter Duffy said the company was ‘seeing strong growth in many of our ...

UK stocks started the week on the front foot with the FTSE 100 index adding 22 points or 0.3% to 7,172. Biggest contributors to the rise in terms of index points were the banks with Royal Bank of Scotland (RBS) adding 2.6% to 245p, Barclays (BARC) adding 1.3% to 167p and Lloyds (LLOY) adding 1.6% to 61.2p. Shares in drug-maker AstraZeneca (AZN) dipped 0.4% to £67.43 despite news that its ...