British online fashion retailer Boohoo (BOO:AIM) reported a doubling in annual profit driven by robust demand in its home market and overseas, particularly in the United States. But shares in the private investor favourite drifted 2.5% to 185p, with investors taking time out to assess in the wake of the stock’s incredible already this year, having rallied around 50% in 2017 so far.
Mining giant BHP Billiton (BLT) on Wednesday trimmed its full-year production guidance for iron ore, coking coal and copper due to bad weather at mines in Australia and industrial action in Chile over the last quarter. The share price nudges higher in spite of the apparent downgrade, rising 11.5p to £12.18.
Chemicals group Croda (CRDA) tops the FTSE 100 leader board on Wednesday after telling investors that the strong end to 2016 has carried through to the first quarter of this year. The company unveils a 4.9% rise in sales for the three months to 31 March 2017, after stripping out the effects of currency exchange rates.
Gold mining minnow Mariana Resources (MARL:AIM) leaps 47% to 87.5p as it agrees a takeover by 7% stakeowner Sandstorm Gold. The £169m cash and shares deal will see Mariana shareholders hold a 19% stake in the enlarged business.
London Stock Exchange (LSE) reported higher quarterly income as its clearing and FTSE Russell businesses grew strongly. The group also said it is exploring investments to drive growth after the collapse of its proposed Deutsche Boerse merger, although investors are left cold, the stock virtually flat at £33.29
Chilean copper producer Antofagasta (ANTO) said on Wednesday that copper production for the first quarter rose 9% on an improved performance at two of its mines and it kept its output target for the year unchanged. That news is taken in stride by the market, the share price flat at 838.5p.
Africa-focused oil company Tullow Oil (TLW) cut its debt in the first quarter by $200m after announcing a surprise rights issue last month. The stock is trading up a fraction at 217.5p in early deals on Wednesday.
Precious metals miner Fresnillo (FRES) said its silver production rose 12.5% in the first quarter due to higher ore grades at its Fresnillo and Cienega mines in Mexico. But commodity price dips elsewhere drag on the share price, the stock declining 20p, or 1.3%, to £14.83.
