Further weakness in the pound fails to dampen UK domestic stocks with the FTSE 250 index holding ground at 18,005. The FTSE 100 also treads water, nudging ahead a mere three points to 7,048.
William Hill (WMH) is considering an all-share merger with Canadian gambling group Amaya, best known for its Full Tilt and Pokerstars websites. William Hill has been struggling on the digital side while Amaya has had to battle a reputational issue after its former CEO was accused of insider trading. The news sends William Hill shares up 5% to 309.33p.
A month after issuing a severe profit warning, Mitie (MTO) says its chief executive Ruby McGregor-Smith is to leave the business at the end of 2016 after nine years at the top. She will be replaced by Phil Bentley, the former boss of Cable & Wireless Communications. Its shares rise 1.3% to 196.7p
Chrome and platinum producer Tharisa (THS) has reported record fourth quarter production figures with higher than expected platinum group metals output. Chrome prices increased by approximately 50% in the three month period, giving a major boost to Tharisa’s earnings. The miner is up 35% to 105p since we highlighted its attractions as an investment in the 29 September 2016 issue of Shares.
There is a shake-up at Metal Tiger (MTR:AIM) with chief executive Paul Johnson being demoted to consultant for its asset trading arm and helping with public relations work. Non-executive director Alex Borrelli becomes the chief executive, despite already being the CEO and chairman of another AIM-quoted miner, BMR Group (BMR:AIM).