Shares News

Diamond producer Petra Diamonds (PDL) has become the latest miner to fall foul of meddling by the Tanzanian government. Its shares crashed 30% at the market open after saying the government had blocked the export of a parcel of diamonds and some of Petra’s employees were being questioned by the authorities. The share price decline had eased back to -7.6% by 8.40am to trade at ...

The FTSE 100 makes healthy gains this morning, up 0.45% to 7,410.96, as North Korean tensions ease a little over the weekend. Shares in insurance companies also recover some ground after Inga Beale, the chief of the Lloyd's of London insurance market, issued reassurance over the impact of Hurricane Irma. Analysts have pointed to insured losses of up to £150bn from the storm which made landfall ...

Traditionally seen as an oil explorer, Faroe Petroleum (FPM:AIM) currently faces a problem; how to develop the discovered barrels currently sat in its portfolio of assets. Faroe has 35m of barrels of oil equivalent (boe) in proved and probable (2P) undeveloped reserves, according to Canaccord Genuity analyst Charlie Sharp. In layman’s terms, this is oil which has anywhere between a 50% and ...

Bad weather has dampened pub retailer Greene King’s (GNK) like-for-like sales, down 1.2% in the 18 weeks to 3 September 2017, compared to a market decline of 0.7%. That causes the share price to crash and analysts to say that earnings forecasts may have to be downgraded by as much as 7% for the next few years. It also has a negative read across to sector peer Marston’s (MARS) whose ...

Windows and doors maker Safestyle UK (SFE:AIM) is at the sharp end of the downturn in big ticket spending, reporting its third profit warning within five months. That sends the shares 29% lower to 167.9p. Analysts are slashing forecasts as the £195m cap warns of flat full year sales and margin pressure ‘leading to a material impact on full year profits'. FEEDING THE BEARS Providing ...

The FTSE 100 opens down by 20 points to 7,377.93 following a mixed bag of trading in the US and Asia. In the US last night the Dow Jones and S&P 500 both closed down whereas Hong Kong’s Hang Seng index today rose 0.5%. The biggest FTSE 100 fallers in early trading on Friday are Marks & Spencer (MKS), down 2.5% to 319.05p; and doorstep lender Provident Financial (PFG) which declines ...

Southern Rail operator Go-Ahead (GOG) has blamed ‘falling rail division profits’ for a 7.4% drop in operating profit to £150.6m in the year to 1 July 2017. Southern, which is partially run by Govia Thames Railway (GTR), is a key concern as passenger journeys fell 3.9%, down from a 2.9% rise in 2016, which dragged on sales by 4.1%. Shares in the firm are down 9.6% at £15.91 on the ...

London’s FTSE 100 trades 3.9 points lower at 7,350.2 early on, investors remaining skittish amid ongoing tensions in the Pacific and the devastation caused by Hurricane Irma. In corporate news, troubled housebuilder Bovis Homes (BVS) improves 5.4% to £11.09 despite first half results showing a 31% drop in profit before tax to £42.7m, impacted by the need to tackle various legacy ...

Housebuilder Barratt Developments (BDEV) has delivered a strong set of numbers, but the market may be disappointed that the company met its 20% full year gross margin target, instead of exceeding it. The disconnect between the numbers and market expectations has punished the stock, which has fallen 4% to 600.5p. In the year to 30 June 2017, gross margins were up 1.1% to 20% under ...

Business jet services company Gama Aviation (GMAA:AIM) enjoys a 3% share price hike to 255p as its reveals a revenue increase of 45% to $291m in the six months to 30 June. A large part of this improvement is thanks to a revenue increase of around 74% in its US air services arm, reflecting the company’s game-changing management merger with part of BBA Aviation and the growth of the Wheels Up ...