Leading UK shares are advancing firmly following gains across Asian markets overnight after the Chinese premier reportedly said that policy makers will not tolerate growth below 7%, alleviating concerns about a possible hard landing of the world?s second largest economy.
This calmed fears that the staggering growth rates from the world?s second largest economy are a thing of the past, helping the Footsie rise 20 points or 0.3% to 6,643.
Milestone Group () was the morning?s star riser after the company announced that it plans to launch a curriculum-based education programme for children in the UK in early 2014.
It follows a successful pilot of ?Winning in the Game of Life? ? conceived by US-based Spirituality for Kids International in America ? in schools across the UK, including in London, Birmingham and Kent.
In earnings news, () leapt forward after it revealed that its video editing platform continues to grow as the company reported a 15% jump in revenues and a 23% rise in gross profit in its latest half-year.
Forbidden develops and markets the cloud-based platform FORscene, used by broadcasters in professional web video, in education and by consumers.
The recent placing and open offer brought in ?8.9 million, strengthening the balance sheet and allowing the firm to accelerate its plans.
() hardly moved despite telling the market it generated a record amount of cash and saw good growth from its new cloud?based healthcare software.
Income in the year to May rose by 1% to ?37.1mln (2012: ?36.6mln) reflecting a 13% rise in UK Healthcare recurring revenues. Bookings in UK Healthcare also exceeded revenue by ?5.5mln.?
The grouped increased its dividend for the year by 10% to 1.32p (2012:1.2p).
In the mining sector, () rose following news that a soil sampling programme has unveiled new lead, zinc and copper anomalies at its Changara project in Mozambique.
Over 1,500 soil samples were collected at Changara, which is a joint venture with ASX-listed Metals of Africa, and Rio Mazoe, the neighbouring project owned by the partner.
Baobab struck a deal with Metals of Africa in November last year so it could focus on its Tete pig iron project.
According to Metals of Africa, which is carrying out the sampling, a number of indicator elements show distinct patterns.
17 soil sampling targets have been identified at Changara, while fluorite occurrence was mapped within the project.
Elsewhere, () was upbeat after informing the market that drilling has begun on ZJS7, the third of its eight well programme in China?s Ordos gas basin.
Torrential rain, which killed four people and affected 840,000 others, had delayed the mobilisation of the rig for over two weeks, but the extreme weather is not expected to have any further significant impact on drilling operations.
Drilling is expected to take four to five weeks.
Meanwhile, () revealed the drilling operation on the Kutvolgy-1 well has been successfully completed.
The well was drilled to a depth of 3,305 metres and the targeted Algyo formation was encountered from 2,985 metres as expected.
It then encountered a sequence of sandstones, siltstones and shales over a total of 320 metres with gas shows throughout. Two cores have been taken and wireline logging has been carried out.
The well has now been cased ahead of a testing programme.
() on the other hand provided very disappointing news on its French Guiana project.
The company, one of the three major partners in the Shell-led exploration venture off the coast of South America, revealed that Cebus, the third of four planned wells, has failed to find any hydrocarbons.
Following the initial success of the Zaedyus oil discovery in Guyane Maritime the area had been hailed as one of the world?s top new oil frontiers.
But no further discoveries have yet been made and the rig will now move to the last well in the programme.
Shares slumped 7% on the news.
() was also hit as it revealed it has run into problems in renewing its permits in France.
The paperwork for the permit renewals, Bearn des Gaves and Tarbes Val d'Adour, have not been completed within the necessary timeframe and consequently the licences are deemed to have lapsed.
It now intends to appeal this outcome. If the appeal is not successful Europa expects to write off ?1.2mln of exploration costs related to the assets.
Shares shed 25% following the setback.
Good Friday 2013 good friday Dufnering What Is Good Friday Monsanto Protection Act Jenna Wolfe Jarome Iginla
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.