The morning news update with Shire, Weir, QinetiQ and Mortice

1 mins. to read

FTSE 100

Shire (SHP) – notes the announcement by AbbVie Inc. of its intention to reconsider its recommendation of the offer for Shire.

Weir (WEIR) – has entered into an agreement to acquire Trio Engineered Products, a Chinese-American manufacturer of crushing and separation equipment for the mining and aggregates markets, for an enterprise value of c.$220m2 (£138m).

Fresnillo (FRES) – Quarterly and year to date attributable silver production (including the Silverstream) remained at similar levels to the comparable periods of 2013, mainly due to higher ore volumes processed at Saucito and increased production from the Silverstream, which compensated for the lower ore grade at the Fresnillo mine.

FTSE 250

QinetiQ (QQ.) – Group Chief Executive Leo Quinn has tendered his resignation in order to take up the role of CEO at Balfour Beatty.

Small caps

Orosur Mining (OMI) – reports a net loss after tax of $1.3 million for the quarter to August.

Amara Mining (AMA) – announces further encouraging results from its 2014 drilling programme at its Yaoure Gold Project in Côte d’Ivoire.

Arbuthnot Banking (ARBB) – has traded strongly in the third quarter with both banks seeing good demand for their products. As a result of the £75m institutional placing of Secure Trust Bank shares, which was completed on 9 July 2014, the capital base of the Group increased by more than 80%.

OPG Power Ventures (OPG) – as entered into an agreement with Tamil Nadu Generation and Distribution Company to supply an aggregate of 95 MW from Chennai I and II at Rs 5.50 per kWh until 30 September 2015.

Mortice (MORT) – in the period from 1st April to 30th September has won 150 new contracts across its subsidiaries collectively worth approximately $4.7 million per annum.

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