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Latest Proactive Investors News
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Fresnillo, Lonmin, Hochschild and Aquarius rise as silver and platinum rally - Even better than expected US jobs figures released by the Labor Department on Friday failed to weaken gold, which remained close to US$1,250/oz and just US$20 away from the all time high of US$1,266/oz.
Investors have been pouring money into safe haven assets all week due to concerns about the pace of the economic recovery, fuelled by recent jobs and manufacturing data released in the US. This week’s jobless claims update failed to inspire optimism in the markets, showing a smaller than expected decline of 6,000 in initial unemployment benefit claims, which now currently stand at 472,000.
Friday’s non-farm payrolls figures were much better, revealing a decline of 54,000 in August, while analysts expected to see more than 100,000 jobs lost during the month. >>>
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BP, Shell, BG Group, Amec and Petrofac rise during week, brent steady at $76 - Oil prices were roughly at the same level as at the start of the week despite a rally in global stock markets, which saw the FTSE 100 advance 4.3% over the past four trading days, while the Dow Jones Industrial Average in the US surged 2.9%.
The markets wee boosted by better than expected US non-farm payrolls data, which was released by the Labor Department on Friday, showing a smaller than expected decrease of 54,000 in payrolls. As was projected, the unemployment rate rose from 9.5% to 9.6%.
Meanwhile, the private sector added 67,000 jobs in August, more than double the expected increase of 30,000.
Prior to that, US initial jobless claims were reported to have fallen 6,000 to 472,000, which was a smaller than expected decline. >>>
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LSE News Wrap: BP, Tullow Oil, 888 Holdings, Xstrata, Green Dragon Gas - Xstrata Zinc, a division of Xstrata Plc (LON:XTA), has ended discussions with Canada`s Noranda Income Fund (TSX:NIF.UN) about a possible acquisition of the fund. The two companies had entered into a non-binding letter of intent about the potential acquisition of the fund by Xstrata, initially at a cash price of C$3.40 per unit.
Oil and gas major Tullow Oil (LON:TLW, PINK:TUWOY) has entered into an agreement to acquire a 50% operating interest in six licences held by oil and gas minnow Africa Oil (TSX-V:AOI).
Embattled oil and gas supermajor BP (LON:BP) said the Gulf of Mexico clean-up costs increased US$2 billion over the past month, now rising to a total US$8 billion.
China’s thirst for energy resources has continued with an increased focus on domestic supplies of gas, Green Dragon Gas chairman Randeep Grewal said today. >>>
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Small Cap News: Synchronica, Stanley Gibbons, Fusion IP, Planet Payment, Advanced Computer Software - Small caps performed strongly this week with the FTSE AIM 100 and FTSE AIM All-Share indexes surging 3.3%.
Synchronica (LON:SYNC) believes that the proposed iseemedia (TSX-V:IEE) acquisition will position the company as a market leader for next-generation mobile messaging.
Retailer of stamps and other collectibles Stanley Gibbons (LON:SGI) has bought the business and certain assets of specialist stamp dealer Nigel Haworth, formerly M & N Haworth, for £0.3 million.
University IP commercialisation company Fusion IP (LON:FIP) has said that its Sheffield-based biotechnology company Absynth Biologics has signed a licensing and collaboration agreement with MorphoSys AG.
Researchers will now have free online access to AIM listed Cyprotex PLC's (LON:CRX) database of the ADME and pharmacokinetic properties of marketed drugs, the company announced today. >>>
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