Royal Mail PLC (LSE:RMG) said the prices of first- and second-class stamps are to go up, just weeks after telling customers it was going to move towards a barcode service instead.
First-class stamps will go up by 10p to 95p, while second class stamps will increase by 2p to 68p.
Greatland Gold PLC (AIM:GGP, OTC:GRLGF) shares could nearly double in price, according to a target set by stockbroker Canaccord Genuity (TSX:CF, LSE:CF), which has reacted to Thursday’s upgrade to resources at the Havieron project in Australia.
Repeating a ‘speculative buy’ recommendation and a 25p price target (current price 14p), in a note, Canaccord set the scene for further gold upgrades in the future.
Wheat prices hit a 14-year high as fears of a supply crunch increased.
Wheat futures were up 40% in contracts traded in Chicago last week, increasing food prices that have already been dealt a blow by seven-year high oil prices that push up transport costs.
The supply of houses on sale in the UK increased in January but still has some way to go to catch up to demand, according to data released today.
House listings were up 5% in January compared to the five-year average, according to Zoopla's house price index report, which it said signalled the start of a potential recovery in activity after many in the industry said there had been a lack of supply in recent months.
ITV PLC (LSE:ITV) has been downgraded by Barclays Capital, which believes the free-to-air-broadcaster made a mistake in the way it invested into its new on-demand services.
According to the investment bank, the maker of Vera and Ant & Dec’s Saturday Night Takeaway should have put the £205mln investment into ITVX in one go rather than in three separate tranches.
Deutsche Bank AG (ASX:DBA) shares tumbled this morning as it began conducting stress tests with an eye to disrupted operations in its big technology centre in Russia.
Last night, the Financial Times reported that the bank was carrying out a review of its Russian IT centre, which develops and maintains its global operations.
The London Stock Exchange has suspended trading in the eight remaining “Russian stocks” after an initial halting on the trading of companies with links to the Russian state yesterday.
Yesterday the LSE said it was suspending trading “in light of market conditions, and in order to maintain orderly markets”.
Grab Holdings Ltd's (NADSAQ:GRAB) shares crashed more than 37% after reporting a wider than expected fourth-quarter loss and sales slump.
Shares of the Singapore-based ride-sharing and food delivery company extended losses in premarket trading Friday.
Sony Group Corp (NYSE:SONY) and Honda Motor (NYSE:HMC) announced that the two companies would be entering a joint venture to develop and sell electric vehicles (EVs).
The companies said in a statement that negotiations will continue towards executing binding agreements, with the goal of establishing a new company, Sony Mobility, within the year.
Nike Inc (NYSE:NKE) said it’s temporarily shutting all of its Russian stores, following its decision to stop purchases on its website and app in Russia earlier in the week.
This will include all Nike-owned and operated stores, it said.
Caracal Gold PLC (LSE:GCAT) announced the appointment of Franck Bizouerne who joins the company as group mineral resource manager, effective from 1 April.
Bizouerne is described as a an expert in greenfield exploration, in particular gold but also lithium and base metals across the African continent. The company said the appointment brings a huge wealth of experience.
The ongoing Russian invasion of Ukraine and ensuing economic fallout will increase the likelihood of growth dampening supply bottlenecks in Europe, according to UBS.
The broker said that while European logistics and shipping companies had limited revenue exposure to Russia and Ukraine, increase supply chain shortages and higher inflationary pressures would weigh on its economy.
Avation PLC (LSE:AVAP) told investors that it is set to have only three un-utilised aircraft following its efforts to reorganise its fleet in the wake of the COVID-19 pandemic.
The company, in a stock market statement, said it had entered into a number of agreements which remain subject to definitive documentation and typical closing mechanics, but would see four aircraft off the un-utilised list.
Rivian Automotive Inc (NASDAQ:RIVN) shares continued to struggle in the wake of the company’s faux pas that saw it implement then quickly withdraw a price increase on pre-ordered cars.
The EV automaker increases the prices of its R1T pickup and R1S SUV models by $12,000 after they had already been pre-ordered by customers, leading to an outcry.
The Ukrainian government announced it will issue non-fungible tokens (NFTs) to fund its armed forces.
Vice-prime minister Mykhailo Fedorov confirmed in a tweet on Thursday that the government would soon be using NFTs to help pay for its military.
Non-fungible token (NFT) marketplace OpenSea barred Iranians from its platform, adding to concerns surrounding decentralisation in digital assets.
The US NFT platform followed US sanctions, it said, which states American companies can’t provide countries on the sanction list with goods or services.
Lloyd’s of London risks being heavily impacted by proposed rules that would shut Russian aviation companies out of the UK insurance market.
New legislation proposed by the Treasury is intended to stop UK-based insurance and re-insurance firms from offering contracts to Russian-linked firms.
Mitie Group PLC (LSE:MTO) shares plunged after the UK competition watchdog said it was investigating the outsourcing group's bids for services at immigration centres in Heathrow and Derwentside.
The Competition and Markets Authority said on Friday that it launched an investigation into Mitie earlier this week for "breaches of competition law in relation to an ongoing process run by the UK government to procure services" at the two 'Immigration Removal Centres'.
Gore Street Energy Storage Fund PLC (LSE:GSF) told investors it has successfully completed the acquisition of a 90% stake in a 28 MWh operational energy storage asset based in Cremzow, Germany.
The company, in a statement, highlighted that the acquisition of an asset in mainland Europe signifies an exciting opportunity. It said the asset diversifies its exposure to new revenue streams across the inter-connected European grid network.
With its reorganisation process paying off and margins at their highest level in decades, Morgan Advanced Materials plc (LSE:MGAM) said it had turned a profit in its full year.
From a loss of £13.1mln the year before, the group posted a profit of £104.3mln in the year to December 31, 2021.
The UK’s growth is expected to halve this year as Russia’s invasion of Ukraine adds to mounting cost pressures and dampened global confidence, according to a key British business group.
The British Chamber of Commerce forecasts UK GDP of 3.6% in 2022, down from its December outlook of 4.2% and less than half the 7.5% growth realised last year as the UK bounced back from Covid.
88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) told investors it is anticipating an independent third-party review of Project Icewine’s resource potential, informed by the nearby successes of Pantheon Resources PLC (AIM:PANR, OTC:PTHRF).
Pantheon has made a series of discoveries in an adjacent block with the Alkaid well, in 2019, and more recently the Talitha and Theta West wells which are undergoing testing in the current winter field season.
Russian cryptocurrency trading volume sank 50%, debunking suggestions of an upturn in digital asset buying to evade sanctions issued by much of the West.
Rouble-dominated crypto trading was US$34.1mln on Thursday, compared with US$70.7mln on 24 February, according to Chainalysis.
Hammerson PLC (LSE:HMSO) shares rose in opening deals as it quartered its losses last year, with the group’s boss saying it had made “fundamental changes” to its business.
Losses of £429m for the REIT were down more than 75% on 2020 losses of £1.7bn, with adjusted earnings more than doubling to £81mln.
Bitcoin and Ethereum both retreated, losing some of the gains made earlier in the week as bodies such as the UK's Treasury and the UK's Financial Conduct Authority call on crypto companies to be tougher in implementing their sanctions.
Bitcoin fell 4.91%, down to US$41,330 while Ethereum fell 6.30% to US$2,723.
Pantheon Resources PLC (AIM:PANR, OTC:PTHRF) is now ready to begin testing the Theta West after progress on Alaska’s North Slope slowed due to weather challenges.
The company, in a statement, meanwhile gave upbeat but incomplete results from the previously drilled Talitha well – which saw its latest test suspended in a blizzard and subsequently found results hampered due to a blockage in the well.
Supply@ME Capital PLC (LSE:SYME) said it searching for a new chair after current non-executive chairman James Coyle tendered his resignation for personal reasons.
The fintech company said it has also appointed an independent adviser to complete a strategic review of the company as it prepares for the next phase of growth.
Oncimmune Holdings PLC (AIM:ONC) said its ImmunoINSIGHTS operation has inked another deal – this time with an unnamed top ten pharmaceutical company.
The work undertaken will initially focus on autoantibody profiling of chronic inflammatory demyelinating polyradiculoneuropathy.
Accsys Technologies (AIM:AXS) PLC has issued a profit warning that took the sheen off the news that it has made a final investment decision to construct and operate a new production facility in the USA.
The wood-hardening company warned full-year underlying profits would be at the lower end of market expectations as sales volumes had dropped 2% over the past 10 months due to production issues and this would not be recovered by the end of its financial year.
Piedmont Lithium Inc (ASX:PLL, NASDAQ:PLL, XETRA:)’s partner, Sayona Mining Ltd (ASX:SYA), has completed a mineral resource update for two lithium projects in Quebec, Canada, doubling the original resource estimates for a total of 119.1 million tonnes at 1.05% lithium oxide.
Piedmont holds a 25% project interest in the North American Lithium and Authier Projects in Quebec through an equity stake in Sayona Quebec and an equity interest of 17% in Sayona Mining.
European authorities have begun seizing the luxury yachts of Russian oligarchs in a crackdown on Putin-linked billionaires as sanctions on the country intensify.
German authorities have seized a $US600mln superyacht reportedly belonging to Russian oligarch Alisher Usmanov, while France has impounded the vessel owned by Rosneft (LON:ROSN) boss Igor Sechin.
Broker Citi has upgraded its price target on BAE Systems PLC (LSE:BA.) as defence falls back under the spotlight.
The reiterated buy note comes as Germany pledges to increase defence spending to 2% of GDP in a wider reassessment of European policy following Russia’s invasion of Ukraine.
Russia’s continued invasion of Ukraine will cause further disruptions to the automotive industry’s supply chain, as well as impacting food supplies, Capital Economics said.
“Aside from the most energy-intensive sectors, vehicle production seems most exposed,” the economic researcher added.
French oil major TotalEnergies is more strategically exposed to Russia “than most others”, according to analysts in Barclays investment banking arm.
The bank’s analysts meanwhile highlighted that high oil prices, at US$110 per barrel and above, will still mean that group cash returns will rise.
European authorities have begun seizing the yachts of Russian oligarchs in a crackdown on Putin-linked billionaires as sanctions on the country intensify.
Eden Research PLC (AIM:EDEN, OTCQB:EDNSF) now has four potential growth drivers after considerably expanding its end market opportunity portfolio during the pandemic and so, says broker Cenkos, its shares are worth buying.
Cenkos, which is house broker to the company, reinstated its ‘buy’ rating as it introduced forecasts for the 2022 and 2023 financial years.
Lloyds Banking Group PLC (LSE:LLOY) and NatWest PLC remain Credit Suisse’s top picks in the UK banks sector, with the geopolitical risks from Ukraine underlying their defensive appeal.
The key risks that the Swiss broker sees to the sector are lower Bank of England rate hikes than expected, a larger spillover effect from geopolitical risks such as Ukraine than currently assumed and more competitive pressure than we anticipate in key product markets.
Chelsea’s Russian billionaire owner Roman Abramovich said he will sell the football club for approximately £3bn following increased pressure from the UK government to sanction oligarchs following Russia’s invasion of Ukraine (read more).
The American bank the Raine Group was appointed to handle the sale, while several reports state prospective buyers must make their offers by the end of this week.
Royal Mail PLC (LSE:RMG) has received its second sell note in two days, as Credit Suisse downgraded the postage company to Underperform and downgraded its price target by more than a third.
The broker’s analyst Hannah Burrows said the market was paying for a sustainable 5% EBIT Margin at Royal Mail, but that Credit Suisse considered its normalised margin profile to be 4%, which when coupled with meaty investment requirements, left shares overvalued.
Next Fifteen Communications Group PLC (AIM:NFC) has confirmed the acquisition of Engine UK for an enterprise value of £77.5mln.
Reported to be close a week ago, Engine UK is a broad-based digital transformation, communications and creative business with approximately 600 staff and 300 UK and international clients.
Cryptocurrency companies have been informed they must step up their efforts to enforce sanctions on Russia over concerns that digital tokens are being used to sidestep measures.
CryptoUK, the British industry body, has allegedly written to companies urging them not to become “a loophole for sanctioned Russians,” with the Financial Conduct Authority (FCA) saying it was “actively monitoring” cryptocurrency brokerages.
Taylor Wimpey PLC (LSE:TW.) initiated a share buyback as it reported strong growth in annual revenue and profit as the UK housing market went into overdrive.
Revenue of £4.28bn were generated for 2021, up 53.6% on the prior year, while operating profits more than doubled to £828.6mln from £300.3mln in 2020.
2021 was a year of strong recovery for the energy industry following the many challenges that the world faced in 2020.
One company illustrating this rebound is Gran Tierra Energy Inc (TSX:GTE, LSE:GTE, NYSE-A:GTE, ETR:G1P), which recently reported financial and operating results for 2021 showing a jump in net income.
Analysts have responded well to Entain PLC (LSE:ENT)’s latest full-year results, as the bookmaker continued its expansion and maintained earnings growth.
Underlying earnings (EBITDA) for the gambling, gaming and entertainment group grew 5% over 2020, as visits to its shops recovered to 90% of pre-pandemic levels.
The London Stock Exchange has suspended trading in 27 companies freefalling Russian-linked companies, including Gazprom and Sberbank of Russia (OTC:AKSJF).
Trading in Rosneft (AIM:ROSN), En+ and Lukoil has also been suspended as investors engage in a fire sale of Russian companies.
Rentokil Initial PLC (LSE:RTO) increased its dividend 18.1% to 6.39p after its annual profit rose thanks to strong pest control demand from businesses in North America after pandemic restrictions were loosened, which offset a reduction in hygiene revenues.
The FTSE 100 pest control and hygiene services provider reported £2.9bn of revenue, an increase of 5.9%, while adjusted pretax profit of £416.5mln was up 17.3%.
Cybersecurity group Darktrace PLC (LSE:DARK) raised its revenue forecast for the second time this year as companies and other organisations rush to bolster their defences against hacking attacks.
Russia’s invasion of Ukraine has sparked fears of a new cyber cold war and Darktrace said it was seeing both strong customer growth and client retention as threats mount.
Bidstack Group PLC (AIM:BIDS, OTC:FTBGF) has formed a partnership where its technology will be integrated into the popular mobile game Goodville to allow adverts to be served onto banners and billboards around the game's virtual world.
Developed in collaboration with neurophysiologists and psychiatrists, Goodville is a farm adventure game on Apple and Android devices that blends farm simulation with an emotional wellbeing app designed to improve wellness amongst gamers.
Vesuvius Plc (LSE:VSVS) doubled its pretax profit in 2021, but the results were overshadowed by events this year due to the engineering and technology company’s exposure to Russia and Ukraine.
“While we remain concerned about the potential direct and indirect impacts of recent geopolitical events, which have led us to suspend our deliveries to Russian customers for the duration of hostilities, we are nevertheless confident that the group will deliver a significant improvement in financial performance in 2022," said chief executive Patrick André.
ITV PLC (LSE:ITV) shares took a dive in early trading despite record revenues, above-expectations earnings and cheers from analysts,
It is not immediately clear why ITV became such an unattractive stock after earnings figures were released but what seems to have spooked investors was its big announcement - the launch of streaming service ITVX at the end of 2022 to replace its rudimentary ITVHub.