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FTSE 100 lower with Scottish Mortgage trust leading the retreat; Wall Street mixed as Dow crosses 35K Tech shares appear to be out of fashion this week, as the US Nasdaq gave up more than 1%
The FTSE 100 down 6 points
Tech stocks out of favour
Centricafriendless after downbeat trading update
12.05pm: Major diversion among US indices as midday
The FTSE 100 ended down 6 points at 7,124, while the FTSE 250 lost 78 points, 0.3%, to close at 22,697. Sterling traders seem unperturbed by the prospect of the UK economy moving into another period of political uncertainty, as the elections put the SNP’s independence plan back on the agenda, IG Chief Market Analyst Chris Beauchamp wrote. An attritional battle through the courts to decide on the legality of a referendum seems likely, taking some of the shine off the prospects for the UK economy. Nonetheless, with the dollar now finding it harder to rally in the wake of the non-farms report it looks like sterling c
Follow John on:
FTSE 100 lower with Scottish Mortgage trust leading the retreat; Wall Street mixed as Dow crosses 35K Tech shares appear to be out of fashion this week, as the US Nasdaq gave up more than 1%
The FTSE 100 down 6 points
Tech stocks out of favour
Centricafriendless after downbeat trading update
12.05pm: Major diversion among US indices as midday
The FTSE 100 ended down 6 points at 7,124, while the FTSE 250 lost 78 points, 0.3%, to close at 22,697. Sterling traders seem unperturbed by the prospect of the UK economy moving into another period of political uncertainty, as the elections put the SNP’s independence plan back on the agenda, IG Chief Market Analyst Chris Beauchamp wrote. An attritional battle through the courts to decide on the legality of a referendum seems likely, taking some of the shine off the prospects for the UK economy. Nonetheless, with the dollar now finding it harder to rally in the wake of the non-farms report it looks like sterling c
IN BRIEF: European Metals Holdings adopts ESG framework
Mon, 10th May 2021 18:09
European Metals Holdings Ltd - mineral exploration and development company focused on Cinovec lithium-tin project in Czech Republic - Says it has adopted a set of Environmental, Social & Governance metrics and disclosures following the recommendations released by the World Economic Forum in Geneva, Switzerland. Establishes ESG Committee at board level, to be chaired by Lincoln Bloomfield who it says has considerable private sector experience centred on sustainability, resilience and renewable energy. Also ESG initiates reporting, monitoring and improvement for European Metals utilising Socialsuite.
Says acceleration has been driven by heightened social, governmental, and consumer attention on the broader impact of corporations, as well as by the investors and executives who believe strong ESG proposition is a key indicator of a company s long-term success.
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A look at some of the major movers in London on Monday
Amino Technologies PLC (LON:AMO) fell 5.9% to 151.5p after it revealed it has submitted a bid to acquire the trade and assets of MobiTV.
The media technology company said that if it is successful in its bid for MobiTV – a US live and on-demand TV platform provider – would establish a TV as a service (TvaaS) infrastructure capability in the USA for Amino.
As well as the purchase cost, the acquisition would require “significant investment” over a 6-12 month period to develop organically.
1.35pm: Superdry co-founder s stake dips below 7%
Proactive weekly mining round-up: Rio Tinto, Bacanora Lithium, Caerus Mineral Resources.
A run-through of some of the week s mining stories
Jacques left the FTSE 100 mining giant after it blasted the 46,000-year-old Juukan Gorge heritage areas in Australia to access iron ore. On Thursday’s AGM, over 60% of shareholders voted against two resolutions on the firm’s remuneration report, but as it only an advisory measure the company decided to ignore the vote and carry on.
Bacanora Lithium PLC’s (LON:BCN) partner and major shareholder Ganfeng has made an offer to buy out the mining group. The Chinese giant says it will offer 67.5p per share, a 45% premium to the close yesterday and valuing AIM-listed Bacanora at £259mln, including shares to be issued through a recent placing. Ganfeng already has a 29% stake in Bacanora and also a 50% stake in Sonora, the junior miner’s lithium deposit in Mexico.