Edition:
United Kingdom

Shanima A

Petra's diamonds lose lustre as coronavirus hits demand

17 Feb 2020

Africa-focussed miner Petra Diamonds said the coronovirus outbreak had hit Chinese demand for diamonds, forcing it to push back targets for cashflow and debt reduction, sending its shares more than 20% lower.

Anglo American output held back by Chile drought, diamond weakness

23 Jan 2020

Anglo American said on Thursday that water shortages at its Los Bronces mine in Chile had weighed on the global miner's copper output in the fourth quarter, while rough diamond production was hurt by a softer global market.

Packaging firm Mondi's top boss to leave as industry battles costs

10 Jan 2020

Paper and packaging firm Mondi Plc's chief executive officer Peter Oswald is stepping down after nearly three years in the role overseeing the company's shift to producing more cardboard packaging whilst battling rising industry costs.

UPDATE 2-Packaging firm Mondi's top boss to leave as industry battles costs

10 Jan 2020

Jan 10 Paper and packaging firm Mondi Plc's chief executive officer Peter Oswald is stepping down after nearly three years in the role overseeing the company's shift to producing more cardboard packaging whilst battling rising industry costs.

3i Infrastructure sells $250 million in British assets, eyes European sale

06 Dec 2019

Investment firm 3i Infrastructure said on Friday it would sell its projects portfolio in Britain to a range of buyers, including funds managed by Dalmore, Semperian and Innisfree for about 194 million pounds ($248.90 million).

Stock Spirits tells Polish, Czech vodka drinkers to expect price hike

04 Dec 2019

Polish and Czech drinkers will face bigger bills for vodka with Stock Spirits planning to hike prices because of proposed increases in excise duties in its two biggest markets.

Premier Oil shares lifted by progress on production and debt

14 Nov 2019

Premier Oil said on Thursday production would come in at the top end of its forecast range this year, driven by its flagship North Sea Catcher field, and that it would cut debt by more than the $300 million (£234.45 million) previously promised.

SE Asia Stocks-Most rise on trade deal hopes; S'pore logs first quarterly gain in four

29 Mar 2019

* Thai Feb exports fall 1.7 pct * S'pore cbank likely to end tightening run - poll * Philippine shares post third straight qtrly gains By Shanima A March 29 Most Southeast Asian stock markets edged higher on Friday, in line with broader Asia, on hopes of progress in trade talks between the world's two largest economies, while Singapore index logged its best quarter since December 2017. Optimism revolved around progress in the U.S.-China trade talks, with reports saying Beijing's proposals on a range of issues went further than before, including those on forced technology transfer. White House economic adviser Larry Kudlow said the United States may drop some tariffs if a deal is reached while keeping others in place to ensure Beijing's compliance. The development lifted the index of broader Asian shares outside Japan by 0.75 percent. Singapore shares added 0.3 percent to touch highest in more than a week. The index snapped its three straight quarterly declines and gained 4.7 percent in the last three months. A Reuters poll forecast Singapore's central bank keeping its monetary policy stance on hold in the first of its semi-annual meetings next month, after two tightening moves last year. Philippines stocks added 0.6 percent, though on the week they declined 1.2 percent. The benchmark also clocked its third straight quarterly gain, rising 6.9 percent. Thai shares ended 0.3 percent higher on the day and 4.8 percent during the quarter. Thailand's annual headline inflation rate in March is expected to have picked up from the previous month, but may stay below the central bank's target range for a fifth straight month. Exports in February dropped 1.7 percent year-on-year, after declining 4.7 percent in January. Indonesian shares fell 0.2 percent, hurt by declines in consumer staples stocks. Animal feeds maker Charoen Pokphand Indonesia lost 10.5 percent. Indonesia's central bank deputy governor, Dody Budi Waluyo, said the apex bank will maintain a tight monetary stance as it focuses on the stability. Bank Indonesia hiked its benchmark rate six times last year, by a total of 175 basis points. Vietnam shares erased gains earlier in the day and ended 0.23 percent lower after data showed the country's economy grew at a slower pace in the first quarter as weakening global demand for smartphones weighed on exports. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3212.88 3203.58 0.29 Bangkok 1638.65 1634.25 0.27 Manila 7920.93 7876.4 0.57 Jakarta 6468.755 6480.788 -0.19 Kuala Lumpur 1643.63 1641.33 0.14 Ho Chi Minh 980.76 982.98 -0.23 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3212.88 3068.76 4.70 Bangkok 1638.65 1563.88 4.78 Manila 7920.93 7,466.02 6.09 Jakarta 6468.755 6,194.50 4.43 Kuala Lumpur 1643.63 1690.58 -2.78 Ho Chi Minh 980.76 892.54 9.88 (Reporting by Shanima A in Bengaluru; Editing by Gopakumar Warrier)

SE Asia Stocks-Most rise on trade talk progress; Thailand leads pack

29 Mar 2019

* Singapore on track to post first quarterly gain in four * Philippines, Indonesia set to post third straight qtrly gain * Thailand trade data due later in the day * Asia stocks ex-Japan up 0.5 pct By Shanima A March 29 Most Southeast Asian stock markets rose on Friday, with Thailand leading the pack, boosted by optimism around progress in U.S.-China trade talks, while Singapore index was on track for its first quarterly gain in four. Sentiment was lifted after a report that in an unprecedented move, China has made proposals in talks with the U.S. on a range of issues, including on forced technology transfer. The issue around technological transfer has proved a tough one for negotiators between the world's largest economies, as U.S. officials say China has previously refused to acknowledge the problem exists to the extent alleged by the United States, making discussing a resolution difficult. "While the feel-good factor from China may see stock markets in the green...., short-term sentiment will be highly vulnerable to headlines coming out of the talks, which could cause aggressive short-term volatility, bullish or bearish," said Jeffrey Halley, senior market analyst - Asia Pacific at OANDA, in a note. MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.5 percent. Thailand shares hit their highest in one-week, rising 0.6 percent - the highest in the region. Trade data for the country in February is due later in the day. Singapore index rose 0.5 percent, with shares of DBS Group Holdings Ltd gaining 0.7 percent. The index was also heading for a quarterly gain of about 5 percent. The real estate investment trusts (REITs) have been real outperformers in the Singapore market during the quarter on expectations of lower interest rates going forward, said Joel Ng, an analyst at KGI Securities. The Monetary Authority of Singapore will hold its next monetary policy decision meeting in April. Malaysian shares gained 0.5 percent, after two straight sessions of declines. Instant food products maker Nestle (Malaysia) Bhd rose as much as 1.6 percent. The Philippine benchmark rose 0.3 percent and was on its course for the third straight quarter of gain. However on a weekly basis, it was set to post its first decline in four weeks. Meanwhile, Indonesian stocks fell 0.5 percent, hurt by declines in consumer staples sectors. Animal feeds maker Charoen Pokphand Indonesia Tbk PT was among the top decliners on the index falling more than 8 percent. The benchmark was on track to post its third consecutive quarterly gain. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AT 0401 GMT Market Current Previous close Pct Move Singapore 3220.5 3203.58 0.53 Bangkok 1643.85 1634.25 0.59 Manila 7899.36 7876.4 0.29 Jakarta 6445.856 6480.788 -0.54 Kuala Lumpur 1649.35 1641.33 0.49 Ho Chi Minh 986.92 982.98 0.40 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3220.5 3068.76 4.94 Bangkok 1643.85 1563.88 5.11 Manila 7899.36 7,466.02 5.80 Jakarta 6445.856 6,194.50 4.06 Kuala Lumpur 1649.35 1690.58 -2.44 Ho Chi Minh 986.92 892.54 10.57 (Reporting by Shanima A in Bengaluru; Editing by Rashmi Aich)

SE Asia Stocks-Most end firmer ahead of Sino-U.S. trade talks

28 Mar 2019

* Vietnam March CPI likely down 0.21 pct m/m - govt data * Thailand's pro-army party wins popular vote By Shanima A March 28 Most Southeast Asian stock markets closed higher on Thursday as report that Washington and Beijing were making headway on their talks on trade helped bolster sentiment, after recent sessions of steep sell-offs over global growth worries. Investors awaited the outcome of the next round of talks due later in the day, on the backdrop of a Reuters report that both economies have made progress in all areas under discussion in trade talks, but sticking points still remain. Separately, China's Premier Li Keqiang said he does not think there is any trust deficit between Beijing and Washington, and the country will sharply expand market access especially in its financial services sector. "Near-term direction of the market is very much dependent on a trade resolution between the U.S. and China. Trade resolution will boost confidence that global growth has troughed," said, Paul Chew Kuan Leng, Head Of Research, Phillip Securities Research. Leading the gains in the regional markets, Vietnam shares ended 0.7 percent firmer, boosted by strength in the real estate sector, with Vinhomes JSC adding 3.3 percent. Government data showed that the country's Consumer Price Index (CPI) is likely 0.21 percent lower in March, compared with the previous month. Singapore shares ended 0.2 percent firmer. Casino operator Genting Singapore Ltd closed 1 percent higher, while conglomerate Jardine Strategic Holdings Ltd edged 0.4 percent higher. Thai shares closed 0.3 percent higher, after the Election Commission said the pro-army party won the popular vote in general election. The pro-army Palang Pracharat Party gained 8.4 million ballots, while the main opposition Pheu Thai Party got 7.9 million vote, the election commission said. Shares of Airports of Thailand PCL were among the top gainers on the index, while telecom provider Advanced Info Service PCL closed 1.1 percent firmer. Meanwhile, a senior Thai central bank official said the country's monetary policy committee did not "close the door" on raising interest rates this year. The Malaysian benchmark index was the only outlier, ending 0.1 percent lower. The index extended declines to close at its lowest in more than three months after the Malaysian central bank projected a gloomy growth outlook for this year. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Previous Close Pct Move Singapore 3203.58 3198.39 0.16 Bangkok 1634.25 1629.4 0.30 Manila 7876.4 7861.05 0.20 Jakarta 6480.788 6444.738 0.56 Kuala Lumpur 1641.33 1642.73 -0.09 Ho Chi Minh 982.98 975.91 0.72 Change on year Market Current End 2017 Pct Move Singapore 3203.58 3068.76 4.39 Bangkok 1634.25 1563.88 4.50 Manila 7876.4 8558.42 -7.97 Jakarta 6480.788 6194.498 4.62 Kuala Lumpur 1641.33 1690.58 -2.91 Ho Chi Minh 982.98 984.24 -0.13 ($1 = 0.8885 euros) (Reporting by Shanima A in Bengaluru, Editing by Sherry Jacob-Phillips)

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