Market Report: The Footsie had the weight of the world on its shoulders
Tuesday 25 March 2014
The Russian oligarch Alexei Khotin has ended up with more control of the oil exploration firm Exillon Energy. The chairman, chief executive and three independent directors all quit on Friday after boss Mark Martin told the board “he was no longer able to exercise practical control over the company… without the support of the newly appointed directors who are nominees of the RusOil Group”.
Mr Khotin, the billionaire owner of RusOil, installed two directors on the board at the end of January, after building a 29.9 per cent stake in the firm last year.
Exillon yesterday confirmed RusOil’s deputy chief executive Pavel Chernienkoas as an executive director, cementing Mr Khotin’s control. Exillon drilled down 6.75p to 111p.
The Footsie had the weight of the world on its shoulders yesterday as fears over Chinese growth and tensions in Russia continued to depress the index, which closed down 36.78 points at 6,520.39.
Investors were also spooked by fears that the Big Six energy providers could be broken up, after reports that Ofgem is set to report them to the competition watchdog. British Gas-owner Centrica fell 6.4p to 331.5p, while SSE dropped 35p to 1,475p.
Al Noor Hospitals continued to soar yesterday, amid talk that good deals are on the way; the Dubai healthcare group leapt up 84p to 1,069p.
Gold producers were hit yesterday as the price fell. Rangold Resources sank 204p to 4,627p, and Fresnillo lost 33p to 852p. The exception was Centamin, up 5.2p at 57.7p, which beat production targets with its full-year numbers.
Cambridge-based disease modelling company Horizon Discovery has raised more than double what it hoped for from its initial public offering, according to Panmure Gordon. Horizon, which starts trading on Aim on Thursday, has secured £68.6m.
The oil and gas engineer Kentz was up 21.5p to 754.5p, and is set to beat forecasts for the year ahead.
The technical products maker Diploma was down 58.5p to 701.5p, after warning that exchange rates would keep its first half profits flat.
- 1 Keira Knightley topless: Usually conservative actress does own take on #Freethenipple campaign for Interview Magazine
- 2 Joan Rivers: 'Palestinians deserve to be dead'
- 3 Lady al-Qa’ida: On the trail of Dr Aafia Siddiqui, the world’s most wanted prisoner
- 4 A teacher speaks out: 'I'm effectively being forced out of a career that I wanted to love'
- 5 It's not just the savagery of Isis that is shocking – its weaponry is too
YouTube video posted by Isis militants shows 'execution of 250 Syrian soldiers'
Keira Knightley topless: Usually conservative actress does own take on #Freethenipple campaign for Interview Magazine
Joan Rivers: 'Palestinians deserve to be dead'
Sir Paul McCartney makes his stance on Scottish independence known
PM sets out tough new anti-terror measures in response to heightened threat
Robin Williams Emmys tribute led by Billy Crystal criticised for including 'racist' joke about Muslim woman
The Rotherham child abuse scandal is a tale of apologists, misogyny and double standards
What do immigrants really think of Britain? Polish immigrant's Reddit post goes viral
Scottish independence TV debate: Pumped-up Alex Salmond bounces back in bruising second round against Alistair Darling
Do you realise just how foolish the UK looks?
With Douglas Carswell joining Ukip, my party has taken another giant step forward
- < Previous
- Next >
iJobs Money & Business
Highly Attractive Salary: Austen Lloyd: BRISTOL - This is a very unusual law c...
£35000 per annum: Harrington Starr: Network Engineer (CCNP, CCNA, Linux, OSPF,...
£50000 per annum: Harrington Starr: DevOps Engineer (Systems Administration, L...
£60000 - £70000 per annum: Harrington Starr: A prestigious leading professiona...