(Alliance News) - Unite Group PLC on Friday backed full-year guidance as it looks to speed up asset sales to allow more funds to be put towards share buybacks. Read More
(Alliance News) - Stock prices in Europe edged higher on Friday, while trade in Asia was optimistic on Middle East ceasefire hope, with eyes on how peace talks between the US and Iran progress. Read More
(Alliance News) - AO World PLC on Friday said its economics strategy and membership model "continues to deliver results". Read More
Kingfisher PLC - London-based home improvement products retailer - Launches the first GBP75 million tranche of its new GBP300 million share buyback programme. The firm says BNP Paribas SA will conduct the buyback, which will end by June 30. Last month, Kingfisher said it will purchase GBP300 million of its shares for cancellation, after completing another GBP300 million buyback. Read More
(Alliance News) - Unite Group reports a valuation decline but says it will look to seal more disposals to put towards buybacks. AO World maintains its profit view. Read More
(Alliance News) - UK shopper footfall failed to meet expectations in March despite Easter and the school holidays falling earlier than usual, figures show. Read More
(Alliance News) - London's FTSE 100 is called to open slightly higher on Friday, as event in the Middle East, where the Strait of Hormuz remains in focus, and a US inflation reading in the spotlight as the week winds down. Read More
(Alliance News) - British Prime Minister Keir Starmer and US President Donald Trump on Thursday agreed the "need for a practical plan" to get shipping moving again through the Strait of Hormuz following the US-Iran ceasefire, the UK leader's office said. Read More
(Alliance News) - Just 10 vessels have passed through Strait of Hormuz since the Middle East war ceasefire took effect, according to maritime tracking data, amid lingering fears about using the strategic waterway. Read More
(Alliance News) - Israel and Lebanon will hold talks next week in Washington after Prime Minister Benjamin Netanyahu ordered direct talks, a source familiar with the situation told AFP Thursday. Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News: Read More
ImmuPharma PLC - London-based specialist drug discovery and development company - Chair Tim McCarthy produces open letter to shareholders, noting that resolutions relating to the proposed GBP6 million Lanstead subscription and GBP468,000 WRAP retail offer were approved at the general meeting. Says the fundraise "significantly strengthens our balance sheet and provides the capital required to advance our key strategic priorities." McCarthy adds that ImmuPharma's primary focus remains securing a value-enhancing partnering agreement for lead auto-immune technology platform, P140, this year, as recent progress "continues to reinforce both [its] scientific rationale and commercial positioning," and management is "actively engaged in progressing discussions toward this objective". ImmuPharma is also investing in its "second key asset", type 1 diabetes treatment Kapiglucagon. Says the structure of the Lanstead subscription provides a mechanism to potentially benefit from future share price performance, with an 8 pence benchmark acting as the reference point for returns, meaning that progress on P140 and Kapiglucagon could "support value creation over the period of the [sharing] agreement." Read More
(Alliance News) - The National Investment Fund of the Republic of Uzbekistan, known as UzNIF, said on Thursday evening that the UK Financial Conduct Authority has approved its registration document, as it mulls an initial public offering in Tashkent and London. Read More
Mercantile Ports & Logistics Ltd - operator and developer of a port and logistics facility in Navi Mumbai - Confirms that it is still pursuing all available legal remedies to regain control of its Karanja Terminal & Logistics Pvt Ltd, or KTPL, asset. It had previously agreed a settlement with the consortium of banks which held its debt, but this was annulled as one bank did not sanction it, after which it offered to redeem its entire debt before India's Supreme Court. Says the court has directed the Committee of Creditors, led by Prudent ARC Ltd (which now holds MPL's debt following a previous transaction) to consider the redemption proposal. "Despite the passage of a significant period of time, the CoC is yet to consider or take any action to implement the proposal," MPL says. Adds that third parties have submitted two separate resolution plans to the CoC to acquire the asset through the insolvency process, further underscoring MPL's fears that the process was "intended to transfer the asset away from the company and its international shareholders." A meeting with the CoC has been scheduled for Friday, after which MPL expects to update shareholders. Read More
(Alliance News) - The FTSE 100 nursed modest losses on Thursday as doubts grew over the strength and sustainability of the US-Iran ceasefire. Read More