FTSE-100 listed miner Endeavour has this morning published pre-feasibility study results from its Assafou project in the Côte d’Ivoire which confirm that this has the potential to become a tier one asset for the business. A large, long life and low cost gold mining site has been identified, with probable reserves estimated to be in excess of four million ounces. Th Endeavour share price is up just under 2% in early trade with the stock leading London blue chips.
The plant hire specialist Ashtead saw its shares take a beating on Tuesday in the wake of profit downgrades and that pressure is being sustained in early trade on Wednesday. The company is seemingly looking to take advantage of the falling price here by launching the next round of its share buyback scheme, but that’s doing nothing to support the valuation. The Ashtead share price was off a further 5% before 9am, taking two day losses to almost 20%.
The FTSE-250 listed IT company Kainos published an update this morning announcing the swift departure of the CEO after a brief 15 month tenure at the helm, to be replaced by his predecessor and a major shareholder, Brendan Mooney. Brendan firms joined the firm in 1989 and led the business through its IPO almost a decade ago. Whilst swift moves like this can often rattle investor confidence, with the share price trading around multi-year lows, the market has welcomed the change. The Kainos share price is up by more than 6% at 9am.
Headlines we expect tomorrow
Currys Interim Results
This time last year Group revenue £4.2bn, Adj EBIT margin 0.7%, Adj post tax loss £12m
De La Rue Interim Results
This time last year Group revenue £162m, Gross profit £40.2m, Pre-tax loss £16.8m
