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“The FTSE100 was virtually flat in early trading although fears over a hard Brexit pushed sterling lower against the US dollar and gave a boost to miners with Anglo American, Fresnillo, Randgold and BHP Billiton all prominent in early trading, ” says AJ Bell Investment Director Russ Mould.
“Acacia Mining led the FTSE250 board in early trading on talks over a possible tie-up with Endeavour Mining. Acacia is one of the largest gold producers in Africa and currently has three producing mines, all in north-west Tanzania. It also has a portfolio of exploration projects across Africa including Kenya, Burkina Faso and Mali and is continually assessing opportunities to grow and develop its business. Endeavour is currently focused on developing a portfolio of high quality mines in the prolific West African region. Acacia’s shares were up by more than 4.3% in early trading.
“IT solutions provider Instem increased its revenues in 2016 despite a slowdown in the early phase clinical market and contract delays. These disappointments were offset by a strong performance in the majority of the group’s businesses and the overall market dynamics for Instem’s products and services remains positive. Instem’s shares were up by over 2.9%.
“Goals Soccer Centres’ sales rose by 1.3% in 2016 with like-for-like sales up 0.6%. The group currently operates 47 outdoor small-sided soccer centres, including one in California, and is set to open a second centre in the US in February. Goals saw a strong second half performance following its investment in arena modernisation with upgraded ProTurf pitches, new LED lighting systems and renewed stadia board.”
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