Thursday 27 May 2010

Morning news wrap: Marks & Spencer, Prudential, BP, Gulf Keystone Petroleum

In the FTSE 100, retailer Marks & Spencer (LSE: MKS) said that group revenues rose 3.2% in the year to 3 April 2010 to £9.5 billion.
Insurer Prudential (LSDE: PRU) said it had successfully listed on the main board Stock Exchange of Hong Kong Limited and on the Singapore Exchange Securities Trading Limited.
Oil and gas supermajor BP (LSE: BP) provided an update on the Gulf of Mexico oil spill, saying it had developed plans for a series of interventions via the blow out preventer, anticipating to commence them in the next few days.
In AIM, South Africa operating chrome miner Chromex Mining (AIM: CHX) has secured US$5 million  funding for a Dense Media Separation circuit and  ancillary plant improvements at the Stellite  opencast chrome mine located on the western limb of the Bushveld Complex in South Africa.
Commodity asset development company Mercator Gold (AIM: MCR) the mineral resources of the Copper Flat copper-molybdenum-gold-silver deposit located in New Mexico, USA have been estimated by SRK Consulting at 107 million short tons grading an average of 0.303% copper classified as indicated resources with an additional 46 million short tons grading an average of 0.240% copper classified as inferred resources.
Iraq and Algeria operating Gulf Keystone Petroleum (AIM: GKP) has raised US$165 million to progress the three Shaikhan appraisal wells in the Kurdistan region of northern Iraq.
Africa focused gold deposit developer Cluff Gold (AIM: CLF) said it had received positive assay results from the Baomahun project in Sierra Leone, which include an intersection of 38 metres grading 5.43 g/t (grammes per tonne) gold.

http://www.proactiveinvestors.co.uk/companies/news/16907/morning-news-wrap-marks-spencer-prudential-bp-gulf-keystone-petroleum-16907.html

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