In quiet trading ahead of new year, UK shares inched into positive territory and looked likely to finish 2021 on a high note with the FTSE 100 booking mid double- digit gains for the year.
Investors will be watching for further signs of economic strength in the US when weekly jobless data is released later today, setting the tone for increased tightening of US monetary policy.
At midday the FTSE 100 index of leading shares was up 0.1% at 7,426 points.
CORPORATE NEWS
Iron ore miner Ferrexpo (FXPO) said it had appointed Natalie Polischuk as an Independent non-executive Director to the group’s board.
Ms Polischuk is an economist based in Kyiv, Ukraine, with over 25 years of experience working in the finance sector in both Ukraine and more widely in Eastern Europe.
Chairman Lucio Genovese commented: ‘We understand the importance of achieving the correct balance of both experience and geography on our Board, with our operating base in Ukraine and listing in London, and we feel the addition of a further Independent Non-executive Director based in Ukraine will provide the Group with an excellent balance of these two jurisdictions.’
The shares were unchanged at 303p.
Mining exploration company Eurasia Mining (EUA:AIM) provided a strategy and progress update in relation to the hydrogen and amomia markets.
The company said it had identified new opportunities which are complementary to the platinum group metals business in Russia.
It has signed an agreement with an engineering and development company H4 Eneergy specializing in hydrogen and ammonia projects in relation to developing a joint venture. The company said it is negotiating energy supply agreements with regional suppliers.
The shares gained 4.3% to 23.2p.
FIRST DAY OF DEALINGS
Shares in energy company President Energy (PPC:AIM) sank 17% to 2.07p after announcing the admission of shares in Atome Energy (ATOM:AIM), a company solely focused on being a producer of green hydrogen and ammonia.
After spinning off Atome and distributing a dividend in Atome’s shares President Energy will hold 27.9% of Atome’s shares.
A list of FTSE 100 index movers can be found here.
