Consolidation is a growing theme across the investment trust sector against a backdrop of stubbornly-wide NAV (net asset value) discounts and increasing pressure on sub-scale funds.2024 is already a record year for M&A (mergers and acquisitions) in a sector which has just seen the eleventh such deal announced, the value-oriented Invesco Asia Trust (IAT) planning to combine with Asia Dragon Trust (

Suitor walks awayBlames geopolitical risks, financial market turmoilWood reiterates outlooks for 2024 and 2025Shares in oil services and consulting firm Wood Group (WG.) slumped 38% to 122.3p on Monday after Sidara terminated takeover talks, the suitor citing 'rising geopolitical risks and financial market uncertainty' for its decision not to make a firm offer.Aberdeen-headquartered Wood had rejec

Stock prices in London continued to trend down this week, as new US non farms payroll data signalled that a Fed interest rate cut won't be happening anytime soon.The FTSE 100 index closed down 39.97 points, 0.5%, at 8,245.37. The FTSE 250 ended down 160.51 points, 0.8%, at 20,555.37, and the AIM All-Share closed down 3.01 points, 0.4%, at 793.53.Over the course of the week, they are down 0.4%, 0.8

Stocks in London endured another day of losses on Thursday, extending Wednesday's slump, as investors flee out of equities on the prospect of slowing economic growth and runaway inflation.This was hammered home by US Federal Reserve Governor Christopher Waller, who warned he plans to support an even bigger interest rate increase than last month's three-quarter point hike to fight sky-high inflatio

Tanzania-focused Kibo Mining (KIBO:AIM) has scrapped a plan to merge its gold assets with Lake Victoria Gold in favour of new deal with cash shell Opera Investment (OPRA).Opera will effectively conduct a reverse takeover of the gold projects and rename itself Katoro Gold.The fact that Kibo's shares have fallen 9.8% to 8p is down to a separate announcement concerning delays to receiving money from

UK stocks continue their shortened week slide in early trade on Wednesday as investors wade through a plethora of corporate announcements, with miners and supermarkets acting as a particular drag on blue-chips. The FTSE 100 index falls nearly 40 points, or about 0.6%, to 6,148, matching declines on Wall Street and Asian markets overnight, and across major European indices.Supermarket Sainsbury's (

Do you see anything odd in the accompanying table? It shows the five best performing stocks in the FTSE 100 on 4 February 2016. All five stocks are mining companies and they've recorded between 10% and 20% share price gains in a single day.To the casual observer, the performance figures may imply the start of a recovery in the mining sector. I do not believe this is true as there is no evidence to

The UK government is reportedly (27 Apr) putting the kibosh on foreign takeover interest in BP (BP.). Yet Royal Dutch Shell's (RDSB) £47 billion deal to acquire peer BG (BG.) (8 Apr) is acting as a starting gun for widespread M&A speculation in the undervalued European exploration and production (E&P) sector. Combined with a partial recovery in the oil price this is driving strong share price gai

London shares put in a strong showing in early trade on Monday as markets rebound, after a heavy sell-off the previous session, as sentiment recovers over the weekend following stimulus measures in China. The benchmark FTSE 100 is up around 60 points, or 0.9%, at 7,057 in early deals, with mining stocks leading the charge, including a 3.2% rise for Anglo American (AAL) to £10.43, heading the Foot

JD Wetherspoon (JDW) falls 2.1% to 794.5p on a 0.9% dropin pre-tax profit to £37.5 million in the 26 weeks to 25 January due to increased competition from supermarkets and higher pay and bonuses from pub staff. Like-for-like sales in the first six weeks of the second half have slowed to 1.6% which could drag on margins. Chairman Tim Martin says the strong second half of last financial year will b

The UK market dipped in early trading on Tuesday as investors ditched banks and oil companies. The FTSE 100 fell 37.8 points, or 0.57%, on reports that HSBC's (HSBA) private bank is helping the wealthy to avoid paying tax. The UK's largest bank was down 2.1% to 597.6p. Investors dumped other blue chip lenders following the news with Standard Chartered (STAN) slipping 2.4% to 916.8p and Barclays (B

The sharp decline in the oil price since June has put commodities back on the mainstream news agenda as investors speculate where energy, metal and food prices are headed next. The direction of oil, copper, wheat and other commodities are hugely relevant to investors as they are key raw materials for companies around the world, not to mention a major influence on the cost of everyday living.Amid c

Emerging markets asset manager Ashmore (ASHM) dives 11.1% to 363.4p after revealinga large net outflow of money from clients to the tune of $3.5 billion.Global online fashion and beauty retailer ASOS (ASC:AIM) falls 1.6% to £67.50 despite reportingimpressive growth rates for the first four months to end-December. Total sales rose 37% to £342.6 million, with UK retail sales increasing by the same

Following a profit warning earlier this year, retinal diagnostics specialist Optos (OPTS) has today soared 20.2% to 144.2p following a solid third quarter update. The company is on course to hit revised expectations after generating $40 million in revenue during the quarter and cutting its debt by $10 million. No reason was given as to why Chief financial officer (CFO) Louisa Burdett is stepping d

High-tech camera kit supplier Andor Technology (AND:AIM) is fast losing hard-earned blue-chip status after another damaging profit warning. Scientific research funding is rapidly thinning out in the face of ongoing austerity.While next week's (24 June) half-year figures will be on the money, sales for the year will fall £4 million year-on-year to roughly £54 million, and taxable profits face bei