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The below stocks have been identified as having potential to register bigger than normal share price moves (up or down) today based on the news cited
Smith & Nephew is in discussions to acquire US med-equipment name NuVasive in a deal mooted as S&N’s biggest to date, worth north of $3bn. NuVasive shares were up 24% in after-hours trading while Smith & Nephew’s American Depositary Receipts were -3%.
Polymetal approved start of POX-2 oxidation plant project, expected to “meaningfully” increase reserve base (+30-35 Koz of gold/year) and lower costs by $100-150/oz for 500 Koz of annual gold production. Plant will allow processing of all gold concentrate in-house and start prod. in Q3 2023.
Acacia Mining FY 18 revenues -11.6%, EBITDA -12.1%, gold production -32% (beat guidance), costs +3% (beat guidance), cash +61.7%. Sees FY’19 gold prod. c. 500-550K, in-line with 2018, and CapEx 8-19% lower. Expects $18-22m legal costs from Tanzania disputes (vs £28m in ‘18).
Iceland interested in acquiring stores that Sainsbury and Asda are forced to divest as part of their proposed merger (yet to be approved by CMA). Morrisons has also been viewed as likely to bid for stores, to boost market share.
(Sources: Company newswires, Bloomberg, CNBC, FT, Reuters, Wall Street Journal)
For more information on any of these individual news items, call into the trading floor
| Stock | Close | High | Low |
| SSE | -0.2% | 0.5% | -2.1% |
| Earthport | 16.0% | 16.8% | 8.8% |
| Glencore | -1.8% | 1.0% | -1.8% |
| Rio Tinto | -0.1% | 0.9% | -0.9% |
| BHP | 0.0% | 0.8% | -0.6% |
| Anglo American | -0.7% | 0.3% | -1.5% |
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Prepared by Michael van Dulken, Head of Research