Ftse 100 clinging on above 7,500

“Climbing half a per cent, the UK index recrossed the 7,500 mark it grazed last Friday, just about hitting a one month-ish high in the process. The oil situation was the main fuel for the FTSE’s gains; Brent Crude spent Monday tickling a fresh four-year peak of $82 per barrel, the OPEC-Trump spat and impending US sanctions on Iran sending the black stuff up 0.8%; this, in turn, lifted a pleased as punch BP and Shell more than 2% higher apiece, with the FTSE also benefiting from Next’s 8% surge and a rebounding mining sector,” he added.

“While the supply side of the oil story remains heavily influenced by geopolitical risk factors, the demand side is clouded by uncertainty. Escalating trade tensions between the world’s two largest economies present a significant threat to global growth and stability.

A full-blown trade war could negatively impact growth, ultimately denting crude demand which would most likely translate to lower oil prices,” the analyst opined.

The auditor drew attention to the group’s ability to continue as a going concern, noting the group will need to meet its cash flow forecasts, renew its overdraft facility and maintain its current borrowings or raise further finance in order to continue as a going concern. The group’s overdraft facilities require renewal in May 2019 and its loan is currently in breach of its covenants.

The FTSE 100 was up 9 at 7,468, due in no small part to a 1.8% rise for BP PLC ( LON:BP.) and a 1.7% increase for Royal Dutch Shell PLC ( LON:RDSB), as the price of Brent crude remained above the US$80 a barrel mark, despite president Trump stamping his feet and pouting over oil cartel OPEC’s unwillingness to take measures to lower oil prices.

Ceres Power Holdings PLC ( LON:CWR), a world-leading developer of low-cost, next-generation fuel cell technology, has announced the appointment of Caroline Hargrove as a non-executive director of the company effective from the 1 October 2018. The group said Hargrove replaces Mike Lloyd who retired from the board in July 2018. The company also announced that as part of its continued growth and focus on the development of both its PLC and executive boards, Mark Selby, its chief technology officer, will step off the PLC board from 1 October 2018.

Premier African Minerals Limited ( LON:PREM) has said it plans to publish its interim financial statements for the period ended 30 June 2018 on Friday 28 September. The company added that, therefore, it plans to postpone the webinar announced on 17 September to Wednesday 3 October 2018 at 13:00 pm London time in order to allow shareholders the opportunity to review the Accounts and submit questions pertaining to the Accounts prior to the webinar. To register for the event click here.

Interims: Next PLC ( LON:NXT), AG Barr PLC ( LON:BAG), Alltitude Group PLC ( LON:ALT), Animalcare Group PLC ( LON:ANCR), Card Factory PLC ( LON:CARD), Ebiquity PLC ( LON:EBQ), Fireangel Safety Technology Group PLC ( LON:FA.), Harvey Nash Group PLC ( LON:HVN), Keystone Law Group PLC ( LON:KEYS), Learning Technologies Group PLC ( LON:LTG), Mortgage Advice Bureau Holdings PLC ( LON:MAB1), Mi-Pay Group PLC ( LON:MPAY), Osirium Technologies PLC ( LON:OSI), Premier Technical Services Group PLC ( LON:PTSG), Sumo Group PLC ( LON:SUMO), S&U PLC ( LON:SUS), WANdisco PLC ( LON:WAND)

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