The emerging markets investment manager saw its shares shoot to the top of the FTSE-250 leader board today. With significant exposure to distressed Venezuelan debt, including the country’s state-owned oil company Petroleos De Venezuela, there’s clearly an expectation that the overdue bonds held could now pay out. The Ashmore share price was around 10% higher in early trade.
Defence specialists BAE Systems had a good start to the day. There’s no news to attribute to gains seen by the stock, but moves by the US over the weekend have provided a step change for the global defence industry and BAE appears to be seeing some upside here. Critically executing regime changes as has been seen in Venezuela so quickly does little to dial down the rhetoric when it comes to geopolitical tensions – if the US can get away with this, who is next? The BAE Systems share price was trading almost 5% higher shortly after the open.
Perhaps unsurprisingly with the geopolitical backdrop darkening fundamentally over the weekend, demand for gold has been resurgent over the last few hours. As a result, mining stocks – especially those focused on the precious metal - are finding favour with Endeavour has been a key beneficiary here with the underlying gold price once again setting its sights on a new test of all time highs. The Endeavour share price was up 4% by 8.45am.
Most read news on Investegate this morning
Statement regarding Possible Offer - - Auction Technology Group (ATG)
Balthaga Project Saudi Arabia: Exploration Update - - Power Metal Resources (POW)
Offtake and Prepayment Agreement - - Premier African Minerals Ltd (PREM)
