Stocks to watch
Tesco confirmed on Monday that it was considering a sale of its businesses in Thailand and Malaysia after “inbound interest”. “The evaluation of strategic options is at an early stage, no decisions concerning the future of Tesco Thailand or Malaysia have been taken, and there can be no assurance that any transaction will be concluded. A further announcement will be made if and when appropriate,” the company said in a statement.
Engineering group Senior confirmed it was considering a sale of its aerostructure unit after recent speculation. “It is Senior’s policy to review its portfolio on an ongoing basis and evaluate all its operating businesses in terms of their strategic fit within the group,” the company said in a statement on Monday. “Senior can confirm that it has been reviewing all strategic options for its Aerostructures business, which includes an early stage assessment of a potential divestment of the division. There can be no certainty that this will lead to a transaction.” The aerostructure unit supplies parts for airplanes and is part of Senior’s aerospace business, which accounts for about 70% of overall revenue.
Provident Financial said it had appointed Neeraj Kapur as chief finance officer, starting on 1 April, succeeding Simon Thomas who in July said he was stepping down for health reasons. Kapur is chief financial officer of Secure Trust Bank , a UK retail and SME bank, Provident said.
Following performance issues this year, Tullow Oil has cut its 2020 production forecast to between 70,000 and 80,000 barrels of oil per day, while also warning that the following three years are now expected to average out at around 70,000 bopd. The FTSE 250-listed company said this is due to significantly reduced offtake of gas by the Ghana National Gas Company, increased water cut on some wells, lower facility uptime and mechanical issues on two new wells. Meanwhile, Tullow also announced that chief executive officer Paul McDade and exploration director Angus McCross have resigned from the board with immediate effect.
Newspaper round-up
Heavy rain heaped more pressure on UK shopkeepers in November, with high street retailers hit hardest by declining shopper numbers. The number of visitors to high streets fell by 4.3% in November compared with the same month last year, twice the rate of decline of retail parks, which fell by 1.8%, according to new figures from Springboard, a data company. – Guardian
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