skip to Main Content
 

Three Quick Facts: 88 Energy, Melrose, DX Group

*

Three things you need to know in the financial markets today from investment writer, Tony Cross.

#1. 88 Energy Resource estimates looking upbeat

There are some positive drill results out from 88 Energy [LON:88E] this morning, highlighting an independent contingent resource estimate, something which is seen as being a key step in terms of understanding the possible wider development of the company’s Project Phoenix. Gross best estimates put the contingent resource at 250 million barrels of oil equivalent.

#2. Melrose extends partnership with GE

Melrose Industries [LON:MRO] has this morning announced it has signed a major new agreement with GE Aerospace. The expansion of the long term partnership sees Melrose playing a significantly greater part in the aftermarket phase of aircraft engine maintenance. Sales associated with the deal are expected to be worth in the region of $5bn over the next 30 years, with proprietary technology from Melrose subsidiary GKN Aerospace being used to reduce both cost and carbon emissions.

#3. Possible buyout of DX Group gains momentum

HIG European Capital Partners has issued a statement this morning advising that it has now received letters of intent covering more than 30% of the issued equity in DX Group [LON:DX] to support a takeover bid. These replace the LoI’s submitted.  Any possible offer is subject to satisfactory completion of due diligence plus an unconditional recommendation by directors to shareholders.

Like this article? Sign up to our free newsletter.

This article does not constitute investment advice. Do your own research or consult a professional advisor.

The Armchair Trader's 'How to' Guides

In-depth Reports

Detailed reviews of selected companies and investment trusts.

Thanks to our Partners

Our partners are established, regulated businesses and we are grateful for their support.

Aquis
FP Markets
IG
Pepperstone
WisdomTree
CME Group
Back To Top