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Morning Report: Oracle Power highlights 'significant' talks over rail development proposal

Headlines from the Proactive UK newsroom.

Oracle Power PLC (LON:ORCP) has highlighted recent talks between the Pakistan authorities and the chair of the China-Pakistan Economic Corridor (CPEC) organisation which, among other things, covered proposals to build a rail line through the Thar desert. Such a project would significantly unlock value at Oracle’s coal mine projects in the desert.

Gfinity (LON:GFIN) is to operate the online qualifier and online playoffs for the ePremier League USA.  The ePremier League USA, delivered by NBC Sports and the Premier League, is a free-to-play tournament with the finals to be played in Philadelphia over the 4-5 April.

Anglo Pacific (LON:APF) has seen little impact so far from coronavirus, adding if anything it has had a mildly positive effect on the commodities it is exposed to. Coking coal prices have risen by 14%, iron ore is flat while copper has dipped by 7%.

Itaconix (LON:ITX) has received an order from a second European customer for its polymer-based detergent ingredient. The new customer is using the Itaconix polymer as a key ingredient in a new non-phosphate detergent.

Hammerson (LON:HMSO) lost £781mln in 2019 as it took major impairments on its estate of retail properties. "The magnitude of the challenge facing UK retail is significant” said the shopping property group, which will chop its dividend by 46% in the coming year.

Prudential has confirmed it received a letter yesterday from US hedge fund Third Point asking it to separate its Asian division and US business Jackson Life and shift both out of the UK. 

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