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STOCKS TO WATCH: Putin sounds retreat for Russia’s London firms

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STOCKS TO WATCH: Vladimir Putin sounds the retreat for Russia’s London firms

There was disbelief across the City when British authorities refused to expel Russian firms from the London Stock Exchange within the wake of the invasion of Ukraine. 

But now the departure of Russian-incorporated firms is gaining latest momentum because of none apart from Vladimir Putin. 

Lukoil last week announced that it could cancel its listing on the UK’s premier bourse by June. 

Focussed: Vladimir introduced a law that prohibited foreign listings for Russian firms

It follows a law Putin introduced in mid-April that prohibited foreign listings for Russian firms. 

They will still apply for exemptions – as retail giant Magnit did last week – nevertheless it just isn’t clear how flexible the Kremlin is willing to be.

The LSE has suspended shares in dozens of Russian firms since March, meaning the businesses weren’t benefiting from their presence in London. 

But with former FTSE 100 staple Evraz – the steel-maker backed by ostracised oligarch Roman Abramovich – being sanctioned in recent days there may be growing speculation that a wave of fresh departures will follow in the approaching weeks.

Plain sailing for Harbour Energy? 

Harbour Energy is gearing as much as release first-quarter figures hot on the heels of Shell and BP’s blockbuster results. 

Harbour is more likely to be a greater bellwether for a way rising oil and gas prices are affecting groups operating within the North Sea, because it is considered one of the most important UK producers. 

One for the windfall tax-watchers. 

Vin Murria face latest M&C Saatchi deadline

One other month, one other deadline for Britain’s tech queen Vin Murria to table an improved bid for M&C Saatchi. 

Murria, 59, has until 5pm on Tuesday to make her next move. 

The AIM-listed promoting group has been on guard since her first offer via bid vehicle Advanced AdvT in January. 

M&C Saatchi said it was still locked in talks with the serial entrepreneur when it announced the fourth extension to the ‘put up or shut up’ deadline in late April. 

But Murria – the firm’s deputy chair and largest investor – faces an uphill battle after the ad group put out sparkling results that showed it swung back into profit and saw revenues jump by a fifth. 

Still, there could at all times be a fifth extension. 

Argo Blockchain set to start out Texas bitcoin ‘mining’ 

A giant week ahead for Argo Blockchain as its custom-built facility in Texas is resulting from begin bitcoin ‘mining’. 

Removed from being a spades and shovels job, the Dickens County site houses vast amounts of energy-guzzling super-computing hardware that may access latest bitcoins. 

Nevertheless, the timing may very well be higher. 

Mining will start within the wake of a slump that has seen the flagship digital currency fall by a fifth this 12 months to about $36,000 (£29,000). 

Argo’s shares have taken a success too, dropping by greater than a 3rd. Investors will likely be intrigued to see if hitting the mining milestone will likely be enough to fend off one other attack from the mysterious research outfit the Boatman Capital. 

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