Gilts

Gilts ended the week on firmer ground as demand for low-risk assets continued to be boosted by a weak US jobs report on Thursday. The Bank of England looks certain to keep interest rates at a record low 0.5 per cent next week. The September gilt future rose 9p to £117.68. Yields on ten-year gilts fell one basis point to 3.73 per cent.

Rumour of the Day

Kalahari Minerals, up 4p at 131p, is tipped to upgrade the size of its uranium deposit at Rossing South, Namibia, when new drilling completes in August. It is 7km south of Rio Tinto’s Rossing mine, where diminishing ore quality may force Rio to invest in extra treatment plants or tie up a deal with Kalahari to access Rossing South.

Deal of the Day

Mwana Africa’s bosses are backing their plan, revealed on Wednesday, to spend the company’s remaining cash reopening a goldmine in Zimbabwe. Oliver Baring, the chairman, bought £8,800 of shares that day and Kalaa Mpinga, the chief executive, bought shares worth £55,800 yesterday. The stock began the week at 7.86p and closed it at 4.95p.

Bet of the Day

Extrabet is offering odds on what the highest British temperature in 2009 will be, with punters given three choices. Between 31C-33C attracts odds of 7-4, while the next temperature bracket up, 33.1C-35C, is at 5-4 and anything greater than 35C is given odds of 9-4. The latter apparently received several bets of more than £1,000 on Wednesday.

Tiddler to watch

Shares in Southern Cross, the care home operator, which rose 2p to 145p, have been recovering after it cut debts, but the spectres of swine flu and a heatwave loom large. If one or both cut the life expectancy of Southern Cross’s customers, there is the prospect of more — revenue-free — empty beds. Brewin Dolphin cut from “hold” to “reduce”.

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