Jet2, Loopup, Mode Global, Rio Tinto: Morning Roundup

Check out some of the biggest stories from London-listed stocks on Thursday…

Jet2

  • Jet2 Executive Chairman Phillip Meeson made a statement at its annual general meeting.
  • Meeson stated, “Our Leisure Travel business continues to benefit from the significant investment we made in preparation for the Summer 2022 season, retaining over 8,000 loyal colleagues during the pandemic.”
  • Overall, customer bookings remained strong, and pricing remains robust.
  • Furthermore, Winter 2022/23 forward bookings are satisfactory, with average load factors matching those of Winter 2019/20.

Loopup

  • Loopup announced a new material contract win and provided a business update for Cloud Telephony.
  • The cloud platform announced a new material contract win expected to generate £10 million of revenue and £5 million of net cash from October 2022 to September 2023.
  • In addition, Cloud Telephony saw a 133% increase in customer wins and a 252% increase in individual contract wins.
  • Loopup surged 33% following the announcement.

Mode Global

  • Mode Global announced on Thursday that it is now offering Bitcoin cashback to users from over 300 leading UK retailers.
  • Via an affiliate partnership, Mode has been offering cashback in Bitcoin to users, who can shop with household names and be rewarded in Bitcoin for it.
  • This enables users to grow their crypto assets without risking their own capital.

Rio Tinto

  • Rio Tinto and Turquoise Hill reach an agreement in principle for Rio Tinto to acquire full ownership of Turquoise Hill.
  • Shareholders will receive $43 per share from Rio Tinto.
  • Furthermore, the deal will give Rio greater control of the key Mongolian copper mine.
  • Shares of Rio are down 2.6%.

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