-- Britain's total vehicle manufacturing dropped 8.2% year over year to 72,511 units in March, the Society of Motor Manufacturers and Traders said Thursday.
Car production declined 0.8% to 69,755 units, while commercial vehicle output plunged 68.3% to 2,756 units.
In the 12 months to March, total vehicle manufacturing decreased 13% to 208,088 units.
GCL Technology (HKG:3800) said its GCL Solar Star Investment unit plans to raise $148 million via a debt offering, according to a Hong Kong bourse filing Wednesday.The solar materials manufacturer's shares were down over 4% in late morning trade Thursday.The issue involves the sale of 6.95% guaranteed convertible bonds due 2027 that can be exchanged for shares of GCL Technology at an initial rate of HK$1.21 per conversion share.Assuming full conversion, the bonds would net 958.6 million GCL Technology shares, representing 2.80% of the business on an enlarged basis.The convertible bonds are planned for listing in Vienna.Proceeds from the debt offering will be used for general corporate purposes and repayment of debts, GCL Technology said.
Ramelius Resources (ASX:RMS) might be able to achieve the midpoint of its fiscal year 2026 production guidance due to stockpiles at its Dalgaranga and Penny gold operations, Euroz Hartleys said in a Wednesday note.The company released its March quarter report, with production falling from the previous quarter due to haul road closures and heavy rainfall. It maintained fiscal year 2026 production guidance at 185,000 to 205,000 ounces.Euroz Hartleys forecasts June quarter production of roughly 55,000 ounces at an all-in sustaining cost of around AU$2,200 per ounce."We remain excited for the ramp up of Dalgaranga with first ore one month ahead of schedule," the equity research firm said, adding that a ball mill drive train upgrade will allow a finer grind for the Dalgaranga ore, improving recoveries to above 90% from around 80%. It also pointed to an opportunity for Ramelius Resources to displace low-grade stockpiles with higher-grade mined ore from fiscal year 2028 to fiscal year 2030.Euroz Hartleys maintained a buy recommendation on Ramelius Resources and lowered its price target to AU$5.27 per share from AU$6.21, mainly due to a lower spot gold price.Shares of Ramelius fell 5% in recent Thursday trade.
Moody's affirmed the long-term issuer rating of Orlen (PKN.WA) at A3, citing the company's "strong" balance sheet and strategic importance to Poland.In a Wednesday note, the rating agency also highlighted the Polish state-owned energy group's integrated business model and liquidity, as well as expectations that the company will benefit from higher oil prices and a favorable environment in 2026.The outlook on the rating is stable, reflecting expectations that Orlen will continue to manage its balance sheet conservatively.