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Westhouse Securities has downgraded British oil and gas firm IGas from “buy” to “neutral”. Analyst Mark Henderson cited the “significant uncertainty” created by Lancashire Council’s decision to deny permission for Cuadrilla Resources’ two proposed shale gas wells, and the EAC recommendation to put a moratorium on shale gas fracking in the UK.
Numis retained its “buy” rating for UK diamond miner Petra Diamonds but decreased its target price to 250p on the back of a reduction in Petra’s diamond price guidance for the year. “Operations continue to ramp up well, but with lower grades at Cullinan spoiling the party,” added analyst Phil Swinfen.