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Invesco Acquires KSS Stake

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Invesco Asset Management has bought a 40% stake in Knowledge Support Systems for £7.2m. The company bought the stake from venture capital specialists Eurovestech, which is currently readying itself for a delisting from London’s AIM index. Knowledge Support Systems trades as KSS Fuels and had been owned by Eurovestech since 2003 when it bought the company for £1m.

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Hungary: MOL Downstream Loss Caused by Brent Prices – Simola

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Hungarian state operated producer MOL has reported a net profit of $3.09m for its second financial quarter, down significantly on the same time last year after the company was forced to cancel plans to build a power station and book inventory losses in its downstream business. Low sales in Central and Eastern Europe also dogged the company after it moved 8.3% less of its products than it did in the same three months last year. 

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