Dispute financing company Litigation Capital Management (LCM) has executed a portfolio finance agreement, it announced on Monday, to provide a “significant” finance facility to a subsidiary of a global building and infrastructure contractor, to fund a portfolio of its construction claims. The AIM-traded firm said the large corporate portfolio transaction …
Read More »US manufacturing and services sector PMIs jump in July
Activity levels at both US factories and among services sector firms picked up substantially in August, according to the results of two closely-followed surveys. IHS Markit‘s manufacturing sector Purchasing Managers’ Index jumped from July’s reading of 50.9 to 53.6 for August (consensus: 51.5). Services activity also accelerated, with the PMI …
Read More »FTSE 250 movers: HGCapital Trust rallies; Bellway falls on downgrade
London’s FTSE 250 was up 0.1% at 17,508.76 in afternoon trade on Friday. HGCapital Trust was a high riser after saying it will invest around £17.1m in Norwegian enterprise software group Visma. On the downside, oilfield services company Petrofac was in the red after a downgrade to ‘market perform’ from …
Read More »FTSE 250 movers: Rotork retreats; Frasers rallies
Valve manufacturer Rotork was on the back foot as its stock went ex-dividend. Frasers Group, formerly Sports Direct, gained after saying it plans to spend £100m on its digital elevation strategy and forecasting a 10-30% improvement in underlying core earnings next year as 2020 profits fell by a fifth due …
Read More »Tasty cuts workforce by a third, mulls equity raising as outlets reopen
Wildwood restaurant chain owner Tasty said on Tuesday it would open around 86% of its estate this month having cut its workforce by more than 30%, as it considered an equity raising and warned of a “challenging” market. The firm said it remained “extremely cautious” regarding trading in September and …
Read More »FTSE 250 movers: William Hill surges on broker note; Capita slides
William Hill surged after Jefferies upped its price target on the buy-rated stock. “William Hill boasts the leading US sports betting market share, yet we see zero value priced in. US competitive positioning continues to strengthen with: 1) An enlarged retail footprint due to the Caesar’s deal; and, 2) Launch …
Read More »Director dealings: AO World CFO sells shares
AO World revealed on Tuesday that chief financial officer Mark Higgins had disposed of 146,411 ordinary shares in the FTSE 250-listed retailer. Higgins, who exercised nil cost options over a total of 309,537 ordinary shares on Monday, sold the shares at an average price of 195.0p each, for a total …
Read More »London close: Stocks finish weaker amid US-China concerns
London stocks had turned negative by the close on Tuesday, amid growing tensions between the US and China, offset by a strong performance from housebuilders. The FTSE 100 ended the session down 0.83% at 6,076.62, and the FTSE 250 was 0.84% weaker at 17,623.02. Sterling was trading strongly in the …
Read More »FTSE 250 movers: Renishaw retreats on results; Watches of Switzerland sparkles
Engineering company Renishaw was the worst performer as it posted a drop in full-year profit as revenue fell amid “very challenging economic conditions”. National Express was also on the back foot after saying it swung to a half-year loss as the coronavirus lockdown led to an 80% slump in passenger …
Read More »FTSE 250 movers: AO World surges; Capco down on results
London’s FTSE 250 was up 0.5% at 18,077.60 in afternoon trade on Wednesday. Online electrical goods retailer AO World surged to the top of the index, with traders pointing to positive read-across from Asos, which said annual sales and profit were set to be “significantly ahead” of market expectations. Although …
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