Market Pulse
Small cap news round-up
Modern Water, an AIM listed provider for water and wastewater treatment and the monitoring of water quality, improved on its performance during the first half by cutting down on costs.
FTSE 100 movers: Glencore rallies but housebuilders lose ground
London’s FTSE 100 index was up 0. 3% to 6,682. 13 as investors digested some encouraging jobs data.
Rockhopper Exploration optimistic on potential of North Falkland basin
Rockhopper Exploration progressed on integrating its recent acquisitions, while completing a resource audit of its acreage in the North Falklands basin and increasing production from its Italian and Egyptian sites.
Ford 2017 results likely to take hit from investment in new technology
CEO of Ford Mark Fields admitted that the United States car manufacturer may suffer disappointing results in 2017, as the company invests heavily in new technology such as autonomous driving.
FTSE 250 movers: Galliford Try powers ahead while Redrow drags its feet
The FTSE 250 was just above the line in afternoon trading on Wednesday, as commodities provided a boost and investors took heart from solid jobs data.
Quadrise Fuels extends core fuel contract with AkzoNobel
Quadrise Fuels has extended two crucial agreements with Dutch chemicals giant AkzoNobel to continue developing a new form of marine fuel.
Results round-up
FTSE 250 homeware retailer Dunelm reported a rise in full-year profit as revenue increased and the company grew its market share despite the growth of new competition, particularly online.
Premier African begins lithium drilling programme, hires David Lenigas
Premier African Minerals, a South and West Africa based multi-commodity mining development company, has begun a diamond drilling programme on its Zulu lithium project.
Allergan to buy Vitae Pharmaceuticals in $639m deal
Allergan has agreed to buy clinical-stage biotechnology company Vitae Pharmaceuticals for $21 per share in cash, for a total transaction value of about $639m.
Modern Water clamps down on costs in first half
Modern Water, an AIM listed provider for water and wastewater treatment and the monitoring of water quality, improved on its performance during the first half by cutting down on costs.
Digital Barriers secures $2.2m contract with US agency
AIM-listed security and surveillance company Digital Barriers has secured a $2. 2m contract to provide its EdgeVis Live advanced wireless surveillance technology to a flagship US Federal law enforcement agency.
Ocado slumps on Exane downgrade
Ocado traded sharply lower on Wednesday after Exane BNP Paribas downgraded the stock to ‘underperform’ from ‘neutral’, keeping the price target at 215p, as it pointed to margin pressure and said the market’s expectations for profitability were too high.
London midday: Resources stocks lift FTSE as housebuilders subside
London stocks continued to improve as Wednesday wore on, to recover most of the losses from the previous session by midday as commodities provided a boost and investors took heart from solid jobs data.
UK unemployment remains unchanged in August, wage growth slows
The UK unemployment rate remained unchanged at 4. 9%, official figures showed on Wednesday, with jobless claims rising and average weekly earnings growth slipping slightly less than expected.
Driver Group flags £9m operating loss for current year
Global professional services consultancy in the construction and engineering industries, Driver Group, updated the market on its trading performance during the second half of the financial year to 30 September on Wednesday.
Revenue shrinks and losses widen at Plant Health Care
Patent-protected biological products provider Plant Health Care announced its interim results for the six months to 30 June on Wednesday, with revenue at $2. 9m against $3. 2m for the six months to 30 June 2015.
Cambian Group revenue up on increased occupancy
Care facility provider Cambian Group posted its half-year results for the six months to 30 June on Wednesday, with revenue growth of 14% to £160. 0m, which it put down to increased occupancy.
UK cannot have 'à la carte access' to single market, says Juncker
The Brexit vote does not mean the “disintegration of the European Union”, the EU Commission President insisted on Wednesday at the state of the union address, as he warned the UK would not have access to the single market.
Europe midday: Stocks edge higher as oil prices recover
European stocks edged higher on Wednesday as oil prices recovered, although luxury stocks were under pressure following disappointing news from Richemont and Hermes.
Accesso Technology back in profits in first half
Accesso Technology, provider of queuing and ticketing technology solutions to theme parks and attractions, experienced growth for all its products in the first half but cautioned that bad weather had affected trading at the start of the second half.