Market Report
Jefferies upgrades Fidessa, says margins on upward trend
Jefferies upped its rating on Fidessa to ‘buy’ from hold’ on Monday and hiked the price target to 3,100p from 2,400p following the company’s full-year results, pointing to the emergence of clarity on future margin evolution.
FTSE 100 movers: Reckitt weighs on index; Barratt in favour
Reckitt Benckiser weighed on the FTSE 100 as the index struggled to make any headway on Monday afternoon.
Balfour Beatty sells further 5% stake in Connect Plus
Infrastructure group Balfour Beatty has announced the sale of an additional 5% in Connect Plus, the company which operates the M25 orbital motorway, to funds managed by Equitix for £42m in cash.
UK house prices rise 0.8% in February - Rightmove
The average asking price of a UK home rose 0. 8% on the month in February, or £2,414 to £300,001, following a 0. 7% jump the month before, according to figures released by Rightmove.
BATM ups 2018 guidance on the back of strong second half results in 2017
Real-time networking solutions provider BATM Advanced Communications told investors on Monday that full-year revenue would come in ahead of market expectations after its networking and cyber division, and its biomedical wing, both saw stronger than expected growth throughout 2017.
Asia report: Markets mostly higher as China remains closed
Markets in Asia were mostly higher in a quiet session on Monday, with Greater China bourses still on holiday for the Lunar New Year.
United Oil and Gas appoints Kenmare's Graham Martin to board
London-based investment firm United Oil and Gas appointed Kenmare Resources director Graham Martin to the board as a non-executive chairman with immediate effect.
Baker Steel Resources' largest investment offloads Russian silver mine
Guernsey-based investment company Baker Steel Resources advised investors that Polar Acquisitions (PAL), its largest investment, has agreed to sell its interest in the Prognoz silver mine in Russia to its Channel Island neighbour, Jersey-based Polymetal International, in a deal worth more than $70m.
Physiomics narrows losses despite sliding revenues
Computational biology services provider Physiomics saw revenue drop 57% to £74,000 over the six months leading to 31 December, but the Oxford-based firm believed that a resurgence of interest in rational drug design was just around the corner.
Grafton buys Leyland SDM for £82.4m
FTSE 250 merchanting and DIY group Grafton has acquired London-based independent specialist decorators’ merchant Leyland SDM for £82. 4m on a debt-free, cash-free basis.
AA shares skid as Berenberg downgrades to 'sell' amid dividend concerns
AA was under the cosh on Monday as Berenberg downgraded the insurer and roadside assistance company to ‘sell’ from ‘hold’ and cut the price target to 100p from 170p.
City of London Investment Group makes good first-half progress
City of London Investment Group released its half-year results for the six months to 31 December on Monday, with funds under management reaching $5. 3bn (£3. 9bn) at period end, rising from $4. 7bn at the beginning of the financial year.
Europe midday: Shares slip into red as Reckitt disappoints
European shares slipped into the red at lunchtime on Monday as investors looked for something to chew on with US and China markets both closed.
Reckitt Benckiser 2017 LFL revenues flat
Consumer goods company Reckitt Benckiser reported a rise in pre-tax profit for the year on Monday and an increase in revenue, although like-for-like sales were flat.
London midday: Stocks remain slightly lower as Reckitt weighs; investors pause for breath
London stocks were still just in the red by midday on Monday, weighed by Reckitt Benckiser as investors paused for breath after last week’s solid gains.
MJ Gleeson on track to meet full-year expectations
Community regeneration housebuilder MJ Gleeson announced a “strong performance” for its first half on Monday, with profit before tax up 19. 1% and an increase in the interim dividend of 38. 5% to 9. 0p per share.
Secure Property makes solid NAV gains in 2017
South eastern European-focussed property and investment company Secure Property Development & Investment announced on Monday that, as at 31 December, the net asset value of its portfolio of properties stood at approximately €51. 5m - including €2. 8m being the net value of the prepayments already made by year-end for the Olympians project in Romania.
Petra Diamonds warns on profits again but investors welcome covenant relief
Petra Diamonds warned on Monday that full-year earnings would come in below market expectations, having already issued a profit warning at the end of last month that reset analysts' forecasts.
Gordon Dadds completes Thomas Simon acquisition
AIM-listed Gordon Dadds has completed the acquisition of Cardiff solicitors Thomas Simon for £1. 9m plus an amount related to net tangible assets.
Breedon confirms talks with Belfast-based Lagan
AIM-listed construction materials group Breedon confirmed on Monday that it is in talks with Belfast-based Lagan.