Avanti Communications (AVN); 7-year lease agreement worth $84m with major satellite service provider
Stock up 11.36% to 05.39p at 8:00
AVN announced the leasing of its HYLAS fleet of satellites for seven years at $12m/annum (quarterly instalments; total $84m) to a major international satellite service provider starting Q3 2019, resulting in significant increase in the company’s usage and fill-rates.
Read more...Accsys Technologies (AXS); issues corrected revenue numbers
Stock flat at 101.50p at 8:25
AXS issued correction to the statement provided on 18 September 2018. The company reported that total revenue was €25.6m for the five months to 31 August 2018 and not €26.7m as reported earlier.
Read more...Palace Capital (PCA); quarterly dividend of 4.75p/share for period ending 30 June
Stock up 1.22% to 315.80p at 8:13
PCA announced that it will pay a quarterly dividend of 4.75p/share on 19 October 2018 for three months ended 30 June (to shareholders on register as of 5 October 2018).
Read more...The Merchants Trust (MRCH); half-year results: NAV total return of 7.4%
Stock flat at 504p at 08:04
For the six months ended 31 July 2018, MRCH delivered robust results with NAV total return of 7.4%, significantly ahead of the FTSE All-Share Index (5.0%).
Read more...7Digital (7DIG); multi-year deals with Universal Music Group across 3 digital music products
Stock up 7.27% to 04.72p at 8:02
7DIG announced that it has entered into agreements with Universal Music Group (UMG) to provide partner services across its three separate digital music products. The global agreements cover multi-year terms each, and they will contribute to 7DIG’s revenue from 2018.
Read more...Boku (BOKU); signs agreement with Rakuten for carrier billing solutions
Stock up 0.58% to 173.50p at 8:17
BOKU signed an initial deal with Rakuten Collection to provide carrier billing solutions to the latter’s e-commerce site.
Read more...Kape Technologies(KAPE);H1 2018 results: total revenue decreased by 7.6%
Stock down 2.29% to 128.00p at 8:07
For the six months ended 30 June 2018, KAPE’s total revenue decreased by 7.6% to $27.8m compared to $30.1m for same period last year. Adjusted EBITDA was up 45.1% to $4.3m (H1 2017: $2.9m).
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Brexit: UK Risk premium likely to remain in place
Investors face continued UK uncertainty and polarising outcomes post-Salzburg
The unproductive summit of European leaders in Salzburg this week has highlighted the lack of substantive progress on finding any solution to an exit agreement for the UK which will satisfy the EU, Ireland, Northern Ireland, UK government and UK parliament. Most importantly the declaration by EU Council President Tusk that the UK’s “Chequers” plan will undermine the single market highlights an objection in principle to the UK’s initiative for a free trade area in goods during any Brexit transition period. This principles-based roadblock suggests that tinkering at the edges – such as customs checks in the Irish Sea are irrelevant details. We see elevated political risk in the UK, potentially polarising the outcome between a hard Brexit and no Brexit. Investors will also need to consider the increased risk of a populist UK government.
Read more...Smiths Groups (SMIN):
Final share Price of 30.75p
Engineering company Smiths Groups reported a 2% increase in underlying revenue for the full year to £3.2bn and a 3% increase in underlying profit to £544m.
Read more...Lloyd’s of London (LLOY): back in the black
Combined ratio improved to 95.5%
Lloyd’s of London, the world’s oldest insurance market, returned to the black in the first half of 2018 with a £600m pre-tax profit after natural catastrophes eased. Its combined ratio, a measure of profitability, improved to 95.5% and gross written premiums climbed to £19.3bn versus £18.9bn a year earlier.
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