Rotork (ROR); trading update: revenue increased 10% amid a robust order intake
Stock up 6.9% to 319.6p at 8:00
The group’s revenue increased by 10.2% YoY and 15.8% on an organic constant currency (OCC) basis for the quarter ended 1 April 2018.
Read more...BioPharma Credit (BPCR); New investment in a specialty pharmaceutical company
Stock down 0.48% to USD1.03 at 8:02
BPCR became lead investor and collateral agent to a commercial stage, private, specialty pharmaceutical company.
Read more...Hurricane Energy (HUR); Steven McTiernan appointed as Non-Executive Chairman
Stock up 1.10% to 39.53p 08:02
Hurricane has announced the appointment of Mr Steven McTiernan (67) as Non-Executive Chairman of its board of directors effective 1 May 2018.
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High equity valuations face macro headwinds
Factors behind record run of corporate profitability may be fading
We have had a cautious view on global equities for longer than has been comfortable. In truth, over the last 12 months this view has been 50% right at best. European markets, including the UK, have delivered relatively little capital growth. However the US and emerging markets have moved significantly higher. When the headlines are focussed on geopolitical events, it is also easy to lose sight of the anchor of equity valuations. We have updated our equity valuation measures and find that the US market in particular remains notably expensive while European markets still appear overvalued. We recognise that this has in part been justified by the record run of corporate profitability but the factors driving this phenomenon may now be going into reverse.
Read more...Scottish Oriental (SST); 1H 2018 results: NAV per share decreased 2.3% in total return terms
Stock up 0.61% to 988.0p at 8:15
In the six months to 28 February 2018, NAV per share underperformed the MSCI AC Asia ex-Japan Index, with total returns of 3.4%, and MSCI AC Asia ex-Japan Small Cap Index, with total returns of 4.2%. Net returns per share decreased to -34.14p for 1H18 compared to 79.04p for 1H17.
Read more...Record (REC); trading update: asset under management declined by 2.7%
Stock down 16.07% to 41.25p 08:05
REC announced that the group’s assets under management equivalents (AUME) declined by 2.7% to $62.2bn as of 31 March 2018. When expressed in sterling, AUME declined by 6.3% QoQ.
Read more...Metals Exploration (MTL); Quarterly update on Runruno: BIOX® achieves 100% design throughput
Mining operations are benefitting from the commissioning of the Tullingan waste dump. Komatsu mining equipment has reached mid-life and requires maintenance. The BIOX® circuit has achieved and is maintaining 100% design throughput, which will facilitate higher gold recoveries.
Read more...Serco Group (SRP); resignation of CFO
Angus Cockburn, Chief Financial Officer, has resigned from the Board of GKN plc with immediate effect.
Read more...ReNeuron Group (RENE); wins £1.5m grant for retinal cell therapy development
RENE receives £1.5m grant award from the UK’s innovation agency, Innovate UK, to advance development of its retinal cell therapy programme for blindness-causing degenerative diseases.
Read more...Trifast (TRI); trading update: underlying PBT slightly ahead, organic revenue up across all regions
Stock up 1.04% to 271.80p 08:09
Group’s underlying PBT was ahead of management expectations for the year ended 31 March 2018. All main regions (ex-US) delivered growth in profits.
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