Edison Investment Research

Future (FUTR): acquires Newbay Media, a US based information and events business

Stock up 3.90% to 400.0p at 08.08

FUTR acquired Newbay for an initial net cash consideration of $12.25m (£8.62m) and $1.55m (£1.09m) shares. Depending on Newbay’s performance, FUTR may pay a further potential deferred consideration of up to $5.60m (£3.94m) in January 2019.

Smith & Nephew (SN.); Namal Nawana appointed as CEO

The company announced the appointment of Namal Nawana as CEO and executive director of the board effective from 7 May 2018.

Caledonia Mining (CMCL); Zimbabwean Export Credit Incentive (ECI) increased; FY 2018 EPS guidance up

Stock up 8.84% to 585.0p at 8.02am

CMCL has received the funds pertaining to February 2018 gold production at the revised rate of 10% ECI vs the earlier 2.5%. The company now expects the FY 1018 EPS to be between 165c and 190c.

Renewi (RWI); trading update: in line with the board’s expectations

The group announced the trading update for the year ended 31 March 2018. Its overall performance is anticipated to be in line with the board’s expectations

OnTheMarket (OTMP); visitor traffic on property portal doubles in March 2018

Stock up 2.28% to 112.0p at 8.04

OTMP announced that the traffic doubled to 12m visits in March 2018 compared to February 2018 and March 2017. The company continues to expand the customer sales team to engage with thousands of small and medium-sized agent firms.

Merchants Trust (MRCH): Full year results – Outperforms benchmark and continues to raise divid

Stock up 0.11% to 468.52p at 08:04

Highlights for the year include a further increase in the annualised dividend to 24.8p, marking a 36th consecutive year, and new borrowing secured at a lower rate. The trust has also outperformed its benchmark and has the second highest dividend yield in the sector.

NetScientific PLC (NSCI): Full year results & £5m placing – progression towards commercia

Revenues declined from £518k in 2016 to £386k in 2017 but NSCI narrowed losses after tax to £9.4m versus £13.1m in 2016, reflecting progression of portfolio companies and additional reduction in group central costs. Three portfolio companies have progressed to commercialisation and two companies remain in the development phase. NSCI has also announced a conditional Placing and Subscription to raise £5m to explore potential acquisition opportunities with a view to gaining critical mass in the IP commercialisation sector.

Hurricane Energy (HUR): No further boulder relocation works required, de-risking the installation pr

Stock down 0.26% to 32.72p at 08:03

Bluewater Energy Services have concluded that the extensive boulder relocation campaign undertaken by TechnipFMC has resulted in an acceptable seabed condition for the installation of the mooring system and confirmed that a further dedicated boulder relocation programme is not required prior to commencing subsea installation operations in Q2-Q3 2018.

Picton Prop Inc Ltd (PCTN): Sale of non-core asset at a 5% premium for £3.85m

Stock up 0.71% to 84.6p at 08:00

Picton has exchanged contracts to sell a non-core asset to Cheshire West and Chester Council for £3.85m with completion due in June 2018. The property, located in central Chester, comprises a fully occupied, multi-let 22,000sqft office building with nine occupiers and a weighted average unexpired lease length of just over three years and a net initial yield of 6.4%.

QinetiQ Group plc (QQ.): Trading in line with expectations

Stock down 0.1% to 200.2p at 08:01

Underlying trading in both the EMEA Services and Global Products divisions was as expected during the final quarter of the year, and the group maintains its expectations for overall performance for FY18.