Edison Investment Research

Stobart Group Ltd (STOB): Appointment of Richard Laycock as Chief Financial Officer and Berenberg as

Stock up 1.0% at 08:01

Richard Laycock, appointed as CFO from 1 February 2018, has served as Group Finance Director since October 2014 and has a wealth of knowledge about the Group and experience in all aspects of financial leadership. John Garbutt steps down as Non-Executive Director and Chairman of the Remuneration Committee.

Braemar Shipping (BMS): Acquisition of Atlantic Brokers Ltd.

BMS acquires Atlantic Brokers Ltd, an established broker of physical and financial coal products, for £4.8m (8x FY17 PBT).

Pan African Resources Plc (PAF): Operational Update & Trading Statement

Stock down 1.3% as at 09:14

Group gold production reduced by 6.9% due to operational challenges at Barberton mines. The group’s production guidance for 2018 financial year will now be 177,000oz to 181,000oz.

De La Rue PLC (DLAR): Secures strategic relationship for its paper business

Stock up 3.4% as at 09:14

DLAR reaches a significant milestone in delivering their strategy to transform into a less capital intensive, technology-led product and service provider. The transaction limits De La Rue’s exposure to the external paper market while securing paper supplies and maintaining the Group’s position as the world’s leading integrated banknote supplier.

Rising bond yields: Mini-drama perhaps, but not a crisis

Rising yields a ‘known’ risk – declining economic momentum would be a bigger concern

This week’s modest declines in equity markets may be the largest of the last nine months but that is only an illustration of just how far equity market volatility has fallen. The narrative of rising bond yields and inflation expectations is being used to explain the market declines. This is understandable and we ourselves have previously highlighted the anomalously low level of global bond yields. However, rising yields are a known risk for 2018 and unlikely to create a major sell-off in equity markets by themselves. We would be more concerned if there was firm evidence of a meaningful slowdown in economic momentum. Such evidence is - for now - largely absent in either Europe, the US or China.

discoverIE Group plc (DSCV): Acquisition of the Santon Group

Stock up 0.7% as at 09:14

The acquisition is expected to nearly double the Group’s sales into the renewable energy sector and increase the level of Group sales into Asia

Keywords Studios PLC (KWS): Full year trading update

Stock up 6.4% as at 09:14

Results expected to be comfortably ahead of market expectations. KWS has seen strong organic growth, has expanded quickly in 2017 through acquisitions, and is well placed to complete further selective acquisitions in 2018

Stride Gaming PLC (STR): Positive trading momentum and continued strategic progress.

Stock up 2% as at 09:14

STR sees positive trading momentum at start of financial year.

Templeton Emerging Markets Investment Trust PLC (TEM): Appointment of Lead Portfolio Manager

Stock down 0.6% as at 09:14

TEM appoints Chetan Sehgal, who has worked for 2 years at TEM but has 22 years EM experience, as lead portfolio manager after Carlos Hardenberg resigns.

Rank Group PLC (RNK): Half year results for the 6 months ended 31 December 2017

Stock down 0.7% as at 09:14

RANK faced a more challenging retail trading environment in the first half with visitor numbers down, although digital performance was strong with digital revenue up 16% and digital operating profit up 56% in the period.