London’s small and mid cap markets traded slightly weaker on Thursday following the release of UK GDP figures and the prospect of the US releasing oil reserves hit energy prices.
Brewin Dolphin’s takeover by RBC made the wealth management company the FTSE 250 top riser with a gain of some 60%.
FTSE 250 Risers
Brewin Dolphin shares soared 61% to 512p as the Royal Bank of Canda agreed to buy the investment advice company for £1.6bn.
Rathbone Brothers gained 11% to 1,968p as a positive read across from the RBC acquistion of Brewin.
Trainline shares bounced back from its slump yesterday with gains of 21% to 240p as the travel ticketing company proposed changes to its commission rates.
“The rail industry is undergoing a lot of changes, and this includes reviewing the cut that third party ticket sellers get when they put bums on seats,” said Russ Mould, Investment Director, AJ Bell.
Dietary fibre business, Tate & Lyle announced the acquistion of Chinese company Quantum for $237m sending it shares to rise 2.7% to 739p.
Safestore rose 0.9% to 1,347 as the company decided to purchase the remaining 80% ownership in Benelux, a joint venture with Carlyle Europe Realty.
HICL shares gained 0.3% to 177p announced the disposal of its entire interest in the Queen Alexandra Hospital PFI project to InfraRed European Infrastructure Income Fund for £108m.
FTSE 250 Fallers
Tullow oil shares dropped 3% to 51.6p as oil prices dipped with possibility of Biden administration releasing 180m barrels of oil from the SPR to curb fuel prices.
Retail stocks take the hit as retail spending is at lowest of all time, with Frasers, Pets at Home, WHSmith, M&S, Moonpig and Currys down 2.9%, 1.9%, 0.7%, 0.6%, 0.18% and 0.16% respectively.
However, Vivo Energy and Dunelm Group shares increased 0.22% and 0.27% respectively.
AIM Risers
Mirriad Advertising shares flew 24% to 21.5p when the company announced launch of The Lost Audiences – Regaining Control which highlighted the growth avenue for brands and advertisers to expand their reach via in-content advertising and to engage audiences in an impactful and non-disruptive way.
Renalytix gained 24% to 335p as the company completed a $30m financing package.
AIM Fallers
Xeros Technology shares sank 31% to 61p as the company no longer expects to reach month-on-month EBITDA profitability and breakeven in the first quarter of 2023 due to China restarting lockdowns and India’s slow return to normal operations because of the third wave of the pandemic.
Diamond producer, BlueRock Diamonds fell nearly 30% to 37.5p when the firm raised £2.1m by placing 6m shares at a 35% discount to fund its upgraded mining plans and pay its contractors.
Aukett Swanke shares lost 20% to 1.55p after the company reported a 22% decerase to £8m from £11m in revenues excluding sub consultant costs due to uncertainty in decision making and inevitable delays because of the pandemic.
Business in continental Europe made a profit of £330k exclusding group management charges, however the UK and Middle East business made losses for Aukett.
Kore Potash shares plummeted 15% as the company continues to make losses in 2021, with a pre-tax loss of $2m as opposed to $1m in 2020.