FTSE 250 was trading up 0.6% to 20,726 whereas the AIM market was trading down marginally by 0.1% to 1,031 on Tuesday.
National Express shares soared 10% to 247p as the transport company reported in its latest trading update that its revenues climbed 30% and have jumped back to pre-covid times.
Hochschild Mining shares rose 0.8% to 121p after the company announced that it was on track to meet its 2022 targets in its Q1 production results.
Diversified Energy acquired 5 new assets in East Texas which resulted in the group’s shares gaining 1.7% to 115p.
Abdn Private Equity Opportunities Trust gained 4.8% to 526p as the company reported to increasing its NAV in Q1. Net asset value per share climbs by 4.7% to 705.2p from 673.8p the quarter before.
Elementis in its AGM announced a strategic update regarding the possible divestment of its Chromium business, which lead shares to drop 0.8% to 120p on Tuesday.
IWG shares tumbled 6.5% to 237p as the company announced in its trading update that it had to invest faster than initially expected to meet the needs of the office market which has been “irrevocably changed by the pandemic”.
PureTech Health shares declined 1.5% to 188p despite the company presenting continued advancement and growth in its wholly owned programs in the group’s final results for 2021.
AIM MARKET
Northcoders Group shares flew 23.5% to 315p after the company reported that its revenue more than doubled in 2021, a year in which the provider of training programmes for software coding expanded its footprint. The group’s revenue increased from £1.3m to £3m and its pretax loss decreased from £1.2m to £523,000.
Chariot Oil and Gas shares boosted 9.1% to 21.5p after the Africa-focused transitional energy company names Societe Generale SA as financial advisor to help shore up debt funding options for the Anchois gas development in offshore Morocco.
Origo Partners shares plummeted 33% to 0.07p after the investment company said its shares will be suspended from trading on Thursday, before being cancelled in late-May.
Origo claims that because Arden Partners was acquired by Ince Group, it is no longer eligible to function as the investment firm’s nominated advisor. Origo will have to find a new nomad if it wants to continue trading on AIM.
Origo claims that it has achieved its stated goals, including returning money to shareholders, and that choosing a new nomad is not in the company’s best interests.
Novacyt SA shares declined 14% to 167p after the company reported that the dispute with the UK Department of Health & Social Care is still ongoing.
The UK Department of Health & Social Care issued a £134.6m claim against Novacyt in relation to a contract for the provision of Covid-19 testing kits, initially announced back in September 2020, on Monday.
Touchstar shares tanked 14.3% to 68.5p despite the company reporting positive results with revenue up 3.7%, EBITDA up 25.5%, postax profit up 292% and earnings per share up 290%.
Price Target Changes
Mining company, Ferrexpo shares rose 2.9% to 170p despite JPMorgan cutting the company’s price target from 350p to 340p.
Marks & Spencer shares fell 2.2% to 149p after Deutsche Bank cut Marks & Spencer to ‘hold’ from a buy rating and reduced its price target to 185p from 255p.
Pennon shares gained 1.5% to 1,070p despite Deutsche Bank cutting its price target from 1,260p to 1,120p.
JTC shares increased 1.7% to 770p after HSBC raised the shares to a buy rating and altered its price target from 870p to 900p.
Wood Group shares rose 1.2% to 190p despite JPMorgan reducing its price target to 285p from 290p.
Jefferies cut Ibstock’s price target to 195p from 217p, however, Ibstock shares gained 1% to 180p.