The medical technology firm Smith & Nephew found itself at the top of the FTSE-100 this morning after the publication of a TR-1 filing which is a required disclosure when a party builds a stake of more than 3% in the business. This is the second such release filed in two days and concentrated investments like this especially in a large cap company can sometimes be seen as suggesting a takeover approach is looming. Shares were more than 6% higher an hour into Thursday’s trade.
Distribution Finance Capital Holdings
DFCH is a specialist bank which provides working capital to manufacturers across the UK. The publication of a half year trading update has caught the eye of the market with loan origination up 17% year on year whilst despite the tough macroeconomic backdrop, balances in arrears as a percentage of the overall loan book continue to decline. As a result of the underlying momentum, profit forecasts for the half year are being upped significantly, with these numbers due for release in September. Shares were up more than 25% in early trade.
FTSE-250 firm Spectris, the precision measurement company, is faring well today. After a disappointing trading update last month, shares have jumped on news that they are to acquire SciAps for £157m plus a deferred payment of up to an additional £47m. SciAps expects to deliver sales of £55m this year and the combined entity is set to generate synergies of around £5m, driving future growth for the business. Shares were a little over 3% higher shortly after the open.
Headlines tomorrow will understandably be dominated by the General Election result.
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e-therapeutics announces completion of fund raise
