The FTSE 100 reached a new high this morning, hitting 7598.99 at one point. The fall in sterling is helping companies deriving their income largely from abroad. Strong economic data coming out of the US is also aiding global stocks and virtually all markets are trading higher.
Project management firm WYG (WYG:AIM) enjoys a 10.3% share price rise to 105p as it announces a new contract win. The company has been awarded two major new framework contracts with UK government agencies and a significant new contract in Africa in its international development market. Together, these deals are estimated to be worth approximately £50m to WYG over the next three years.
Mobile financial solutions company Vipera (VIP:AIM) sees its share price rise by 8.3% to 6.3p as it announces a deal with Bankart. This will allow Vipera access to 26 banks in South Eastern Europe initially providing a mobile wallet and payment solution but Vipera will add to this offering shortly.
Metro Bank (MTRO) has boosted its mortgage book with a £597m acquisition of private equity house Cerberus’s UK mortgages. The bank is buying the portfolio at a discount to the loans face value as it attempts to stay on target to meet its ambitious three year profit target. Metro Bank's share price is up 1.53% to £37.76 on the news.
Satellite communications company Inmarsat (ISAT) has won its first major airline for its Global Xpress (GX) inflight broadband network, with Qatar Airways signing on. The deal will initially be rolled out across more than 130 aircraft, with more to be retro-fitted in future. That sends shares in the UK company initially running 1.7% higher, although a second announcement, that Inmarsat has committed £130m to a new satellite for its GX network, to be built by French engineer Thales, ends up dragging those gains back, the stock now flat at 843.5p.
