Construction group Balfour Beatty (BBY) edges 1.6% higher to 241p despite rejecting a new merger proposal from long-time suitor Carillion (CLLN). Investors are clearly hoping this saga will ultimately result in a deal at a premium to the current terms being offered.
PR and media agency Huntsworth (HNT) jumps more than 12% as half year revenue and profit declines are not as bad as feared. Revenues, after stripping out acquisitions, fall 2.4% if currency movements are factored in, while operating profits fall from £12.4 million to £8.9 million.
Satellites operator Avanti Communications (AVN:AIM) rallies more than 4% to 178.25p as it signs off on contracts to build and launch its fourth HYLAS satellite. It will expand mobile communications coverage across parts of Europe and Africa once it launches in 2017.
European niche non-life insurer Gable (GAH:AIM) improves 4.5% to 81p on boosting its underwriting through a reinsurance partnership with investment giant Warren Buffet’s Gen Re. Financial details have not been disclosed, but the agreement follows a solid year of growth for Gable.
Real estate investment trust NewRiver Retail (NRR:AIM) improves 0.8% to 288.5p on buying shopping centres in Glasgow, Belfast and Hastings for £140.1 million. Annual rents will be 8% of the purchase price.