UK drugs giant GlaxoSmithKline (GSK) falls 1.5% to £16.08 as the Serious Fraud Office launches a criminal investigation into several bribery allegations made against the group’s international business.
Glasgow engineering firm Weir Group (WEIR) falls 1.6% to £25.63 as it abandons a merger with Finnish rival Metso (MEO1V:HSX) after an improved offer was rejected. Weir raised its offer to 0.95 Weir shares per Metso share from 0.84 shares last month and added a special dividend payable to all shareholders in the combined group equivalent to €2.13 per share.
Superb full year results from managed data centres operator Iomart (IOM:AIM) are particularly impressive on cash generation, up 62% to £4 million. Organic revenues improve 14%. The shares rise 3.7% to 252p, modest progress so far our Shares Play last month at 245p.
Posh apartments builder Telford Homes (TEF:AIM) adds 2.2% to 297.5p after the housebuilder's final results revealed that profit before tax more than doubled to £19.2 million in the year to 31 March 2014.
Agricultural services and inputs group Origin Enterprises (OGN:AIM) edges up €0.01 to €7.78 after raising full-year earnings guidance by 3% to €55 cent. This follows a good performance in the seasonally important third quarter to April, during which sales grew 13.2%.
Bombed-out Chinese orange plantation owner Asian Citrus (ACHL:AIM) cultivates a 2% gain to 13p. Bargain hunters are picking up stock after broker Cantor Fitzgerald upgraded its recommendation from 'hold' to 'buy' and price target from 22p to 26p in a note yesterday.
Office and industrial real estate investment trust McKay Securities (MCKS) improves 1.3% to 221.5p on a positive outlook thanks to rising demand in London and the South East mixed with limited supply. This follows a disappointing year for the group, which saw its net asset value fall 4.6% to 227p, although it hiked its dividend 1.7% to 5.9p.
Private client wealth manager Brewin Dolphin (BRW) slips 0.5% to 303p despite today’s reassuring interims. The company’s operating margin improved to 20.3% in the half-year period and towards management’s 25% target. We recently updated on our Rathbone Brothers (RAT) Play.