A lack of corporate news sees the FTSE 100 open broadly flat on Friday morning, falling 12.4 points to 6,855.04.

Gains in the US on hints from the Federal Reserve at a potential interest rate rise later this year did not move the blue chip index. Another rise in the price of Brent crude to above $50 a barrel on further talk of a production freeze also failed to register an impact London in early trading.

The latest riser is digital audio content provider Immedia (IME:AIM), which shoots 26.8% higher to 42.5p on expectations of winning more business to provide radio in the Subway restaurant chain.

The update also carried news of a potential deal with what it has describes as a ‘major’ retailer, potentially replacing the contract with Arcadia, which is due to expire in December.

Diagnostic developer Akers Biosciences (AKR:AIM) rises 5.4% to 242.5p on reaching a settlement with ChubeWorkx, a former distributor of its BreathScan alcohol detector, for a bad debt provision. Akers will get the full $1.25 million back in inventory, cash and retaining royalties.

Elsewhere, rock drilling tool-maker Mincon (MCON:AIM) advances 7.1% to 60p on an upbeat outlook that points to further sales growth resulting from increased market share.

Management also believe that a recovery in the exploration market is on the way thanks to improvements in commodity prices. Pre-tax profits in the six months to 30 June were 11% higher to €5 million, year-on-year.

Public transport monitoring systems 21st Century Technology (C21:AIM) losses almost half its value after diving 47.3% to 1.2p on a warning that it expects to make a ‘significant’ loss for 2016. The microcap blames fewer vehicle orders for its negative outlook.

 


Issue Date: 19 Aug 2016