Bid speculation lifts aircraft components specialist Meggitt (MGGT) 10.3% to 540.5p. A report in the Daily Mail suggests that US firm United Technologies (UTX:NYSE) could be preparing a 625p per share cash offer. This has sparked panic among short sellers who had recently targeted the firm to are rush to close short positions in the stock.
The London Stock Exchange (LSE) rises 1.1% on the back of a reassuring second-quarter trading statement. Total revenue came in at £299.9 million against RBC Capital Markets’ estimates of £299.6 million. The company, which recently hit the acquisition trail, also flagged ‘good progress’ during the quarter and noted it was entering the ‘seasonally quieter summer period’.
International payments platform provider Earthport (EPO:AIM) jumps more than 8% to 46.5p as it beats full year expectations. Revenue to end June for the running Shares Play of the Week is up 160% to £10.7 million, or 60% higher after stripping out acquisitions.
High-quality carpets manufacturer Victoria (VCP:AIM) falls 60% to 190p as the stock goes ex-special dividend. Following shareholder approval, the Kidderminster-based company has shelled out a £2.92 special payment which sees executive chairman Geoff Wilding's Camden vehicle acquire a 50% stake.
Science and research tools manufacturer Oxford Instruments (OXIG) reports steady trading and good progress with the integration of last year's Andor Technology acquisition. The shares rally close on 4% to £12.48.
Business accommodation provider Workspace (WKP) gains 2.1% to 603p on a positive update for the three months to July. Rents are reported to have increased 4.6% to £2.7 million and the company's development pipeline remains buoyant.
Luxury interior furnishings firm Walker Greenbank (WGB:AIM) rises 3.5p higher to 201p on a confident trading statement. UK sales performed particularly strongly in the first five-and-a-half months of the fiscal year, with brand sales 10.3% ahead in Walker's biggest market. Shares highlighted the improving prospects for Walker Greenbank's UK business in March.