Qinetiq Group PLC, IG Group Holdings PLC, and Ultimate Products PLC on Monday all announced new share buyback tranches.

Qinetiq, a Farnborough, Hampshire-based defence and security firm, said it completed the second tranche of its £100 million share buyback programme on January 16. Back in November, Qinetiq said it would extend that buyback by £50 million, and on Monday, it said that £50 million additional tranche will be run by Deutsche Numis and completed by June 30.

London-based contracts-for-difference trading platform provider IG Group earlier this month also announced a £50 million extension to its share buyback programme. The IG buyback originally was for £150 million. The £50 million additional tranche will be run by Morgan Stanley & Co International PLC and be completed by June 10.

Ultimate Products, based in Oldham, near Manchester, England, owns a string of homeware brands. It said the fourth tranche of its own share buyback will be worth £2 million. It will be run by Shore Capital and be completed by July 31.

Qinetiq shares were down 0.4% to 371.20 pence in London early Monday for a £2.07 billion market capitalisation. IG was down 1.4% at 1,005.00p for a £3.56 billion value. Both Qinetiq and IG are members of the FTSE 250 index.

Ultimate Products shares were down 17% to 83.75p. It has a £73.5 million market cap. Its shares were knocked after also providing a trading update on Monday, saying revenue was down 5.7% in the first half of its financial year. It also warned of higher costs, due to higher freight rates and National Insurance contributions.

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