Retirement property expert McCarthy & Stone (MCS) shocks the market with a different message about trading since the Brexit vote versus the mainstream housebuilders. Its shares fall 12% to 184.45p after noting fewer reservations since the end of June and higher cancellation levels.
This has negative read-across to other housebuilders with shares in most of the sector falling by 2% to 3%. Berkeley (BKG), Bellway (BWY), Taylor Wimpey (TW.), Galliford Try (GFRD) and Persimmon (PSN) see the biggest declines.
Ibstock’s (IBST) former private equity owner Bain Capital has sold a 10% stake in the brick maker at 175p, representing a 6% discount to last night’s closing price. It still owns 37% of the business.
Transport operator Go-Ahead Group (GOG) advances 5.7% to £21.11 as full year results come in ahead of management expectations. Notable highlights include bus passenger growth in the second half of the year and record passenger numbers in its rail division.
Payment group Eckoh (ECK:AIM) dives 23.5% to 37.5p on a profit warning linked to changes in pricing structure and cost over-runs on a large professional services project.
Online fashion retailer ASOS (ASC:AIM) dips 1p to £45.61 despite putting litigation in the rear view mirror. It is paying £20.2 million to settled trade mark disputes with Swiss cycle wear maker Assos and German menswear retailer Anson's.
Investors aren’t impressed with Lifeline Scientific’s (LSIC:AIM) plans to merge with Shanghai Genext Medical Technology. Lifeline shareholders will get $4.083 cash per share at the point the deal closes. Current exchange rates equate to 312p per share, a mere 0.7% premium to last night’s closing price. The share price has fallen 10% to 278.5p on the news as some investors jump ship.
Mobile marketing group Proxama (PROX:AIM) shoots up 28.6% to 0.68p after being certified by Google as an approved service provider.
ESW Capital has made a takeover approach for Bond International (BDI:AIM) although there is no detail on pricing, timing or structure of deal. Bond, whose shares rise 5.1% to 114.5p on the news, received a 105p per share takeover proposal from Toronto-listed Constellation Software earlier this year.
Bizarre announcement of the day award goes to oil services group Thalassa (THAL:AIM) which says it will invest £400,000 on tiny gold and copper explorer Papua Mining (PML:AIM). Shareholders don’t seem happy as Thalassa’s stock falls 7.6% to 39.5p.
