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FTSE100 up 30, Immedia soars on BT radio deal

Published: 12:50 24 Apr 2015 BST

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Move over Capital and BBC Radio 1 there’s a new favourite radio channel getting to Openreach workers around the country. 

Immedia (LON:IME) announced an impressive first client to its new mobile streaming platform: BT (LON:BT.A).

BT is introducing its own radio service: The Openreach radio service, more snappily known as Reach 365 to the 33,000 strong workforce through dashboard mounted mobile devices.

The telecom giant has signed a year-long deal for the supply of an interactive 24/7 digital radio channel.

Reach 365 will be streamed directly into the company's canteens, offices and telephone exchange buildings and has the capability to become an app for mobile phones should BT wish.

Bruno Brookes, CEO of Immedia, said: "We are very pleased to be working with the team at Openreach, who truly understand the importance of engaging employees and the value this creates.”

“Our platform has been designed to enable large organisations to engage 'hard to reach' audiences, sharing music, keeping them informed on relevant developments and allowing them to participate and interact from remote locations.”

Immedia shares jumped 44% to 23p making it the biggest riser of the day. BT shares were also 1% higher to 468p.

On the FTSE 100, HSBC (LON:HSBA) led the index higher after the bank stunned the City by saying it could move its HQ elsewhere. 

Shares in the company rose 3% to 630p while the index rose 30 points to 7,081.

BAE (LON:BA) was also a big riser, more than 2.8% to 518p, after the defence specialist said it had receive numerous enquiries for its US man-power division.

Pharma giant AstraZeneca (LON:AZN) was the index’s biggest faller after the company reported lower like-for-like first quarter revenue. Shares eased 3% to 4,681p.

Meanwhile, LegoLand owner Merlin Entertainments (LON:MERL) fell near the bottom of the FTSE 100 after a downgrade from JP Morgan. Shares eased 1.9% to 445p.

Elsewhere, High street fashion house French Connection (LON:FCCN) announced first half and full year profits will be well below previous expectations. Shares plummeted more than 20% to 41p making it one of the day’s biggest fallers.

In small cap news, Speciality pharma group Clinigen (LON:CLIN) said it will pay £225mln to acquire Idis Group.

The deal that will create a new market leader in the ethical unlicensed supply of medicines. Shares in Clinigen jumped 8% to 570p.

There were similar gains for IronRidge Resources (LON:IRR) as it said it has £8.2mln to fund further exploration and has already highlighted potential targets. Shares jumped 10% to 5.8p.

Broker Westhouse remains a buyer of CloudBuy (LON:CBUY) with a target price hike as it named ASME and Visa AP as its partners in Singapore e-commerce marketplace. Shares rose 1.2% to 30p.


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