ADVFN PLC (LON:AFN), the financial information provider, was 6.1% firmer at 69.5p after a trading update.
The company expects to report revenue of about £9mln for the year to the end of June, up from roughly £7mln the year before. Profit before tax is expected to be not less than £1.6mln, compared to a loss the previous year of £349,000.
As a result of the much-improved financial performance of the group and the year-end gross cash balances of some £1.8mln, the board intends to start paying dividends.
2.35pm: Ultra Electronics lifts guidance
Ultra Electronics Holdings PLC (LON:ULE) improved 3.8% to 2,390p after it said trading has been ahead of expectations in the six months to 2 July.
The engineer said its order book continues to grow and is significantly ahead of last year, while orders for the full financial year are expected to be well ahead of 2020, driven by Maritime, Intelligence & Communications and Forensic Technology.
The FTSE 250 group added that half-year group revenue has been robust, while the disruption caused by COVID-19 in the Maritime SBU division has been resolved.
1.40pm: Taylor Maritime off to flying start as a listed company
Taylor Maritime Investments Limited (LON:TMI) hardened 6.4% to 1.16p after its first trading update as a listed company.
The specialist dry bulk shipping investment company, which listed on 27 May, said it has been able to take full advantage of the improving market conditions in the Handysize and Supramax bulk carrier segment.
“The material upward movement in our valuation reflects the sustained improvement in charter rates and is proof of the strong investment rationale for acquiring high-quality second-hand vessels at this point in the valuation cycle. We continue to be able to buy at our target prices and will seek further compelling opportunities to both purchase vessels and lock in future fleet earnings at attractive levels," said Edward Buttery, the chief executive officer of Taylor Maritime.
12.45pm: BATM bags order from existing customer
BATM Advanced Communications Ltd (LON:BVC; TASE:BVC) shot up 6.2% to 97.7p on the back of contract news.
The technology company said it landed a US$10mln order from an unnamed but long-standing government defence customer which is taking an advanced cybersecurity solution. Delivery will begin immediately and is slated for completion in 2023.
The client will receive both hardware and software capable of handling large volume high-speed network traffic combined with elements of virtualisation protection developed under the group's Network Function Virtualisation (NFV) offering.
11.50am: TekCapital lifted by distribution deal for one of its portfolio companies
Tekcapital PLC (LON:TEK) rose 11% to 17.75p after it flagged progress at Lucyd, one of its portfolio companies.
The UK intellectual property investment group said Lucyd’s US operating company, Innovative Eyewear, has signed an exclusive purchase and distribution agreement with 8 Points Inc, a subsidiary of Marca Eyewear Group Inc . a leading Canadian distributor that provides high-end spectacles for optical stores and eye care professionals.
This agreement sets out a minimum purchase requirement of US$4.6mln worth of Lucyd Lyte e-glasses over 30 months, to maintain retail distribution exclusivity in Canada.
10.55am: Morrisons trades above the agreed takeover price
The agreed bid for Wm Morrison Supermarkets PLC (LON:MRW) announced on Saturday has sent the shares 11% higher to 266.9p, well above the 254p takeover price.
The terms value Morrisons at £6.3bn, although any successful bidder would also take on Morrisons’ debt of £3.2bn.
The City appears to be betting on a rival bid emerging. Apollo Global Management has already confirmed it is in the preliminary stages of evaluating a possible offer for Morrisons.
10.00am: UK Oil & Gas slumps after heavily discounted placing
UK Oil & Gas PLC (LON:UKOG) shares were on offer, down 24% at 0.1825p, after the company placed shares at 0.18p.
The company raised around £5mln from the share placing. The money raised will fund the company’s remaining share of the Turkey Basur-3 appraisal well’s drilling, completion and testing costs plus the planned two-dimensional seismic data acquisition costs.
UK Oil & Gas said existing shareholders will get the chance to buy at the same discounted price through an open offer that will raise no more than £5mln.
9.05am: Intercede buoyed by record quarter for customer additions; Eden Research blooming after product approvals
Intercede Group PLC (LON:IGP) jumped 14% to 116p in early deals on the back of a record number of new customers signing up.
The digital identity specialist said six new customers signed up in the first quarter of its fiscal year, generating more than £600,000 in revenues, most of which will be recognised in the current fiscal year.
Building on the launch of the Connect Partner Programme in February 2020, new and enhanced relationships have been formed via both technology partnerships with organisations such as Aware, Yubico, Utimaco, Primekey, Sailpoint, Feitian, Authentrend, GoTrustID and Entrust as well as reseller partnerships, including but not limited to CertiPath, Altron, Guidehouse, Expisoft, eSysco, ASKON, Cryptas, WidePoint, TSM and Nevo Technologies, it added.
Eden Research PLC (LON:EDEN) climbed 8.6% to 11.4p after it received first approvals for products in Morocco and Romania.
The approvals have been received for bionematicide Cedroz and bio-fungicide Mevalone respectively.
Sign-off in Morocco covers Cedroz’s use on tomatoes and cucumbers.