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Prices & Quotes - UK Markets - Gresham Technologies (GHT)

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Share Price:
172.00p
Change Today:
0.000p
Market Cap:
£143.39m
Sector:
Software & Computer Services

London close: London follows Wall Street higher

Date: Wednesday 01 Apr 2009

  • Market Movers
  • techMARK 1,153.83 +1.17%
  • FTSE 100 3,955.61 +0.75%
  • FTSE 250 6,541.02 +2.62%

LONDON (ShareCast) - Better than expected US manufacturing data lifted Wall Street, which in turn prompted a brisk recovery by London where the morning’s losses on the Footsie were more than cancelled out.

Miners responded to the better-than-feared US manufacturing activity figures, with strong gains seen on Xstrata and Kazakhmys, though the sector’s two giants, BHP Billiton and Rio Tinto remained marginally lower on the day.

Mining giant Rio Tinto announced that China’s state-owned aluminium group Chinalco has received approval from the German Federal Cartel Office for its proposal to enter into a strategic partnership with Rio. The partnership, a $19.5bn fundraising deal announced in February, would bring Chinalco’s stake in Rio up to 18%.

Retailers were also wanted with Home Retail and Next the picks of the top tier while among second-liners DSG International, Debenhams and Burberry sparkled.

Engineer and construction firm Balfour Beatty tracked higher after winning two major road contracts worth about £300m.

Telecoms titan BT made a fighting recovery after being downgraded to ‘sell’ from ‘neutral’ by Goldman Sachs. The shares recovered all of the morning’s losses and more, despite Goldman Sachs predicting a suspension of the company’s dividend as BT tries to ‘shore up an over-leveraged balance sheet and pay down a forecast £8bn (gross) pension liability.’

In contrast, Goldman gave the thumbs-up to mobile phone giant Vodafone, adding it to its conviction ‘buy’ list. The stock also receives support from Morgan Stanley, which has upgraded it to ‘overweight’ from ‘equal weight’.

Goldman Sachs also turned its attention to oil giant BP, which fell back after the US bank downgraded it from ‘neutral’ to ‘sell’. Sector peer Royal Dutch Shell was also in the red on rumours of a placing of almost 11m shares being handled by Morgan Stanley.

Shire was the worst performing blue-chip, with investors banking profits following yesterday’s sharp rise in the wake of the co-promotion agreement in the US with Glaxo.

Car catalyst provider Johnson Matthey's trading in the three months to 31 March has been in line with expectations, though sales were lower due to the drop in demand for catalytic convertors as car sales slide and lower platinum group metal prices.

Support services giant Capita could be forced to sell all or part of recent acquisitions IBS OPENSystems after the Competition Commission ruled the deal could be damaging. In a provisional ruling, the Commission said the deal could damage competition in the market for the supply of revenues and benefits software to local authorities in the UK.

Among FTSE 250 stocks transport stocks were the things to own on rumours that they could be allowed to renegotiate their franchise agreements in view of declining passenger numbers. National Express added almost a quarter to its overnight value while Arriva and Stagecoach were not far off posting double-digit percentage gains.

Troubled sub-prime lender Cattles's provisions for bad debts could nearly triple to £1.1bn, a review undertaken by accountant Deloitte has provisionally estimated. It has originally set aside £400m, but Delotitte says another £700m is definitely needed with another £150m also likely.

Restaurant chain Carluccio’s revenue in the 26 weeks to 29 March rose 14% over the same period last year. The group said it responded to consumers' search for value by running a series of promotions during January and February. ‘We always run promotions in January because it is quiet month,’ the company told Sharecast, adding ‘we just went a little further this year.’

The private equity group considering a bid for insurance software group Innovation has ended its interest. It had mulled an offer at a price of 15p per share, but today CETP announced that it is no longer considering making an offer.

A rapid downturn in the diamond market resulted in Gem Diamonds falling into losses in 2008. The miner has announced a share placing to raise £75m to meet debt commitments amid continuing declines in the market.

Shares in molecular diagnostics firm Osmetech rose after it confirmed that it has signed a five-year US distribution agreement with Fisher HealthCare for its eSensor XT-8.

Plant hire specialist Speedy Hire has agreed a revised £300m banking facility that extends to June 2012 which it says gives its ‘prudent levels of headroom.’

Software house Gresham Computing surged after announcing a new contract with a global banking group for the provision of software, services and support in respect of its cash management, payment gateway and cash reporting capabilities.

Engineer Lupus Capital plummeted as it warned it had breached a bank covenant and triggered a default on part of its borrowings.

Shares in CMR Fuel Cells soared after the developer of fuel cells for portable electronics applications said it had successfully demonstrated the first prototype of its hybrid fuel cell power supply system to a leading Asian original design manufacturer.

The launch of a new product range targeting healthcare providers with different time and temperature based solutions gave Timestrip a lift. The company said the Whittington Hospital in London has placed an order for six months worth of its TimestripIV product.

Eurasia Mining moved ahead after an exploration update revealed the definition of two mineralised zones with the potential to form an open pittable resource at Monchetundra in the Kola Peninsula, Russia. It also announced the discovery of low grade platinum group metals (PGMs) at Volchetundra which suggests the discovery of a new zone.

Insurance broking and financial services business Brightside is upbeat after boosting profit from continuing operations by 182% in 2008 to £6.2m on revenue up 42% to £33.2m.


FTSE 100 - Risers
Xstrata (XTA) 510.50p +9.37%
Home Retail Group (HOME) 242.25p +7.79%
Next (NXT) 1,410.00p +6.50%
Old Mutual (OML) 55.20p +6.36%
Barclays (BARC) 157.00p +6.08%

FTSE 100 - Fallers
Shire Plc (SHP) 833.50p -3.42%
Inmarsat (ISAT) 476.00p -2.71%
Royal Dutch Shell 'A' (RDSA) 1,532.00p -2.48%
BP (BP.) 461.00p -2.23%
Reed Elsevier (REL) 491.00p -2.00%

FTSE 250 - Risers
DSG International (DSGI) 26.00p +25.30%
National Express Group (NEX) 187.00p +23.23%
Enterprise Inns (ETI) 78.00p +15.13%

FTSE 250 - Fallers
SEGRO (SGRO) 17.75p -21.98%
Jardine Lloyd Thompson Group (JLT) 420.25p -4.16%
Henderson Group (HGG) 78.75p -3.37%

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

GHT Market Data

Currency UK Pounds
Price 172.00p
Change Today 0.000p
52 Week High 176.50p
52 Week Low 132.50p
Volume 8,037
Shares Issued 83.36m
Market Cap £143.39m
Beta 0.32

Performance Indicators

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Operating Margin
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GHT Dividends

  Latest Previous
  Final Final
Ex-Div 15-Apr-21 09-Apr-20
Paid 20-May-21 21-May-20
Amount 0.75p 0.75p

Trades for 03-Dec-2021

Time Volume / Share Price
09:52 5,753 @ 172.86p
08:03 2,284 @ 172.87p

GHT Key Personnel

CEO Ian Manocha