Johnson Matthey, down 2.7%, along with BP, an international energy company, announced that EDL Anlagenbau Gesellschaft mbH (EDL) has selected their co-developed, award-winning Fischer Tropsch (FT) CANS technology for EDL's HyKero plant located in Bohlen-Lippendorf, south of Leipzig, Germany.
Kier Group, down 4.9%, announced that it has signed a 50:50 joint venture with Mole Valley District Council for the redevelopment of the two strategic sites with a combined area of 10.15 acres/4.1 hectare and are two key projects of 'Transform Leatherhead'.
Frontier Developments, up 22.4%, in its trading update, announced that its existing game portfolio continues to perform in line with expectations, and the Company looks forward to the important November and December trading period, which will include the release of Warhammer Age of Sigmar: Realms of Ruin, Black Friday, and Christmas. The Board remains comfortable with market expectations for FY24, with consensus revenue at £108m and consensus adjusted EBITDA loss of £9m.
Tristel, up 4.4%, in its audited preliminary results for the year ended 30 June 2023, announced that revenues rose to £36m from £31.12m recorded in the previous year. Profit before tax widened to £5.11m from £1.56m. The Board has proposed a final dividend of 7.88p (2022: 3.93p).
Oracle Power, unchanged at 0.03p, in its Q3 update, announced that it has focused on the continued demonstration of its green hydrogen project as a strategically important and commercially attractive new project of internationally significant proportions during the period. Moreover, it has completed 28km2 topography survey report using advanced drone technology to gather vital mapping data, adding that it revealed no significant obstructions to the development of the green hydrogen project. The survey's findings will play a crucial role in optimising the planning, design and construction costs for the proposed future 1.2 GW hybrid wind and solar plants, along with the intended 400 MW green hydrogen facility.
UK markets ended lower last week, amid renewed concerns surrounding further monetary tightening. On the macro front, UK’s GfK consumer confidence index unexpectedly fell to a 3-month low in October, amid higher mortgage rates and rental costs, while the nation’s retail sales dropped more than expected in September, due to warm weather and rising cost of living. Additionally, UK’s house prices rose at its slowest rate since 2008 crash in October. Meanwhile, UK’s consumer price inflation rose more than expected in September, while the nation’s public sector net borrowing deficit widened less than expected in September. The FTSE 100 index declined 2.6% to settle at 7402.1, while the FTSE AIM 100 index fell 0.9% to close at 3236.3. Also, the FTSE techMARK 100 index lost 3.4% to end at 5871.1.
US markets ended lower in the previous week, following hawkish remarks from US Fed Chairman, Jerome Powell. On the data front, the US building permits dropped in September, while the nation’s existing home sales fell to a 13-year low in September, due to higher mortgage rates and tight supply. Meanwhile, the US retail sales advanced for a sixth straight month in September, amid increased purchases of motor vehicles, while the nation’s industrial production rose more than anticipated in September. Additionally, the US housing starts rose in September, driven by rise in demand for new construction, while the nation’s initial jobless claims unexpectedly declined to a 9-month low in the week ended 13 October 2023. The DJIA index fell 1.6% to end at 33127.3, while the NASDAQ index lost 3.2% to close at 12983.8.
