FTSE-250 listed engineering company Renishaw saw its shares surge this morning following the publication of its Q3 trading statement. Management acknowledged that the US import tariffs would affect the company although news breaking overnight suggests that an announcement by the government over a trade deal is now imminent. Good momentum has also enabled the company to adjust full year guidance with the range for adjusted pre-tax profits being tightened. The Renishaw share price was around 10% higher in early trade.
There has been a significant drop in the Playtech share price after the gambling software development company made a significant return to shareholders. That follows the company’s sale of Italian gambling operation Snai to Flutter, resulting in a EUR 5.73 per share special dividend being repaid to investors. The Playtech share price was down 61%, but this simply reflects the scale of the cash return.
Some big losses for Centrica, the owners of British Gas, who released a pre-AGM trading statement this morning. This saw the company striking a downbeat tone with warmer weather and concern over tariff woes being cited, so despite the promise of a significant dividend hike, investor sentiment remained cool. Challenging market conditions in gas and power also saw the company caution that profits at its logistics unit would be at the lower end of previous guidance. The Centrica share price was trading more than 7% lower before 9am.
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