Futura Medical (FUM) slumped after deeply discounted fundraise
Shares in Futura Medical were sharply lower after the
healthcare company unveiled a £1.6 million fundraising priced at 0.2p a share
and launched a formal sale process alongside a broader strategic review. The
company said the cash injection would extend its runway into February 2027
while it explores potential corporate transactions and options for its
portfolio, including WSD4000.
The market focused on the dilution implied by the placing
price, with Futura shares down during Thursday trading.
Crest Nicholson (CRST) edged lower despite debt progress
Crest Nicholson slipped after issuing a trading update which
highlighted better-than-expected debt reduction but weaker summer trading
conditions. The housebuilder said year-end net debt should come in at £70
million to £90 million, an improvement of around £30 million on previous
guidance. However, it also reported softer sales rates over the last six weeks
as affordability pressures and competitive pricing continued to weigh on
demand.
The stock fell as the downgraded trading backdrop offset the
improved balance sheet outlook.
Watches of Switzerland (WOSG) held steady after
reaffirming guidance
Watches of Switzerland was little changed after an AGM
trading update showed encouraging momentum across both the US and UK markets.
The luxury watch retailer said trading during the first 17 weeks of the
financial year remained consistent with the positive trends outlined at its
annual results, with strength across luxury jewellery, certified pre-owned
watches and ecommerce. The group reiterated full-year guidance for revenue
growth and margin expansion.
With no material change to expectations, the shares were
broadly flat in early dealings.
