The polymers company Victrex has been left propping up the FTSE-250 in early trade following the publication of a trading update this morning. Volumes and average selling prices were both depressed, with the result that revenues struggled. A marked improvement was reported in January with volumes for the first four months in line with the comparative but the prospect of a weaker H1 seems to have tipped sentiment against the company. The Victrex share price was trading almost 6% lower shortly after the open.
The FTSE-250 listed investment vehicle HgCapital Trust issued a trading update this morning. This notes a NAV of 561.9p per share, which was a material premium to last month’s typical prices and the stock was further rattled by the recent shake out in AI valuations. There is some cheer to be had however as management also announced it would now initiate a previously agreed share buyback in a bid to narrow the discount. The HgCapital share price was up more than 6% in early trade.
The investment trust focused on assorted commodities stocks issued a trading update this morning. The sector has obviously been in the midst of a volatile period, but the notes cites a NAV of 152.2p per share against a current price of just over 100p. Given the trust is already trading around multi year highs and there’s concern that a further pull back in precious metals prices could be seen, volatility is likely to persist. The share price was up as much as 10% shortly after the open but approaching 9am had given back most of the gains.
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