Molten Ventures


Shares in VC firm Molten Ventures surged on Wednesday morning following the publication of full year earnings. Whilst this showed limited progress in terms of gross portfolio value, the NAV remains well above the current valuation of the business and management have also committed to accelerating realisations with the aim of investing in further value accretive opportunities. Shares were trading close on 10% higher approaching 9am.


Legal and General


Shares in the insurer L&G were propping up the FTSE-100 in early trade after the company provided a capital markets update. A strategy overhaul including the merger of the investment management and L&G Capital units along with the departure of CEO have all combined to rattle sentiment. Shares were trading down by more than 3% shortly after the open with the promise of enhanced capital returns in the coming years doing nothing to help either.


Safestore Holdings


Interim results from the storage company Safestore were issued this morning, noting revenues and average storage rates being off fractionally, but there has been a healthy build in free cash. Shares are trading off by more than 4% however with the challenging market conditions and plentiful supply of storage facilities clearly weighing. Management add that they do expect growth in the UK to resume in the second half although EPS for the full year is now seen as landing in the lower half of consensus forecasts.


Headlines we expect on Thursday


Halma Final Results

This time last year Revenue £1.85bn, Adjusted EPS 76.34p, Total Dividend 20.2p


Motorpoint Final Results

This time last year Revenue £1.44bn, Operating profit £6.8m, Basic EPS -0.7p