Computer software company Bytes technology was leading the FTSE-250 this morning in a move that coincided with an announcement that JP Morgan now held more than 5% of the issued stock. That’s predominantly through a series of cash settled equity swaps that expire in small lots for some time yet, but it seems to have given markets something to embrace on a day that is otherwise looking somewhat subdued. The Bytes Technology share price was up 5% at the open although started to give back gains quickly.
The small cap, Australian focused Gold Miner Wishbone issued an update this morning on its Red Setter project noting a series of Gold-Copper mineralisations had been found along a 4km seam, adding that a fully funded drill programme was also in place for the coming months. Despite the positive theme of the note, it appears that at least some investors had been hoping for more and the Wishbone Gold share price is down 33% in early trade.
A trading update from marketing research company System1 Group was issued this morning, noting that a strong first half was positioning the company well for record H2 revenues and a return to profitability in FY27. Management remains comfortable with consensus revenue forecasts for FY27 but now expects adjusted EBITDA to be materially ahead of current projections, with an Adjusted EBITDA margin of no less than 15% and the opportunity for further margin expansion as revenue scales. The System1 share price was 20% higher approaching 9am.
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Circular re proposed change to investment policy - - Scottish Mortgage Inv Trust (SMT)
