A bumper start to the week’s final session for AO World, the online white goods supplier. Shares jumped after the company issued a post-close full year trading update highlighting that the already revised profit expectations had been met, whilst revenues were some 11% higher. Despite the gloomy perspective that pervades over the UK economy, consumers still need to replace vital pieces of household kit. The AO World share price was up 6% shortly after the open.
Fund manager Impax issued a Q2 AUM update this morning which saw headline numbers down 8% and the company cautioning that further reductions would be seen as the fall-out from the Impax Environmental Markets plc exit tender was felt. Management pointed out that despite market turmoil, 63% of its AUM outperformed, but shareholders have been quick to mark down the performance here. The Impax share price was down almost 22% in early trade.
It’s been a quiet end to the week for corporate news so this story would typically not register but Quantum Blockchain was one of the biggest fallers on Friday morning. The company issued an update on two legal cases this morning where cash settlements had been due. In one instance, EUR132k is now expected by the end of June, but a largest EUR6m+ payout has been stayed owing to legal complications. The Quantum Blockchain share price was down 13% by 8.45am.
Most read news on Investegate this morning
CLOSING OF FUNDRAISE OF £12.5 million - - Mkango Resources (MKA)
Trading update and Q1 fund valuations - - Unite Group (UTG)
Financial Adviser & Corporate Broker Appointment - - Unite Group (UTG)
