London offices owner and operator Workspace issued a first quarter trading update this morning, which highlighted falling occupancy rates and news of more office vacations to follow. The company is rebalancing its portfolio to leverage what it knows about strategic fit, but there are also questions flagged over financing with some dent maturing this year and the hoped for further softening of interest rates at the Bank of England looking less likely again in light of this morning’s inflation news. In early trade, the Workspace Group share price was down just over 1%
There was a Q2 production update out from the mining giant Rio Tinto, headlining with news of the company’s copper production. That’s up 13% against the same period a year ago with full year output set to be at the top end of the previously offered guidance. Elsewhere it was a mixed bag, but arguably nothing too troubling and the rampant gains seen by underlying copper prices should win out. Whilst geopolitical risk was also cited, the consensus here was that the situation is now in a de-escalation phase which again ought to be seen as a positive. Shortly after the open, the Rio Tinto share price was around 2% higher.
A boardroom reshuffle has been announced by the clinical stage biotherapeutics company PureTech Health this morning. The CEO has stood down, replaced by the former Chief Portfolio Officer of the business. Having fared well off the back of the pandemic which occurred around half way through the former CEO’s tenure, the stock has been struggling since then. The PureTech share price did dip. In early trade before recovering by 8.30am.
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Final Results - - Cohort (CHRT)
