Q3 earnings from the telecoms giant BT received a warm reception from the market despite management identifying some weakness in the reporting period. Revenues were 4% lower, adjusted EBITDA dipped 1% and losses from the sports joint venture took a material toll on profitability. Regardless, BT shares were trading up more than 2% in early trade.
The technology provider to the gaming industry issued its full year trading update, noting a strong performance in the second half of the year, with the result that adjusted EBITDA is now expected to be at least EUR195m, significantly ahead of current analyst forecasts. There’s also optimism that momentum from the US market in Q4 is being carried into the new financial year. The Playtech share price was up more than 6% shortly after the open.
The £200m AIM listed miner who is focused on restarting a Tungsten project in Devon has this morning initiated a funding round. It’s being undertaken at a 10% premium to the 30-day VWAP share price – but a 40% discount on last night’s close. The shares have had a strong couple of weeks and funds raised will be used to derisk the Devon project whilst also meeting additional working capital needs. The stock initially started down as much as 30%, but in a move that could bolster confidence, gained quickly to be just 16% lower by 8.30am.
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