The data analytics and consulting company GlobalData published a multi-faceted note to the market this morning ahead of an investor event. Highlights included launching a £10m share buyback and the fact that its plans to migrate from AIM to the main London market remain very much on track, serving another blow to the junior board. The GlobalData share price was trading more than 4% higher shortly after the open.
Significant gains for the investment advice company Walker Crips this morning after PhillipCapital tabled an all cash offer for the business. The proposal of 14p per share represents am 87% premium to Friday’s closing price and the company’s directors have noted that their intention is to recommend the deal to shareholders. The Walker Crips share price was up 69% in early trade.
Big losses for the creative solutions agency M&C Saatchi this morning following news of a trading update. The lengthy US government shut down has caused problems for the company with work from this major client having been suspended during the period. Whilst the client relationship remains in place, the income opportunity related to the shit down period has been lost and that means full year results are now set to come in below previous expectations. Management do note that the strength of the balance sheet should allow a buyback of at least £5m to be undertaken this year despite wider macroeconomic woes, but the M&C Saatchi share price was down 11% by 8.30am.
Most read news on Investegate this morning
Recommended Cash Offer for Walker Crips Group PLC - - Walker Crips Group (WCW)
Statement regarding proposal for Anglo American - - BHP Group Limited NPV (DI) (BHP)
