MARKET MATTER: De La Rue leaves FTSE 250 as rising costs affect profits

He literally has a license to print money, but for De La Rue it didn’t matter much after he sounded the alarm, which lowered the stock price by 10.1 percent.

Such was the fall of the banknote printer: it dropped out of the FTSE 250 mid-cap index to be counted among the city’s small fry these days.

De La Rue said its profits would be affected by rising introduction costs, as it also warned of “significant uncertainty in the future”.

Profit Warning: De La Rue banknote printer said her earnings would suffer from rising input costs as she also warned of “significant uncertainty in the future”

“There is a possibility that the failure could affect revenues,” the statement said. Shares, which fell 50 percent last year, passed 10.2 pence less than 99.8 pence yesterday.

FTSE 250 scored 84.22 points and closed at 19,934.04.

Turning to the wider market, the FTSE 100 rose 38.4 points to 7,522.75. Earnings went to Imperial Brands, which rose 3.2 percent, or 56.5 pence, to 1,841.5 pence after Goldman Sachs cut shares in the tobacco firm.

Retailers have struggled over concerns about the cost of living crisis and Marks & Spencer’s warning that shoppers are tightening their wallets.

Tesco fell 1.2 percent, or 3 points, to 255.3 points, Sainsbury’s lost 1.3 percent, or 3 points, to 229.3 points, but Marks gained 4.8 percent, or 6.4 points. closing at 138.65 points.

The big increase for the day came from the world of medical technology with Angle, the creator of a blood test that can detect cancer that has risen 58.4 percent, or 57.5 pence, to 156 pence after receiving the green light from the Office of Food Control and U.S. drugs.

Approval of the parsortix testing system by the regulator heralds a new era of personal cancer treatment on the market, which is estimated to cost more than £ 100 billion.

Stock Clock – Genflow Biosciences

Genflow Biosciences, based in Belgium and the UK, a pioneer in the development of anti-aging drugs, ignored the attractiveness of US markets and in January settled in London, raised 3.7 million pounds.

It makes treatments for a long healthy life and focuses on a protein that responds to stress – Sirtuin 6 – exploring the role it plays in people living to be 100 years old or older.

Yesterday he filed a patent application related to the therapeutic use of protein and its variants.

Share price 4.75 p.

Caspian Sunrise, Kazakhstan’s oil and gas production, rose 41.4 percent, or 1.2 pence, to 4.1 pence, due to an increase of 1,400 barrels of oil to 4,000 barrels per day.

Elsewhere, M&C Saatchi’s acquisition of Next 15 Communications for £ 310 million is “far from over”, broker Peel Hunt said.

The math is interesting and leaves the acquisition well-prepared, as tech entrepreneur Vin Murray, whose previous bid was ahead of Next 15, holds more than 22 percent of M&C, which could eventually become a blocking stake.

The next 15 require 75 per cent of investors to support their deal with cash and shares of 247.2 pence per share supported by the board, so a large turnout of investors is required for the deal to reach the finish line without Murray’s support.

Saatchi fell 1.9 percent, or 4 points, to 206.5 points

Meanwhile, Randall & Quilter’s proposed takeover worth £ 482 million seems to have reached the buffers, and US suitor Brickel said he was leaving as soon as shareholders were about to vote on the deal.

The AIM-listed insurance group said it had received a letter from Brickell Insurance – controlled by Miami Investment Group 777 Partners – alleging that it was violating certain obligations under the terms of the deal.

R&Q said it did not believe it had violated the terms or that Brickel had the right to cancel the offer.

It says it will instead seek the consent of an American firm to raise funds, but shares have fallen 42.1 percent, or 59 pence, to 81 pence.

Morses Club also fell – by 31.1 percent, or 2.5 pence, to 5.55 pence – after being included in the list of companies that pushed results this year. The subprime lender postpones its figures for three months until August.

Drug developer Synairgen fell 24.5 per cent, or 8.52 pence, to 26.3 pence after announcing an increase in operating losses of £ 57.9 million.

Although his lead drug did not meet the goals of the final phase of Covid’s clinical trial, management said further analysis pushed that it could save patients with severe viral lung infections.

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MARKET MATTER: De La Rue leaves FTSE 250 as rising costs affect profits

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