Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Quantum Blockchain legal claim on hold as defendants appeal ruling
There’s an update on an Italian legal claim. The courts ruled in favour of Quantum Blockchain’s [LON:QBT] subsidiary CL17, but a majority of defendants have sought to appeal the ruling. That’s not expected to happen before the spring, meaning the EUR6.2 million will remain unrealised until at least that date.
#2. ITM Power trading update deferred until next year
A couple of releases from ITM Power [LON:ITM] this morning, the first confirming the departure of CEO Dr Graham Cooley after 13 years in the role. This was already in the public domain, but perhaps more telling is the fact that the trading and strategy update which had been expected next week is being held over until the New Year. With the new CEO coming straight from major shareholder Linde, this next update – when it arrives – will doubtless be closely followed for its effect on the Capita share price.
#3. Capita completes sale of Pay360
Capita [LON:CPI] has confirmed the sale of Pay360 to Access PaySuite, following the completion of regulatory approvals. The sale proceeds are said to be worth £156m and will be used to pay down debt, strengthening the Capita balance sheet as a result. Time will tell how this impacts the Capita share price.