Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Tekcapital: strong portfolio company update
Tekcapital LON:TEK has provided an update on its Belluscura portfolio company of which it owns 11%. Highlights include the securing of £8m in growth capital to meet recent order demand that could top $85m, approval to sell its portable oxygen concentrator in Hong Kong and news that orders for its DISCOV-R kit have now exceeded 10,000 units with a potential sale value of more than $30m.
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#2. Imperial Brands trading statement shows significant cash returns
There’s a trading statement out from Imperial Brands LON:IMB noting performance remains in line with expectations. Momentum is building behind next generation products and total capital returns to shareholders this year are expected to be in the region of £2.4bn – around 17% the company’s market cap. Perhaps unsurprisingly given how small the market is, there’s no reference in the note to plans to ban the sale of tobacco in the UK.
#3. WANDisco ticker replaced
WANDisco rebranded at the start of last month as Cirata [LON:CRTA] as it attempts to distance itself from accounting issues. The company has this morning advised that it will now trade under the CRTA ticker code, rather than WAND.
