Despite little in the way of corporate news as the summer lull sets in the FTSE100 is holding on to recent gains which have pushed it beyond 6,900. Click here for the Trader Nicole Elliott's latest thoughts on the markets.
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It’s the start of a new era for Restaurant Group (RTN). Not that Danny Breithaupt’s tenure as chief executive lasted all that long. Mr Breithaupt joined the company as far back as 2001, but took over the top job in September 2014. But since that point, the group’s share price has lost a significant amount of value, down 40 per cent alone just year-on-year, which has forced the board to re-evaluate its options. In short, Mr Breithaupt is out and Andy McCue - former chief operating officer and interim chief executive at Irish gambling group Paddy Power - is in. The shares have responded well to the news, up 10 per cent in early trading, so we’re hoping recovery is on the horizon. Buy.
Building products specialist Epwin (EPWN) has issued a brief trading statement saying that it continues to trade in line with the board’s expectations despite added uncertainty following the referendum result. We maintain our buy rating.
Property company Palace Capital (PCA) has agreed the sale of a property in Stoke on Trent to private buyers for £1.086m. Buy.
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Shares in breeding and genetics specialists Genus (GNS) fell 11 per cent after the company announced verdicts at the US district court to the extent that its bovine division, ABS, had breached confidentiality agreements with a third party, Sexing Technologies. The jury further found that ST’s patents were valid, and had been infringed.
The board of Speedy Hire (SDY) has issued a circular to shareholders detailing why it is rejecting calls from shareholder Toscafund to seek a combination with HSS Group (HSS).
