Caledonia Mining, Clarksons and LightwaveRF

“The FTSE100 opened on the front foot following a generally positive session on Wall Street on Friday, as investors around the world appeared to be coming to terms with the ongoing tensions between the US and North Korea,” says AJ Bell Investment Director Russ Mould.

“Caledonia Mining has maintained its dividend guidance despite a sharp fall in second quarter net profits. First half net profits fell to $3,032m from $4,150m but this disguised a severe drop in the second quarter when profits plunged to $694,000 from $3.6m. The results were adversely affected by share-based payments and a higher effective tax rate and the year-ago quarter also benefited from $2.4m proceeds from the sale of treasury bills. The group’s all-in sustaining costs remain under control at $855 per ounce and it is on course to achieve its full-year guidance of between $810 and $850 per ounce.

“Shipping services group Clarksons’ shares edged higher in early trading following a 25% rise in interim pre-tax profits. The group is seeing signs of a rebalancing across some of the shipping markets and remains optimistic about its ability to capitalise on the upturn when it occurs. In the short-term, though, low activity in the newbuilding market and a predominance of spot over longer-term period business continues to limit forward visibility of revenues. The group’s shares were up by 0.04%.

“Smart home solutions provider LightwaveRF’s shares rose after it confirmed that its next generation Apple HomeKit certified product range would be released in early October. The new range is the culmination of an extensive two-year research and development programme and will enable users to control lighting, heating, power and security via apps and voice controls. The products are future proofed by remote over-the-air update capability. LightwaveRF’s shares were up by more than 8.5%.”

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