Trinity Mirror, DX and Centamin

“Blue-chips nudged lower at the start of the week with ongoing discontent among major business leaders over the pace of Brexit negotiations weighing on sentiment,” says AJ Bell Investment Director Russ Mould.

“Trinity Mirror’s shares edged higher despite a steep drop in third-quarter revenues. The group remains bullish about its full-year prospects and while like-for-like revenues were down by 8% in the quarter, this was a slight improvement on the 9% fall in the first half. The group has seen improving trends in nationally-sourced print advertising revenues but the outlook for local advertising, and particularly classified, remains challenging and volatile. Trinity Mirror’s shares were up by over 0.4% in early trading.

“Parcels and logistics group DX’s shares jumped after it agreed a £24m fundraising. The cash injection is time critical with the group facing a £1.8m profit hit following an accounting error over lease incentives. The new funds will come from secured loan notes with conditional conversion rights with four proposed directors subscribing for £5.25m. The group’s shares were up by more than 13.5% in early trading.

“Gold producer Centamin was an early riser after it achieved record quarterly production from its Sukari mine in Egypt for the three months to the end of September. Centamin produced 156,533 ounces - a 26% increase on the previous three months and 5% higher than a year ago, which was the previous record quarter for Sukari. Centamin remains on track to meet its target of 540,000 ounces for the year. Centamin’s shares were up by over 2.2%.”

These articles are for information purposes only and are not a personal recommendation or advice.