Lloyds Banking Group PLC (LSE:LLOY) shares were on the front foot by mid-morning, changing hands at 51.6p, after the Black Horse bank reported first-quarter profits slightly ahead of expectations, despite lower income and higher costs.
There were no extra charges reported for the ongoing regulatory probe into the motor finance sector.
Guidance for Lloyds’ full year was maintained, with margins expected to tighten further but not enough to prevent further shareholder returns.
ANGLE PLC (AIM:AGL, OTCQX:ANPCY), the developer of liquid biopsy technologies, saw its share price soar some 25% higher as it announced a new partnership with AstraZeneca PLC (LSE:AZN) (AstraZeneca PLC (LSE:AZN)) to enhance cancer drug development by 'leveraging' the former's DNA damage response assay.
"This is ANGLE's second large pharma company agreement of 2024 as we look to drive a significant expansion of the pharma services business," said CEO Andrew Newland.
Filtronic PLC (LSE:FTC) also rocketed higher, up more than 50% to 50.67p, with news that Elon Musk's SpaceX could become a major shareholder in the unheralded microwave technology group. It will supply E-band Solid State Power Amplifier modules for SpaceX's Starlink satellite constellation under a $19.7 million deal.
In conjunction with the strategic partnership, Filtronic will issue a total of 21.7 million warrants to SpaceX. These warrants allow the US group to acquire shares totalling 10% of Filtronic's equity base.
Reckitt Benckiser Group PLC (LSE:RKT, ETR:3RB), up 5.8% to 4,497p, reported revenues in-line with expectations and chief executive Kris Licht said “We continue to benefit from carryover pricing and consumers trading up to our premium innovations.”
The company – parent to the Dettol, Durex, Harpic brands among many others – highlighted volume growth across its so-called ‘powerbrands’.
PZ Cussons (LSE:PZC), up 4% to 98.3p, put its St Tropez tanning brand up for sale and said it is evaluating its options in Nigeria after another tough quarter for the soaps and personal products group.
Warpaint London PLC (AIM:W7L), up 4.89% to 493p, told investors that sales, margins and profits hit a record last year following significant growth in all of its geographical regions. Revenues increased by 40% to £89.6 million in the year to December, the cosmetics firm reported.
Quilter PLC (LSE:QLT), up 4.5% to 107.1p, in a trading update flagged a rise in net inflows of around £1 billion into its wealth platform during the first quarter, taking its assets under £112 billion.
Jet2 PLC (AIM:JET2), down 5% to 1,409p, downgraded its ‘top end’ profit guidance for the year, but noted that it is still ahead of last year and said it has so far sold around 55% of its summer 2024 seats.
Abrdn PLC (LSE:ABDN) share price rose 3%, to 142.8p, after the Scottish asset manager said it saw net inflows of £800 million in the first quarter of the year. This marks a minor reversal from the £6.2 billion in net outflows it experienced during the same period last year.
North Sea oiler Serica Energy PLC (AIM:SQZ) at one point gained around 5%, before easing off to now change hands at 197p, as it reported financial results for 2023, with chair and ‘incoming’ interim chief executive David Latin highlighting a “strong set of results despite significantly lower sales prices compared to 2022”.
The oil executive also criticised the current tax regime for the North Sea, the ‘windfall’ has long gone according to Latin who described the high-tax situation as “ill-suited” to the UK’s mature industry.
Thor Energy PLC (AIM:THR, OTCQB:THORF, ASX:THR) was boosted, with shares up over 9% at one point, as its partner at the Molyhil and Bonya Projects in Australia’s Northern Territory reached a key ‘commitment milestone’, and will now advance to the next phase.
Sound Energy PLC (AIM:SOU, OTC:SNEGF), down 14%, as it released its financial results statement for 2023.