Indivior, Everyman Media and ZPG
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“The FTSE100 confounded forecasts of a nervy start and opened in positive territory despite an indifferent night for Asian stock markets,” says AJ Bell Investment Director Russ Mould.
“Pharmaceutical group Indivior’s shares plummeted after a US court ruling opened the door to the launch of generic competitors to its key product. Indivior will appeal the district court decision in a bid to defend its intellectual property but the potential impact on the group’s earnings is immense as US sales of its opioid treatment represented around 80% of its revenues last year. Indivior’s shares fell by more than 36.4% in early trading.
“Everyman Media was an early riser after strong first half results. The group’s revenues were up 55% at £18.8m and adjusted earnings increased by 123% to £3m. The cinema group opened one new venue in the first half and is committed to a further nine new venues plus the permanent venue at King’s Cross. Everyman’s shares were up by over 3.8%.
“ZPG, which owns and operates brands like Zoopla, uSwitch, PrimeLocation and Hometrack, has taken over Ravensworth, which provides on-demand print and creative marketing services to estate and letting agents. This enhances ZPG's one-stop-shop product offering for its property partners to now include portal, software, website, data and print marketing services. ZPG’s shares were up by more than 2.2% in early trading.”
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