Market Report: Imagination Technologies bounds to the top of the mid-cap FTSE 250 index

Rising revenues at Imagination Technologies helped the microchip supplier bound to the top of the mid-cap FTSE 250 index yesterday, despite Credit Suisse warning of troubles down the road.

Imagination's shares rose by 18p to 251.5p after it said licensing revenues were up 32 per cent and royalties had risen by 15 per cent. Roger Phillips, at Investec, said the business "looks to have turned a corner". Despite the recovery, Credit Suisse said it had long-term concerns, with Imagination's shipment targets "optimistic" given the slowdown in smartphone sales.

Activity on the FTSE 100 was again subdued, with unrest in Iraq continuing to overshadow trading. The bluechip index fell 3.49 points to 6787.07.

Shares in Domino Printing Sciences, the inkjet and laser printing group, plunged 123p to 615p on the FTSE 250 despite a 10 per cent bounce in first-half profits. The Cambridge-based company said pricing pressures in Asia and other developing markets would hit earnings over the next two years.

The specialist chemicals group Croda also took a battering, losing 218p to 2188p, after it admitted that the strong pound would probably wipe £6.5m off its second-quarter profits.

Trinity Mirror was in the spotlight as the phone-hacking trial of Rebekah Brooks and Andy Coulson, former employees of rival News Corp, ended. Former Trinity Mirror reporter Dan Evans admitted during the trial to hacking and investors worry about the consequences for the Daily Mirror publisher, whose shares fell by 3.75p to 148p.

Neil Woodford's new fund, Woodford Investment Management, declared a 3.05 per cent holding in power generator Drax Group, whose shares rose 2.5p to 640p, a 3.13 per cent stake in outsourcer Capita, which fell 14p to 1139p, and said it had also snapped up a 13.82 per cent share of the Aim-listed energy and water consultancy Utilitywise, which ended the day 10.5p better off at 300.5p.

Investment group The Hotel Corporation slid 0.32p to 1.47p after it warned that its subsidiary Puma Hotels could fold, although it said it would be fine without the income from Puma.

Start your day with The Independent, sign up for daily news emails
PROMOTED VIDEO
ebooks
ebooksA special investigation by Andy McSmith
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Recruitment Genius: Software Development Manager

£40000 - £50000 per annum: Recruitment Genius: This is an exciting opportunity...

Ashdown Group: Product Manager - (Product Marketing, Financial Services)

£30000 - £35000 per annum + Benefits: Ashdown Group: Marketing Manager - Marke...

Recruitment Genius: Compliance Assistant

£13000 per annum: Recruitment Genius: This Pension Specialist was established ...

Ashdown Group: Market Research Executive

£23000 - £26000 per annum + Benefits: Ashdown Group: Market Research Executive...

Day In a Page

As in 1942, Germany must show restraint over Greece

As in 1942, Germany must show restraint over Greece

Mussolini tried to warn his ally of the danger of bringing the country to its knees. So should we, says Patrick Cockburn
Britain's widening poverty gap should be causing outrage at the start of the election campaign

The short stroll that should be our walk of shame

Courting the global elite has failed to benefit Britain, as the vast disparity in wealth on display in the capital shows
Homeless Veterans appeal: The rise of the working poor: when having a job cannot prevent poverty

Homeless Veterans appeal

The rise of the working poor: when having a job cannot prevent poverty
Prince Charles the saviour of the nation? A new book highlights concerns about how political he will be when he eventually becomes king

Prince Charles the saviour of the nation?

A new book highlights concerns about how political he will be when he eventually becomes king
How books can defeat Isis: Patrick Cockburn was able to update his agenda-setting 'The Rise of Islamic State' while under attack in Baghdad

How books can defeat Isis

Patrick Cockburn was able to update his agenda-setting 'The Rise of Islamic State' while under attack in Baghdad
Judith Hackitt: The myths of elf 'n' safety

Judith Hackitt: The myths of elf 'n' safety

She may be in charge of minimising our risks of injury, but the chair of the Health and Safety Executive still wants children to be able to hurt themselves
The open loathing between Barack Obama and Benjamin Netanyahu just got worse

The open loathing between Obama and Netanyahu just got worse

The Israeli PM's relationship with the Obama has always been chilly, but going over the President's head on Iran will do him no favours, says Rupert Cornwell
French chefs get 'le huff' as nation slips down global cuisine rankings

French chefs get 'le huff' as nation slips down global cuisine rankings

Fury at British best restaurants survey sees French magazine produce a rival list
Star choreographer Matthew Bourne gives young carers a chance to perform at Sadler's Wells

Young carers to make dance debut

What happened when superstar choreographer Matthew Bourne encouraged 27 teenage carers to think about themselves for once?
Design Council's 70th anniversary: Four of the most intriguing prototypes from Ones to Watch

Design Council's 70th anniversary

Four of the most intriguing prototypes from Ones to Watch
Dame Harriet Walter: The actress on learning what it is to age, plastic surgery, and her unease at being honoured by the establishment

Dame Harriet Walter interview

The actress on learning what it is to age, plastic surgery, and her unease at being honoured by the establishment
Art should not be a slave to the ideas driving it

Art should not be a slave to the ideas driving it

Critics of Tom Stoppard's new play seem to agree that cerebral can never trump character, says DJ Taylor
Bill Granger recipes: Our chef's winter salads will make you feel energised through February

Bill Granger's winter salads

Salads aren't just a bit on the side, says our chef - their crunch, colour and natural goodness are perfect for a midwinter pick-me-up
England vs Wales: Cool head George Ford ready to put out dragon fire

George Ford: Cool head ready to put out dragon fire

No 10’s calmness under pressure will be key for England in Cardiff
Michael Calvin: Time for Old Firm to put aside bigotry and forge new links

Michael Calvin's Last Word

Time for Old Firm to put aside bigotry and forge new links