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
Life and Style
Steve Shaw shows Kate how to get wet behind the ears and how to align her neck
healthSteven Shaw - the 'Buddha of Breaststroke' - applies Alexander Technique to the watery sport
Arts and Entertainment
The sight of a bucking bronco in the shape of a pink penis was too much for Hollywood actor and gay rights supporter Martin Sheen, prompting him to boycott a scene in the TV series Grace and Frankie
footballShirt then goes on sale on Gumtree
Terry Sue-Patt as Benny in the BBC children’s soap ‘Grange Hill’
voicesGrace Dent on Grange Hill and Terry Sue-Patt
Arts and Entertainment
Performers drink tea at the Glastonbury festival in 2010
Arts and Entertainment
Twin Peaks stars Joan Chen, Michael Ontkean, Kyle Maclachlan and Piper Laurie
tvName confirmed for third series
Cameron Jerome
footballCanaries beat Boro to gain promotion to the Premier League
Arts and Entertainment
ebookA unique anthology of reporting and analysis of a crucial period of history
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating

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

iJobs Job Widget
iJobs Money & Business

Guru Careers: Software Developer / C# Developer

£40-50K: Guru Careers: We are seeking an experienced Software / C# Developer w...

Neil Pavier: Management Accountant

£45,000 - £55,000: Neil Pavier: Are you looking for your next opportunity for ...

Sheridan Maine: Commercial Accountant

£45,000 - £55,000: Sheridan Maine: Are you a newly qualified ACA/ACCA/ACMA qua...

Laura Norton: Project Accountant

£50,000 - £60,000: Laura Norton: Are you looking for an opportunity within a w...

Day In a Page

Abuse - and the hell that came afterwards

Abuse - and the hell that follows

James Rhodes on the extraordinary legal battle to publish his memoir
Why we need a 'tranquility map' of England, according to campaigners

It's oh so quiet!

The case for a 'tranquility map' of England
'Timeless fashion': It may be a paradox, but the industry loves it

'Timeless fashion'

It may be a paradox, but the industry loves it
If the West needs a bridge to the 'moderates' inside Isis, maybe we could have done with Osama bin Laden staying alive after all

Could have done with Osama bin Laden staying alive?

Robert Fisk on the Fountainheads of World Evil in 2011 - and 2015
New exhibition celebrates the evolution of swimwear

Evolution of swimwear

From bathing dresses in the twenties to modern bikinis
Sun, sex and an anthropological study: One British academic's summer of hell in Magaluf

Sun, sex and an anthropological study

One academic’s summer of hell in Magaluf
From Shakespeare to Rising Damp... to Vicious

Frances de la Tour's 50-year triumph

'Rising Damp' brought De la Tour such recognition that she could be forgiven if she'd never been able to move on. But at 70, she continues to flourish - and to beguile
'That Whitsun, I was late getting away...'

Ian McMillan on the Whitsun Weddings

This weekend is Whitsun, and while the festival may no longer resonate, Larkin's best-loved poem, lives on - along with the train journey at the heart of it
Kathryn Williams explores the works and influences of Sylvia Plath in a new light

Songs from the bell jar

Kathryn Williams explores the works and influences of Sylvia Plath
How one man's day in high heels showed him that Cannes must change its 'no flats' policy

One man's day in high heels

...showed him that Cannes must change its 'flats' policy
Is a quiet crusade to reform executive pay bearing fruit?

Is a quiet crusade to reform executive pay bearing fruit?

Dominic Rossi of Fidelity says his pressure on business to control rewards is working. But why aren’t other fund managers helping?
The King David Hotel gives precious work to Palestinians - unless peace talks are on

King David Hotel: Palestinians not included

The King David is special to Jerusalem. Nick Kochan checked in and discovered it has some special arrangements, too
More people moving from Australia to New Zealand than in the other direction for first time in 24 years

End of the Aussie brain drain

More people moving from Australia to New Zealand than in the other direction for first time in 24 years
Meditation is touted as a cure for mental instability but can it actually be bad for you?

Can meditation be bad for you?

Researching a mass murder, Dr Miguel Farias discovered that, far from bringing inner peace, meditation can leave devotees in pieces
Eurovision 2015: Australians will be cheering on their first-ever entrant this Saturday

Australia's first-ever Eurovision entrant

Australia, a nation of kitsch-worshippers, has always loved the Eurovision Song Contest. Maggie Alderson says it'll fit in fine