Banknote maker De La Rue, who lost the contract this year to make British post-Brexit blue passports, is still in the sights of activist investor Crystal Amber.
Shares in De La Rue rose by 4.5 percent (21.5p) to 494.5p, rumors that Crystal Amber increased its bet, because the company continues to insist on change.
Crystal Amber, led by city veteran Richard Bernstein, is currently the third largest shareholder in De La Rue. It has been said that it is willing to increase its commitment until it comes first.
In an ominous sign for De La Rue boss Martin Sutherland, earlier this week Bernstein told the Mail: We see change as inevitable. & # 39;
De La Rue threatened to file a legal claim against the government in April after granting the passport contract to the French-Dutch rival Gemalto, which considerably undercut De La Rue.
But later on, it lost this challenge by saying that the risk reward is not step-by-step & # 39; is. Since then, his shares have slipped between 470.5 p and 557 p – a decrease of no less than 56.4 per cent compared to the 10-year high of 1080 p in October 2012.
De La Rue implemented a turnaround plan in 2015 to make the company more technology-driven and points out that banknote paper activities are being sold as a sign of progress earlier this year, but investors remain unconvinced.
They have wondered whether the passport and identification branch of De La Rue now has enough business to survive. The company will provide further details on its plans for the division in the November half-year results.
On the FTSE 250, engineering firm Weir Group warned that it had discovered a weakness in its business when it met investors. The company, which specializes in maintenance of oil and gas platforms and mining infrastructure, said that at the end of the summer there was a significant softening in the question & # 39; was for his equipment.
Earlier this week, Weir & # 39; s American competitors, Halliburton and Schlumberger, raised alarms when they noticed that an increase in oil and gas production in Texas meant that barrels were pumped faster than they could be moved.
This arrears led to the price of oil falling, which poses a threat to the drilling activity. Brent crude oil was traded last night at about $ 76.5 a barrel, for the second day in a row of $ 78.2 on Tuesday.
A continued drop in oil prices could be bad news for Weir, who said that some orders were postponed & # 39 ;. The shares ended the day with 8.6 percent or 154p, against 1632p.
The FTSE 100 ended the day with 0.9 percent at 7319 points, a low point in the vicinity of five months, when the profit of the owner of the British gas, Centrica, did not pull the index up. It rose by 5 percent, or 7.2p, to 150.6p after the government's price ceiling on energy bills was less fierce than expected. But miners still weighed heavily on the index amidst fears in the trade war.
On the June market in London, Brave Bison – who produces video ads for social media – shot up because it made a big breakthrough in China.
It closed a deal with Tencent, one of the world's largest internet companies, allowing it to place videos on WeChat, the most important app for messages, payments and social media in China.
Brave Bison said that this would give access to more than 1.5 billion viewers, making a market that is currently not accessible to most western advertisers. The shares shot up by 60 percent, or 0.9p, to 2.4p.
But biocides manufacturer Velocys, who makes jet fuel from forestry by-products, took a dive. It is an important lender and shareholder of Envia, an American biofuel plant that threatens to be closed if it is not profitable. The shares of Velocys ended the day with 13.9 percent or 1.2p at 6.71 p.