Omega Diagnostics reports positive results for COVID-19 test
A look at the major movers on the London market on Wednesday
2.51pm: Healthcare group reports positive test results
Omega Diagnostics Group PLC (LON:ODX) is in demand after announcing postive results for the Mologic COVID-19 lateral flow antigen test.
The test, which Omega has launched for professional use under its Visitect brand, has been independently verified in a 665-person study in Germany by FIND, a World Heath Organisation collaborating centre.
Omega said the test was shown to demonstrate best-in-class performance with 100% specificity and 96.4% sensitivity compared with laboratory testing.
Chief executive Colin King said: This is great news for the Mologic test, which we are now producing under our Visitect brand. It is significant that the test has been shown to have high diagnostic accuracy on self-collected swab specimens. Rapid diagnostic tests play a crucial role in breaking the spread of infectio
SIG shares jump as it forecasts a return to profit
A look at the major movers on the London market on Wednesday
SIG PLC (LON:SHI) has come in from the cold sooner than expected.
The insulation specialist said January and February had seen a solid start to the year, with sales volumes then picking up so that March and April traded ahead of expectations.
So it now expects to deliver an underlying profit in the first half, turning round its losses more quickly than expected.
It said: Whilst the evolving COVID-19 backdrop will continue to create uncertainty in the short term, more so in our EU markets than the UK, the strong demand across territories and sectors in the first four months of the year was encouraging and gives the board increased confidence for the full year performance.
Future in demand after update on GoCompare acquisition
A look at the major movers on the London market on Wednesday
1.11pm: Publisher pleases at presentation
Future PLC (LON:FUTR) has been lifted by a presentation to analysts this week on price comparison websites.
The company, which recently bought GoCompare, believes such websites can continue to add value for consumers and also product providers.
It said the integration of GoCompare was going well, according to Roddy Davidson of Shore Capital, who issued a buy note on the business.
Davidson said: We were encouraged by the positive points stressed in yesterday’s presentation and see good structural growth prospects for the price comparison website [PCW] market through attracting more consumers and increasing conversion rates – as an example only around 30% of switching activity in car insurance is via PCW’s, despite 40%-50% of customers using a PCW to research prices.
SIG shares jump as it forecasts a return to profit
A look at the major movers on the London market on Wednesday
SIG PLC (LON:SHI) has come in from the cold sooner than expected.
The insulation specialist said January and February had seen a solid start to the year, with sales volumes then picking up so that March and April traded ahead of expectations.
So it now expects to deliver an underlying profit in the first half, turning round its losses more quickly than expected.
It said: Whilst the evolving COVID-19 backdrop will continue to create uncertainty in the short term, more so in our EU markets than the UK, the strong demand across territories and sectors in the first four months of the year was encouraging and gives the board increased confidence for the full year performance.