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Canaccord Genuity upgraded its rating for motor insurance company from “sell” to “hold”. It said profit before tax had beat expectations by 14 per cent over the first half of the year. The higher-than-expected profit was due to profit commission and reserve releases.
FinnCap upgraded its rating for the medical technology business from “sell” to “hold”. Despite cutting their sales forecast to £272m for the year ending 30 April 2016, FinnCap analysts said the company’s net debt would fall to £92.3m.
BANK OF GEORGIA
Numis reiterated its “buy” rating for the retail bank. The strength of the dollar helped drive growth in the bank’s loan book and also buoyed revenue growth which was up 45 per cent from April to June compared with the same month last year.