Is ITV PLC down because Piers Morgan is leaving?

ITV plc (LON:ITV) dropped 6% to 119.26p at midday, with analysts wondering whether it’s because Piers Morgan is leaving tv show Good Morning Britain.

Investors may be a little worried about the loss of ratings for the morning programme, as it wasn’t exactly doing that well before he joined and its primetime slot will have repercussions for ads, according to Neil Wilson at Markets.com.

“Love or loathe, Morgan boosted ratings,” he said. “It could also be that investors are worried about an investigation over comments made by Morgan on air. Shares were hit yesterday after it revealed the way in which lockdowns have hit ad revenues, but indicated things are picking up and Studios can drive new growth. Deutsche Bank today calls it a buy. You cannot be owning ITV and worry about one host, can you?”

11.45am: Kin and Carta surges on the back of confident outlook

Kin and Carta PLC () rose 9% to 161p in the late morning after expressing confidence of achieving significant growth in the second half and meeting expectations for the full year.

The digital strategy firm said market demand continues to increase in all of its regions, as evidenced by its growing pipeline and record backlog.

In the half-year to January 31, net revenue was down 10% to £64mln while loss before tax remained flat at £6mln.

10.25am:  slips after completing financial restructuring

Limited () slipped 13% to 1.37p after announcing it has completed the restructuring of the group, which involves new governance arrangements and cashflow controls.

The miner has partially reinstated notes debt with holders of existing notes contributing with US$30mln of new money, with the new notes amounting to US$337mln including the New Money and fees paid as part of the transaction in New Notes.

It has also converted the remainder of the Notes debt into equity, so the Noteholder group now holds 91% of the enlarged share capital of the Petra Diamonds.

Remaining in the natural resources sector, () shed 9% to 10.75p after admitting that no amicable settlement with either joint venture partner in Slovenia has been reached to-date.

The energy firm has been in dispute with Geoenergo and the local service provider Petrol Geo, in relation to historic amounts claimed of €235,000.

Meanwhile, Petrol Geo has issued a local enforcement order attempting to claim payment for an unsubstantiated amount of €662,288 plus interest of €12,103 so Ascent has taken legal advice.

9.30am: Sabien Technology rises after establishing US subsidiary

() was an early riser on Wednesday, adding 9% to 0.12p after incorporating Sabien, Inc, its wholly owned US subsidiary.

The US arm, to operate from Texas, will be used to source acquisition opportunities and to build and operate distribution channels for its European businesses.

The heating, cooling and transportation solutions provider said US investor and technology company operator Danny Mills has been appointed as President and Richard Parris is Chairman and Company Secretary of Sabien, Inc.

Elsewhere, Induction Healthcare () added 1% to 109.6p after its Induction Booking appointment service passed the 1mln bookings milestone in just a few months.

Since last October, NHS trusts have deployed Induction Booking to schedule COVID-19 vaccinations for their own staff, while universities have used the platform to support lateral flow tests for students.

The firm said it has been designed as an easy-to-use digital system that “not only improves the patient experience but also alleviates logistical and operational issues for the NHS in a challenging time”.

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