IMI shares gain ahead of £500 million buyback and July results
IMI plc pushed higher late in Friday’s London session, with trading patterns hinting at a cash-return move, not fresh news from the company. Shares were up 42p, or 1.44%, at 2,958p as of 16:01 BST on Google Finance. The FTSE 100 index added 0.18% at 15:47 BST. London Stock Exchange trading ends at 16:30 BST. IMI is trading near its highs, but the second £250 million piece of its buyback hasn’t shown up yet in daily filings. Investegate’s IMI RNS feed showed the most recent IMI update was a July 1 total voting rights notice; before that, a June 22 filing said the first £250 million buyback piece was finished.