- LMS Capital said net asset value fell in the first quarter as investment gains were offset by a stronger pound and increased costs.

In the three months to 31 March, net asset value fell to £59.6m from £60.3m the previous quarter.

Gains in the investment portfolio of £0.3m were offset by strengthening of sterling against the US Dollar resulting in an unrealised exchange loss of £0.6m and a £0.4m, which was mainly driven by overhead costs.

At 9:52am: [LON:LMS] LMS Capital PLC share price was 0p at 50.4p

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