Google tech maker jumps 50pc after clinching deal

SMART home device maker

LightwaveRF jumped nearly 50pc after partnering with Google on the tech giant’s recently launched voice control technology.

LightwaveRF makes devices that allow users to control things such as light, heat, power and security through an app on their mobile phone.

Its customers will now be able to use Google’s new voice-controlled Home device instead.

LightwaveRF already allows its customers to use Amazon’s ‘Alexa’ voice technology, featured as part of its Echo product range, and plans to team up with Apple on similar technology.

LightwaveRF saw its shares rise by 48.4pc, or 7.5p, to 23p – a 16month high.

The day was less rosy for larger companies, with the FTSE falling 0.9pc, or 67.05 points, to 7436.42.

It was hit by the unravelling of the so-called ‘Trump trade’, which has been boosting markets around the world since the US election late last year.

Many stocks have suffered as critics argue that Donald Trump is failing to deliver on policy promises, while scrutiny of his alleged ties with Russia increases the risk of his impeachment.

After a long period of benefiting from Trump’s plans to spend a trillion dollars on infrastructure, construction stocks were hit particularly hard yesterday by growing political turmoil in the US. Building equipment rental firm

Ashtead Group was one of the FTSE’s biggest losers, down 1.2pc, or 18p, to 1542p, while construction and engineering firm Keller

Group led losses in the FTSE 250, down 5.8pc, or 53p, to 863.5p.

Building supplies firm Tyman fell 3pc, or 10.5p, to 335p, despite stellar results.

Drugmaker Shire edged up the FTSE after announcing progress in the development of a treatment for hereditary angioedema, which causes severe swelling under the skin. The firm, which mainly focuses on rare diseases, plans to submit a US marketing application for the drug by the end of this year or early next year, but it did not say how it is likely to be priced. Shares rose 1.8pc, or 83p, to 4814.5p.

In the junior market, two celebrity-backed media groups rallied after confirming rumours that they could merge. Bob Geldof-backed TV producer

Zinc Media confirmed that it was plotting a merger with Brave

Bison, a YouTube movie maker backed by former Sun newspaper columnist Kelvin MacKenzie.

Brave Bison also issued a note which said the two firms had held preliminary discussions. The two firms will confirm whether or not a deal is due to take place by June 15 at the latest.

Zinc, which was set up under the name Ten Alps by Boomtown Rats singer Geldof, rose 4.9pc, or 0.05p, to 1.08p.

Meanwhile, Brave Bison shot up 1.8pc, or 0.02p, to 1.45p – one of the day’s biggest risers,

Marketing firm Proxama extended severe losses from its previous session after ousting the chief executive of its digital payments division.

Mike Woods will step down from his role and the board immediately as part of a restructure.

Earlier this week, the firm announced that it had decided against selling its digital payments division and will instead focus on reducing the division’s operating costs by £1m.

It said that Woods’s resignation formed part of the process of cutting costs.

Yesterday its shares fell another 11.5pc, or 0.03p, to 0.23p.