STOCK WATCH

FALANX shares flew as the Aim-listed cyber defence services provider announced two new contract wins, which should boost recurring revenue at the firm.

It has won three-year contract worth £700,000 for security monitoring for an international law firm, and has expanded a three-year deal with another client, which will now be worth £380,000.

Falanx’s Midgard service identifies potential cyber attacks. Shares soared 16.6pc, or 0.68p, to 4.75p.