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Angle plc among winners as small caps fall

Medtech firm Angle plc was among the winners on a day where stocks were dragged lower by UK manufacturing data.....
Angle's parsortix device.....

Medtech firm Angle plc (LON:AGL) was among the winners on a day where stocks were dragged lower by UK manufacturing data

Angle shares added almost 15% on the day to 81p as it revealed a potential breakthrough in the detection, monitoring and treatment of prostate cancer based on the results of a study by the Barts Cancer Institute (BCI).

The data, presented in a poster at an international cancer symposium, show that ANGLE’s Parsortix liquid biopsy not only detects the killer disease, the device also allows doctors assess how aggressive the cancer is.

It will now work with BCI and other leading cancer centres to develop and implement clinical studies to validate the use of the Parsortix system “in the routine detection, assessment and treatment of prostate cancer patients”.

Meanwhile, the biggest junior shares on FTSE AIM 100 were 0.18% down at 3,308, while the FTSE AIM all share was down 0.13% at 705.760.

FTSE100 was also lower, down 0.23% at 6,175 as the latest survey on UK manufacturing showed continued weakness. The CBI Industrial Trends survey said factory output fell at its fastest pace in more than six years.

Among the big losers in London  was Quadrise Fuels International PLC (LON:QFI), down 13.79% to 12.5p after its half-yearly report.

The provider of a low-cost alternative to fuel oil in the shipping, refining and power generation markets made a loss before tax in the second half of 2015 of £2.35mln, little changed from the loss of £2.21mln in the same period of 2014.

The company ended 2015 with cash reserves of £6.50 million, which it said should be sufficient to carry the group through to sustainable early revenues from its major projects, based on the current programme time scales.

Also lower was Brady (LON:BRY), which eased 9.73% to 51p despite the trading software supplier revealing that overheads were now much lower after it responded swiftly to the collapse in global commodity prices.

Market conditions were weaker than expected in the second half of last year, resulting in underlying earnings (EBITDA) before exceptional items falling to £2.5mln in 2015 from £2.5mln in 2014.

The company made a loss before tax and exceptional items of £928,000, versus a profit before tax and exceptional items the year before of £3.23mln.

Heading north, appropriately enough perhaps, was Namibia-focused mining project developer North River Resources PLC (LON:NRRP) as further drilling at its flagship Namib lead-zinc project hit high grade mineralisation.

The shares advanced almost 14% to stand at 0.08p each.

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