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UK shares muted but Cyan Holdings PLC top gainer

Published: 10:19 06 Apr 2016 BST

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UK shares were rather muted at the off but Cyan Holdings PLC (LON:CYAN) was a notable riser - up over 118%.

It came after the metreing firm won an order for £10mln to install smart meters of electricity in Iran.

The deal is with contractor Micromodje to implement around 360,000 smart meters using Cyan's CyLec's advanced electricity metering infrastructure.

Resource shares were also in the frame.

Aminex PLC (LON:AEX) today said it had produced first gas from its Kiliwani North gas field in Tanzania.

Aminex has a 55.75% working interest in the field in Tanzania though this will reduce to 51.75% following a recent stake sale to partner Solo Oil (LON:SOLO).

The first well, Kiliwani North-1 well (KN-1), will deliver gas to the new adjacent Songo Songo processing plant.

Aminex shares rose over 20% to 1.48p while Solo's also gained over 20% to stand proud at 0.35p.

Landore Resources (LON:LND), the Ontario focused minming explorer, was also continuing the good run, with shares up over 30% to 2.48p.

In the markets, FTSE AIM 100 was down 0.01% to 3,356, while FTSE AIM All share added 0.11% to stand at 712.900.

Bigger FTSE100 was up 0.15% to 6,099 after a weak US performance overnight on worries over a sliding oil price and the economic health of China.

The biggest laggards on Footsie were airline groups with easyjet (LON:EZJ) down 2.56% to 1,482p and IAG (LON:IAG) down 1% to 543.5p.

It came as the budget carrier reported increased passenger numbers in March, but its load factor decreased as flights were cancelled due to industrial action.

Back to small caps and 88Energy (LON:88E) lost over 12% to 3.30p despite it r eporting a new independent resource estimate which sees some 1.4bn barrels of oil equivalent in the HRZ shale that was encountered in the first Project Icewine well.

Independent consultant, DeGolyer & MacNaughton (D&M), has now also upgraded its view on the ‘probability of geologic chance of success’ to 60%, from 40%.

Vast Resources (LON:VAST) was down 13.7% to 0.32p as it issued over 100mln shares for £133,333 after thye share and warrant deal with existing shareholders announced on March 7. They were issued at 0.24p

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