A notable riser on a grey day was DekelOil (LON:DKL) whose shares gained 15% after it confirmed that its palm kernel crushing plant is now in commercial production and sales have begun.
The company said the new operation provided an “additional significant revenue stream” at Ayenouan, Côte d'Ivoire, site of its state-of-the art palm oil mill.
Over the next eight weeks, production at the kernel crusher will be gradually increased towards its full capacity of 60 tonnes per day - in time to meet the peak harvesting season early next year.
To a different kind of oil and Falcon Oil & Gas (LON:FOG) added 7% as it said it had completed a successful horizontal well.
Hot on the heels of two successful vertical wells, Falcon and its partners have now drilled the Amungee NW-1H well to a total measured depth of 3,808 metres and has cut 1,100 metres horizontally through the ‘B Shale’ interval of the Middle Velkerri formation.
Meanwhile, Telit Communications (LON:TCM) shares added over 6% as it announced that on November 18 chairman Enrico Testa bought 38,000 shares at an average price of 190 pence each and now owns, or is directly interested in, 0.9% of the capital.
Elsewhere, Caza Oil & Gas (LON:CAZA) said it had issued around 24.5mln shares to Yorkville at £0.004649 per share as part of the $4.0 million convertible unsecured loan, announced between the pair in February this year.
Harvest Minerals (LON:HMI) issued 30 million shares each to KMINE Holding and Americas Investments & Participation as consideration shares as part of the earlier mineral rights purchase and sale agreement relating to the acquisition of the Sergi Potash project.
Sabien Technology’s (LON:SNT) new sales strategy is starting to pay off, it told shareholders today, with the majority of clients in a pilot scheme signing up to its smart boiler technology.
Costs have risen though and Sabien cautioned extra expenditure to get the pilot running, additional staff and ongoing development would mean an interim loss to December.
The new plan involves Sabien waiving charges for pilot programmes rather than charging £20,000 as it did previously.
Shares in Breedon Aggregates (LON:BREE) went up 6% after it unveiled plans to acquire Hope Construction for £336mln from a firm jointly run by the Mittal family.
The cash, debt and paper deal sees the group move decisively into the cement market, while expanding its UK footprint.
Geographically, the transaction will strengthen current Breedon activities in the Midlands and Scotland, while establishing it in southern, northern and Welsh markets, said broker Peel Hunt.
Hope, which owns 152 concrete plants as well as five quarries, generated revenues of almost £286mln last year and underlying operating profits of £37mln.