Below are the major risers & fallers among FTSE 350 stocks at 1.00pm.
RISERS
Allied Minds (LON:ALM), up 5.9%
Jimmy Choo (LON:CHOO), up 3.6%
Hikma Pharmaceuticals (LON:HIK), up 3.4%
Hikma sees buying interest after announcing that Boehringer Ingelheim (BI), from which it is acquiring Roxane Laboratories and Boehringer Ingelheim Roxane, will be allowed to appoint a non-executive director to the board of Hikma so long as BI has at least a 10% stake in Hikma.
Jimmy Choo, meanwhile, continues to recover from its 2015 low, hit on 10 December.
FALLERS
Anglo American (LON:AAL), down 6.9%
Ocado Group (LON:OCDO), down 4.6%
Serco Group (LON:SRP), down 4.3%.
Anglo American leads a weak commodities sector lower while Ocado sees a bit of profit-taking after enjoying a bounce over Christmas after Goldman Sachs lifted its stake above 3%.
Serco also had a nice little run in the lead-up to Christmas but some traders appear to be banking profits now.
Below are some of the main news-driven share price changes at 10.30am.
RISERS
88 Energy (LON:88E), up 17.7%. Shareholders who kept the faith after the 21 December drilling update on Icewine #1 can breathe a sigh of relief; the latest update says the drilling has successfully achieved all of the primary unconventional objectives of the well. The company said a pronounced increase in heavy gas fractions was exhibited in both the gas chromatograph and mass spectrometer whilst drilling through the HRZ shale.
FastForward Innovation (LON:FFWD), up 10.3%. It is a slow day … the sort where a company announcing its new web site has been launched can increase the company's market value by one-tenth.
Sound Energy (LON:SOU), up 3.5%. Sound Energy has entered into a field management agreement with an affiliate of Schlumberger Oilfield Holdings in relation the Tendrara licence, onshore Morocco, as foreshadowed in a previous announcement.
FALLERS
ZincOx Resources, up 43.5%. The company has been unsuccessful in its attempt to raise the US$5mln that would have allowed it to reschedule US$57.1mln of debt owing to Korea Zinc. It means ZincOx will now hand a 90% stake in its recycling plant in the country over to its partner.
Cathay International (LON:CTI), down 18.2%. The China-focused healthcare group expects revenue and gross profit performance to be broadly in line with market expectations, albeit slightly lower than anticipated. What we call in the trade “a thinly disguised profit warning”.
BSD Crown (LON:BSD), down 14.3%. A convoluted update on trust deed amendments has dented the share price. The company's controlling shareholder, BGI Investments, is having trouble repatriating cash it has placed on deposit with an Austrian bank.
At 10.30, the FTSE 100 index was up 22 points at 6,277.