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The Markets
by Proactive
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Small-cap coverage continues on .com
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Pharma & Biotech

Risers & Fallers: Empyrean Energy, Iofina, Mosman Oil & Gas, Photostar LED, Westminster Group

Empyrean's exist from a US shale project looks well-timed

Below are some of the main news-driven share price changes at 4.00pm.

RISERS

Empyrean Energy (LON:EME), up 52.5%. This piece of news ghosted in unmarked on the back stick … the company is selling its stake in the Suglarloaf AMI project in Texas’s Eagle Ford shale for an eye-catching US$71.5mln.

Photonstar LED Group (LON:PSL), up 11.8%. The British designer and manufacturer of smart LED lighting solutions has been selected to install its Halcyon system in a Royal Bank of Scotland building as a part of the bank's Go Green initiative.

Westminster (LON:WSG), up 9.4%. Sea trials on the group's flagship ferry vessel, the Sierra Queen, are well underway.

FALLERS

Iofina, down 16.1%. The iodine producer, continues to look at streamlining costs as it reported an increase in production of crystalline iodine from its US plants for 2015.

Mosman Oil & Gas, down 13.3%. The Aussie firm withdrew from its application for an early stage exploration project at Officer Basin in Australia.

Below are some of the main news-driven changes among FTSE 350 stock at midday.

RISERS

Amec Foster Wheeler (LON:AMEC), up 4.1%. It must be galling for a chief executive to see the company's share price rise on the announcement of his departure, but that is what has happened to Samir Brikho, who is stepping down as boss of Amec. The chief financial officer, Ian McHoul, is acting as interim chief executive.

Petrofac (LON:PFC), up 3.1% and Wood Group (LON:WG.), up 3.0%. A bit of comfort for Mr Brikho, as sector peers Wood Group and Petrofac are also sporting handsome gains, as the price of oil rose 2% this morning.

Shire (LON:SHP), up 1.9%. Exane BNP Paribas has moved from 'neutral' to 'outperform' on the Irish drugs giant.

FALLERS

JD Sports (LON:JD.), down 5.6%. The sportswear seller had a good run last week after a strong trading update, but is seeing profit taking today.

Bovis (LON:BVS) and Redrow (LON:RDW), down 4%. Most of the house builders are in the dog house but these two are suffering the most.

Below are some of the main news-driven share price changes as at 9.15.

RISERS

Ceres Power (LON:CWR), up 16.0%. It's all about energy production and storage this morning, starting with fuel cell technology firm Ceres, which has deepened its relationship with Japanese powerhouse Honda.

Active Energy Group (LON:AEG), up 15.6%. Almost matching the gain made by Ceres is Active Energy, which announced its AEG WoodFibre arm has landed two signficiant supply contracts that are expected to generate revenues of US$50mln this year.

Bushveld Minerals (LON:BMN), up 10.9%. Mineral extraction company Bushveld has obviously seen which way the wind is blowing, as it has set up a new subsidiary, Bushveld Energy, to serve the energy storage market, which it believes is at a tipping point.

LOSERS

React Energy (LON:REAC), down 42.9%. In contrast with its energy peers, React Energy finds itself out of favour. Earlier this month the cash-strapped clean energy firm secured a €750,000 loan facility to allow it to continue its investment in biomass gasification projects in the UK.

Altona Energy (LON:ANR), down 21.4%. Shares tumbled after it announced a delay of around three weeks in money from Sinoa-Aus, which recently participated in a share subscription.

Petroceltic (LON:PCI), down 18.9%. The company has received a further waiver of repayments under its senior bank facility extending to 29 January 2016. The company's lenders have also indicated their willingness to consider such further waivers as may be required to continue the strategic review process.

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