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The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
Go to Proactive UK
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
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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: IMI, Kingfisher, Lloyds Banking Group, Lookers, Ophir Energy, Unite Group

MX Oil could sell its Nigerian investments for a sum that is - or was - more than the market capitalisation of the whole company

Below are some of the main news-driven share price changes among FTSE 350 stocks at 3.00pm.

RISERS

Ophir Energy (LON:OPHR), up 7.1%. US oilfield services giant Schlumberger has taken a 40% stake in the Fortune FLNG project in return for reimbursing half of Ophir's past costs.

Unite Group (LON:UTG), up 1.9%. Jefferies upgraded the stock to 'hold' from 'under-perform', though the price target goes down to 569p from 609p.

Lookers (LON:LOOK), up 1.2%. The car dealer has sold three Honda dealerships to Vertu Motors (LON:VTU).

FALLERS

Kingfisher (LON:KGF), down 6.1%. A £600mln cash return to shareholders failed to compensate for a warning that profits would be hit by restructuring costs.

IMI (LON:IMI), down 6.1%. Credit Suisse abandoned its neutral position and now tips the metal basher to under-perform.

Lloyds Banking (LON:LLOY), down 4.8%. JP Morgan Cazenove stuck with its 'overweight' position but cut the price target to 90p from 98p.

Below are some of the main news-driven share price changes at 9.30am.

RISERS

MX Oil (LON:MXO), up 87.5%. MX's shares soared after it revealed it has received an offer for the whole of its Nigerian investment at a price that is “several multiples of the company's current market capitalisation”.

Havelock Europa (LON:HVE), up 31.3%. The company said the cost reductions identified as a result of the programme were achieved by 31 December 2015.

Green Dragon (LON:GDG), up 29.3%. Shareholders in Green Dragon are easily excited; all it took to generate a near-30% gain was confirmation it would release an operations update, as scheduled, on 3 February.

LOSERS

Plexus (LON:POS), down 40.5%. The trading update was like a punch in the solar plexus, as the energy services company revealed a significant slow-down in planned activity by its customers in the current financial year.

HaloSource (LON:HAL), down 14.3%. Full year revenues were affected by delays in key customer roll-outs.

Earthport (LON:EPO), down 9.4%. The cross-border payments specialist said revenues for the second half of 2015 are expected to have exceeded £10.5mln, but would have been higher without the impact of the restructuring of certain business lines.

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