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The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
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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

UK shares show continued resilience

Yesterday afternoon's firmer trend continued this morning

The buzzword in stock markets this morning was “resilience”, with stocks continuing the firmer trend of yesterday afternoon.

Yesterday's terror attacks were still in investors' minds, but with the long week-end approaching investors were happy to increase positions, pushing the FTSE 100 above 6200 to 6,207, up 14 points.

Outside of the blue-chip arena, the mood is also cautiously positive, with the FTSE SmallCap index up eight points at 4,549; the FTSE Aim 100 index up seven points at 3,337 and the FTSE Aim All-Share eight points firmer at 4,549.

Potash project developer Sirius Minerals PLC (LON:SXX) was the top riser on AIM 100, up 7.4%, as bargain hunters move in following the dip seen last week following the release of the definitive feasibility study for its blockbuster York project.

Burford Capital Limited (LON:BUR) climbed 14p to 235p on the back of solid full-year results.

The global finance firm focused on the legal sector saw income increase by 26% to a record $103.0 million in 2015 from $82 million in 2014. The company enjoyed strong organic cash generation, with $140 million in cash produced in 2015, which was more than double the previous year.

Full-year results from gaming and slot machine software specialist Quixant plc (LON:QXT) also came up trumps, with revenue growth in 2015 of 15% and adjusted underlying earnings (EBITDA) 28% higher year-on-year.

Quixant's shares nudged 9p higher to 197.5p.

Cluff Natural Resources PLC (LON:CLNR) has stuck a deal to acquire stakes of up to 25% in three North Sea exploration projects operated by Parkmead Group. It is acquiring the assets for a nominal £1 fee for each project.

The shares advanced 6.4% to 2p.

On the downside, bookie William Hill PLC (LON:WMH) slumped 13.7% to 320p after a profits warning, while vending machines operator SnackTime PLC's (LON:SNAK) long-awaited resumption of trading on Aim gave market makers the chance to mark the shares down by more than a quarter to 5.75p.

Rapid response deep cleaning and decontamination services provider REACT Group PLC (LON:REAT) failed to clean up in 2015, making a loss of £1.21mln, though the loss figure was inflated by one-off items, such as £754,000 of costs relating to its Aim listing and £400,000 of acquisition and Aim admission costs.

Lighthouse Group PLC (LON:LGT) shareholders hoping AFH Financial Group PLC (LON:AFHP) would pull the trigger on the bid it was mulling were left in the lurch, as the provider of independent financial advice found the Lighthouse directors were unwilling to engage in negotiations.

Lighthouse shares dimmed to 12.625p, down a penny on the day, while AFH's shares pulled back 3p to 161p.

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