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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 head lower; Herencia Resources surges

UK shares were under pressure, with FTSE AIM 100 down 0.2% to 3,330 and the AIM All share index down 0.19% at lunch.

UK shares were under pressure, with FTSE AIM 100 down 0.2% to 3,330 and the AIM All share index down 0.19% at lunch.

Investors are jittery ahead of non-farm payroll figures from the US, which may or may not lead to an interest rate rise from the Fed. Meanwhile, a volatile quarter to say the least on global markets has now ended.

FTSE100 is down 76 points at the time of writing, with delivery giant Royal Mail (LON:RMG) the biggest loser, down more than 3% at 465.2p.

In small caps, resource stocks were in focus and the biggest riser in London was Herencia Resources (LON:HER), which skyrocketed over 183% to 0.04p as it emerged talks with major shareholders to provide it with additional loans were "well progressed" and the firm said it was not aware of any other reason for the price rise.

Greatland Gold (LON:GGP) was also a big gainer as shares shot up over 21% to 0.115p.

On the flip side, StratMin Global Resources PLC (LON:STGR) shed over 13% to 2.375p as it looks set to sell its operating subsidiary for A$15.25 million

It will receive around double its current market valuation in an asset sale should also provide a “funding solution” for its Madagascan graphite operation.

The deal will see Stratmin offload its 93.75% stake in Graphmada Mauritius business to Bass Metals Ltd (ASX:BSM) for up to £8.1mln.

Up today was junior oil firm Range Resources (LON:RRL), which rose 16% to 29p, as it has told investors that the MD 250 well, in Trinidad, has reached target depth ahead of schedule.

The well, which spudded on March 10, reached a depth of 4,100 feet on March 28.

It was the first well drilled with the new deep drilling rig under contract to Range, and it unearthed more than an estimated 100 feet of net oil pay.

Shares in online takeway app Just Eat (LON:JE.) eased 2.76% to 366.9p as it received clearance from Spanish regulators to complete its acquisition of La Nevera Roja from Rocket Internet.

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