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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

Aim stocks edge higher but REACT Energy tumbles on cash call fears

The Footsie was stuck in neutral all mornng but Aim shares were firmer on balance

Stocks on Aim continued to outperform those on the main market, with traders reluctant to commit to blue-chips as the US earnings season gets underway.

The FTSE 100 was stuck in neutral throughout the morning, and was down less than a point at 6,200 shortly before noon.

On London's Alternative Investment Market (Aim), the FTSE Aim 100 was 20 points higher at 3,420 and the FTSE Aim All-Share was three points higher at 724.

One stock not participating in Aim's general advance was renewable energy plant developer and operator REACT Energy PLC (LON:REAC), as it will now have to secure financing for the Clay Cross energy recovery facility in Derbyshire, after the local authority gave planning permission.

The shares tumbled 16% to 6.5p.

Also on the slide were shares in LiDCO Group plc (LON:LID), the blood monitoring medtech company, after it tumbled into the red, for which it blamed delayed sales.

Pre-tax losses were £340,000 versus a profit of £330,000 last time, prompting an 11% fall in the share price to 7.75p.

Also down 11% was Goldstone Resources Limited (LON:GRL), after the gold explorer revealed it had tapped up major shareholder Stratex International PLC (LON:SDI) for a £100,000 loan.

A number of Goldstone directors are waiving their fees from now on as the company looks to conserve cash.

Investors were throwing shares of Fishing Republic PLC (LON:FISH) back after its full-year results disappointed, despite the online fishing tackle seller saying they were in line with market expectations.

The shares shed 7.8% at 29.5p.

Shares in Red Rock Resources PLC (LON:RRR) climbed 25% to 0.625p after Paul Johnson, chief executive of Metal Tiger plc, bought 7.5mln shares, representing just over 3% of Red Rock's issued share capital.

There was good news for Gulf Keystone Petroleum Limited (LON:GKP), the Kurdistan-focused oil producer, as it confirmed the receipt of a US$15mln gross payment from the Kurdistan Regional Government for crude oil deliveries in March, bolstering its coffers up to US$69.5mln.

The shares advanced 10% to 6.69p, lifting its market capitalisation to £65mln.

Sector peer Northern Petroleum PLC (LON:NOP) slipped 4% to 2.52p, having risen to 2.75p at one point, after full-year results revealed a sharply narrowed loss of £10.7mln, versus a loss the year before of £59.1mln.

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