Having closed above the 6,400 level last night, the FTSE 100 slipped back to more familiar environs this morning, despite the continued strength of miners.
The top-share index was down 18 points (0.3%) at 6,388 and it was left to the junior market to provide most of the cheer in early trading, with the FTSE Aim 100 index up a couple of points (0.1%) to 3,461 and the FTSE Aim All-Share up half a point (0.1%) at 735.
Two energy stocks were the top performers, with Canadian Overseas Petroleum Limited (LON:COPL, CVE:XOP) up by a third to 5p, and LGO Energy PLC (LON:LGO) up one sixth to 0.32p.
COPL confirmed it has signed definitive agreements with UK investors for an £800,000 fund raising, with the shares being sold for 3.5p each.
“This financing is the first step in relaunching Canadian Overseas Petroleum to the London market and utilising our listing on the London Stock Exchange,” said Arthur Millholland, COPL's chief executive.
LGO is another company enjoying something of a rebirth, having considered last year putting itself up for sale. It is planning to open up new production zones in a well at the Goudron oil field, onshore Trinidad.
The company said it has now received approval from the Trinidad authorities for its plan to perforate a zone, spanning 208 feet, within the Upper C-Sands in the previously drilled GY-671 well.
The news from the recruitment sector has been decidedly mixed this year but staffing solutions firm Servoca PLC (LON:SVCA) provided some cheer in a very terse stock market announcement.
“As announced following the recent AGM, trading performance has shown excellent progress and results for the first six months will be significantly ahead of the corresponding period last year,” the company said, sending shares more than 15% higher to 25.95p.
Investment firm Onzima Ventures PLC (LON:ONZ) has had a tremendous 2016, with the shares up more than 50%, largely – if not entirely – on the strength of the activities of its portfolio company N4 Pharmaceuticals, in which it has a 49% stake.
The shares rose a further 11% to 0.803p as N4 said it had filed a range of 45 patents to allow it to reformulate sildenafil, better known by the brand name Viagra, to greatly improve the pharmacological profile of the drug.
On the down side, ECR Minerals PLC (LON:ECR) backtracked 15% to 0.02p as it revealed consultant Snowden had completed its competent person's report on the recently acquired Avoca and Bailieston gold projects in Australia.
ECR will continue to develop a careful exploration strategy for the properties, while prioritising short term cash flow from the proposed reprocessing of historical mine dumps at Avoca to produce gold, with saleable gravel and sand as by-product.
Sector peer Great Western Mining Corporation PLC (LON:GWMO) fell 8% to 0.447p as it revealed a loss of €340,707 for 2015, versus a restated loss the year before of €368,712.
The pre-revenue company said 2015 had been a year of “solid progress” for the company, which has valid drill permits for its two most advanced copper-gold targets in Nevada.