Main share price risers and fallers at around 4.00pm
RISERS
88 Energy (LON:88E) up 4.65% to 2.25p. The popular Alaska oil shale share turned positive after confirmation that it was seek to raise between £5.43mln (A$10mln) and £8.14mln (A$15mln) in a placing priced at 1.9p (3.5 Australian cents).
Punch Taverns (LON:PUB) up 10.3% to 107p. The pub group told investors that it is seeing growth of 3% in its higher quality estate, while its ‘core’ estate improved by 1.6% like-for-like in the 28 weeks to March 5.
FALLERS
Paddy Power Betfair (LON:PPB) down 4.13% to 8,945p. The newly merged bookie was downgraded by Credit Suisse, which says the benefits of the combination have been ‘overplayed’.
Amtyt Pharma (LON:AMYT) down 10.5% to 21.25p. Drug company that reversed into former oil explorer Fastnet continues to look for a new level, having traded up to 25p on Tuesday.
Main share price risers and fallers at 1.30pm
RISERS
Flying Brands Limited (LON:FBDU) up 32% to 2.8p. Results confirm plans to become investment company. Serial tweeter Leon Hogan has taken a more than 3% stake according to shareholder register.
Iofina PLC (LON:IOF) up 24% to 15.8p. Share price of iodine producer has been rising steadily since an encouraging production update last week. No apparent news today.
Onzima Ventures PLC (LON:ONZ) up 23% to 0.89p. N4 Pharma, its 49%-owned investee company has filed a range of 45 patents to allow it to reformulate sildenafil. “A major step forward” says chief executive.
FALLERS
N Brown Group PLC (LON:BWNG) down 14% to 270.3p. The owner of Simply Be and Jacamo has reported a lacklustre start to the new financial year. Trading since the end of 2015/16 had been subdued, it said.
BT Group PLC (LON:BT.) down 2.5% to 440p. Jefferies has dropped the telecoms group to ‘hold’ from ‘buy’ and has cut the price target for the stock to 475p from 515p. Analyst Jerry Dellis highlighted that the previously positive view on BT (date back as far as 2010) was founded on a benign regulatory environment and the group’s efforts to cut costs, but, neither factor remain as reliable support for the group’s valuation.
Pcg Entertainment PLC (LON:PCGE) down 16.6% to 1p. The Asia-Pacific online gaming company announced underwhelming growth figures and looks to invest in software distribution to expand the Asian market. Further acquisitions are expected.
Main share price risers and fallers at 9.30am
RISERS
Canadian Overseas Petroleum Ltd (LON:COPL) up 33% to 4.99p. Oiler has confirmed it has signed definitive agreements with UK investors for a £800,000 fund raise. COPL previously, at the end of March, announced a C$6mln funding in Canada. “This financing is the first step in relaunching Canadian Overseas Petroleum to the London market and utilizing our listing on the London Stock Exchange,” said Arthur Millholland, chief executive.
Servoca PLC (LON:SVCA) up 15% to 26p. “Trading performance has shown excellent progress and results for the first six months will be significantly ahead of the corresponding period last year,” said the recruiter.
LGO Energy PLC (LON:LGO) up 7% to 0.29p. Trinidad oil group is to open up new production zones in a well at the Goudron oil field, onshore on the island. The company said it has now received approval to perforate a zone, spanning 208 feet, within the Upper C-Sands in the previously drilled GY-671 well.
FALLERS
ECR Minerals PLC (LON:ECR) down 12% 0.022p. Consultant Snowden completes its competent person's report on the recently acquired Avoca and Bailieston gold tailings dumps in Australia.
Great Western Mining Corporation PLC (LON:GWMO) down 9% to 0.44p. This year explorer in tends to submit a Plan of Operations to obtain a Mining Licence fit claim in Nevada.. A pre-feasibility mining study is in progress and initial planning talks for this project have already been held with the Federal Land Agency.
Atlantis Resources Ltd (LON:ARL) down 8% to 63.8p. Tidal power group raises £6.5mln at 55p to help fund development of portfolio of offshore portfolio around Scotland. Group said will post a first profit due to accountancy treatment of MCT acquisition.