Resource stocks dragged down the Footsie at the outset but Aim stocks were generally making headway.
Heavyweight miners and oil producers were out of favour, contributing to a 38 point fall for the FTSE 100 at 6,272, but away from the blue-chips Aim stocks were firmer on balance, with the FTSE Aim 100 up five points (0.2%) at 3,429 while the FTSE Aim All-Share was up a point at 732.
Highlands Natural Resources PLC (LON:HNR) was one of the top risers, surging 3.375p to 15.25p as it detailed the significant progress it had made with regards to the implementation and commercialisation of the DT Ultravert refracking technology.
“We are incredibly excited to be commencing our first commercial tests of DT Ultravert in the Piceance Basin in June 2016 with the aim of proving that this technology, of which we own 75%, could provide a breakthrough in the industry, particularly in the current oil price environment,” said Highlands chief executive officer Robert Price.
Investors were tucking into SnackTime PLC (LON:SNAK), the snack foods and hot drinks vending machine firm that is turning into a turnaround story.
The shares rose 13.6% to 6.25p as the company revealed consolidated revenues for the year to the end of March 2016 fell just 2% from the year before. Reflecting its move away from snacks and towards hot drinks, the company intends to change its name to Uvenco UK PLC.
A return of capital is almost always welcomed by shareholders and so it proved with Randall & Quilter Investment Holdings Ltd (LON:RQIH), which is proposing to issue shareholders with newly created V shares.
The non-life insurance market-focused investment company's shares rose 12% to 103p.
The revamped web site from Strategic Minerals PLC (LON:SML) must be a corker because the shares rose 12.5% to 0.23p on news that it had been updated. Perish the thought that some investors might have got confused about a statement after the close on Friday that Bushveld Minerals Limited (LON:BMN) is pondering buying Evraz's 78% holding in a company, also called Strategic Minerals, that owns vanadium assets in South Africa.
A somewhat more substantial update from Arian Resources PLC (LON:AAU), relating to a resource estimate for its Kiziltepe mine in Turkey.
The shares hardened 5.3% to 1.5p as the company said it is looking at an extra two years of the life-of-mine after the resources estimate upgrade.
On the downside, marketing services group St Ives PLC (LON:SIV) lost two-fifths of its value after reporting a marked deterioration in the near-term outlook for the company.
Cloud-based communications solutions provider Outsourcery plc (LON:OUT) plunged 29% to 7.25p as it revealed in its full-year results statement it would require further funding for short-term working capital purposes.
Shares in Snoozebox Holdings PLC (LON:ZZZ) fell out of bed after the abrupt departure of chief executive officer (CEO) Lorcán Ó Murchú, shortly before the initial findings of a comprehensive review of the business are published.
Chairman Chris Errington will take on executive duties until a new CEO is found.
London open snapshot
Early trading saw FTSE 100 fall 38 points to 6,272 after a weak performance overnight in Asia.
Royal Bank of Scotland believes that Chinese banks could pose a “black swan” risk for the nation’s financial system, surging lending to non-bank financial institutions.
Predictably miners fell on the China concern with BHP Billiton, Anglo American and Rio Tinto the three worst performers shedding more than 3% each.
Bookmaker Paddy Power and plant hire group Ashtead were the best of the risers.