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Risers and fallers - Spectris, Patagonia Gold, China New Energy and more

Last updated: 16:19 20 May 2016 BST, First published: 09:34 20 May 2016 BST

Two arrows -one blue, one red - representing stock risers and fallers

Some major news-driven risers and fallers at around 4pm  

RISERS

Centamin PLC (LON:CEY) shares advanced 5.65% to 114p as heavyweight Morgan Stanley started covering the Egypt-focused stock with an 'overweight' stance and a  130p price target.

China New Energy Ltd (LON:CNEL), shot up over 94% to 2.53p as the engineering and tech provider noted press commentary in relation to Sunbird Bioenergy Africa Limited (Sunbird) and its bioethanol project in the Luapula province of Zambia.

The Investment Promotional and Protection Agreement (IPPA), a key milestone in the start of the project, have been agreed and that the IPPA is expected to be signed shortly, it said.

Medilink-Global UK Ltd (LON:MEDI) shares up 40% to 1.75p as the board noted the rise in the share price today but said it knew of no reason for the movement.

FALLERS

Alexander Mining PLC (LON:AXM), down almost 23% to 0.17p as it raised half a million pounds in a placing - the net proceeds of which will be used for general working capital.

Patagonia Gold plc (LON:PGD), down 6.25% to 1.875p as it said it had raised an additional £510,000 to top up the £6.9mln placing completed last month.

The Argentinian gold miner is the process of switching production from its Lomada mine to a new operation at Cap-Oeste.

Spectris plc (LON:SXS) shares lost almost 4% to 1,700p as the precision instruments maker reported a drop in like-for-like sales in a trading update for 1 January to 30 April, but reported sales grew thanks to acquisitions.


Some risers and fallers at 12.50pm,

RISERS

Ladbrokes PLC (LON:LAD), up 9.71% to 131.10p, despite news emerging that it and Coral could be forced to sell a tenth of their high street estate before their £2.3bn merger can go ahead.

Temporary power provider Aggrekko PLC (LON:AGK), up 3.79% to 1,151p, as it was the subject of some analyst commentary.

Tomco Energy (LON:TOM), up 20% to 0.18p as it revealed an agreement with chief executive Chris Brown , to provide £150,000 by way of a loan convertible into ordinary shares in the firm.

FALLERS

Life sciences group ValiRx Plc (LON:VAL), down over 14% to 9.63p, after a recent good run for the shares. Yesterday, alongside final results, the firm said manufacturing of lead candidate VAL401 had begun ahead of a phase II clinical trial of the drug in patients with advanced lung cancer.

Asiamet Resources Limited (LON:ARS) fell over 8% to 2.23p as the mining group said it had issued the technical report supporting an earlier PEA for its BKM copper project in Indonesia.

HSBC Holdings PLC (LON:HSBA) down 0.12% to 426.05p as news emerged it plans to close 24 branches in India, which will lead to to 300 jobs losses.

 

RISERS

AquaBounty Technologies Inc (LON:ABTU) rocketed over 222% to 43.5p to make the stock top London riser as the Canadian authorities approve that its GM AquAdvantage Salmon is safe to eat and poses no environmental concerns. STORY here.

Highlands Natural Resources Plc (LON:HNR), up 9.73% to 40.88p, as the group further expanded its footprint, with a deal to acquire additional mining claims in Utah. Story here

Greka Engineering & Technology Ltd (LON:GEL) up 28% to 0.80p as it now seeks approval from shareholders to delist from AIM.

FALLERS

Armadale Capital PLC (LON:ACP), down 25% to 1.88p as it said it remained in talks over a finance package to build its Mpokoto gold mine in the DRC. Story here.

Circle Oil PLC (LON:COP), sank almost 74% to 0.53p, as it updated on its ongoing strategic review and has warned there could be little or no value left for shareholders. Story Here.

The group’s debt amounts to US$77.5mln.

Strategic Minerals PLC (LON:SML), down 10.67% to 0.34p. The diversified mineral developer updated yesterday on its quarter to end March.

It continues to focus on securing additional sales at the Cobre magnetite project, progressing legal claims associated with the rail upgrades there, monitoring the drill programme at Laverton and seeking an additional project opportunity.

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