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The Markets
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The Markets
by Proactive
Proactive UK has moved.
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Pharma & Biotech

Rolls Royce shares sold in afternoon trade as director hands in notice

A look at some notable risers and fallers on Friday morning

Engineer Rolls Royce (LON:RR.) was top laggard on Footsie as it revealed Alan Davies has resigned as a non-executive director and is stepping down from the Board with immediate effect.

Shares in Rolls tumbled over 5% to 664p.

He joined the board a year ago and was a member of the Nominations and Governance Committee, the Audit Committee and the Safety and Ethics Committee.

Chairman of Rolls Ian Davis said: "I am hugely grateful to Alan for the contribution he has made to the Board. His expertise and perspectives will be greatly missed. He has been a highly valued colleague and Board member".

Another notable gainer was Clear Leisure (LON:CLP) which was up almost 10% to 0.85p after it struck a lean deal with Eufingest S.A - a Swiss investor and major shareholder in the group.

Under the facility, Eufingest provides €300,000 at an interest rate of 2.5% a year and it is repayable on April 30, 2017. The proceeds will be used for working capital purposes and to retire subsidiary bank debt at a discount.

Provexis shares shoot up

Shares in Provexis plc (LON:PXS) shot up over 46% in mid-morning deals on strategic collaboration news, which will lead to new products.

The developer of the Fruitflow heart-health functional food product said its alliance partner had entered a deal with BY-HEALTH Co - a listed Chinese dietary supplement business.

The collaboration will target the creation of new products for people who are at risk of cardiovascular disease, particularly those over 40.

There are already more than 230mln people in China who are thought to have cardiovascular disease.

Meanwhile, base metals mining firm Anglesey Mining plc (LON:AYM) saw shares rocket up over 22% to 2.75p as it was upbeat about future potential in its half year results statement, not least due to the Donald Trump win and his commitment to building projects.

"With recent political developments in the UK and the United States, coupled with the likelihood of renewed stimulus investment in China, we feel that there is sound reason to believe that the future outlook for the commodity prices which are important to Anglesey Mining is very positive."

Mosman Oil & Gas plc (LON:MSMN) dropped 7.59% to 1.825p as it updated on current exploration.

CPPGroup top gainer at 10am

Top gainer in London was CPP Group (LON:CPP), which shot up almost 48% to 8p each.

The international assistance group added that it expects underlying operating profit for the full year to end December to be 'materially' ahead of previous forecasts.

This is down to among other factors, increased sales volumes in India, and the impact of a weaker sterling on European operations.

Another notable riser was multi-commodity group Strategic Minerals plc (LON:SML), which added over 11% to 0.48p after it updated on its September quarter.

It told investors that a new customer helped boost sales from its Cobre iron tailings operation in New Mexico.

Shipments to the new client began in mid-August and have carried through into the December quarter, the AIM firm said.

Sales in the three months came in at US$462,000 on the back of 7,686 tonnes produced.

On the losing front, Cape plc (LON:CIU), the industrial services provider, issued a trading update for the period 4 July 2016 to 30 October 2016, which was not well received.

Shares tumbled over 15% to 158.75p.

Meanwhile, in the big caps, miners were taking a pounding on FTSE 100 The biggest laggard was Randgold Resources Ltd (LON:RRS) down 6.33% to 5,700p.

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