3.45pm...The world's lowest profile supercapacitor
Cap-XX Limited (LON:CAPX) was the pick of the afternoon risers after the supercapacitor-maker confirmed that its licensee had successfully launched a new product.
Japan-based Murata today unveiled the world’s lowest profile supercapacitor, with a width of just 0.4mm.
The product is for peak power assist – when high power is momentarily needed – which is required more and more in wearable tech and other smart devices.
The product is being launched this week at the Consumer Electronics Show in Las Vegas, with production slated to begin next month.
11.15 am ... Delayed contracts drag ...
Mobile data solutions firm Touchstar PLC (LON:TST) was the market’s biggest faller mid-morning, dropping almost 22% to 82.5p after its warned that its 2016 profits will only just break even after some clients delayed contracts.
The AIM-listed firm, which changed its name last year from Belgravium Technologies, said it had endured a "difficult end" to the year, not only with deferred orders but as it had to provide for a significant bad debt.
However, Touchstar attempted to reassure investors by saying its board is “comfortable” with the current market expectations for 2017.
On the upside, Kolar Gold Ltd (LON: KGLD) looked pretty, up 10% at 1.05p as it advanced its move into Finland and its bid to tap into the country's precious metal potential.
As reported last October, the group struck a joint venture deal with Mineral Exploration Network (MENF) to develop gold exploration and mining assets via a new operating company, of which Kolar could go onto own 50%.
Following an upfront cash payment of €150,000, Kolar has now issued 8.5mln new shares to MENF in return for 150 shares in Kalevala Gold Oy. Kolar now owns 15.4% of Kalevala.
09.30am ... Land sale boost ...
Dubai-based investment company Tejoori Ltd (LON:TJI) was the top market gainer in early morning trading, jumping over 20% higher to 0.4p after it said it is in talks to sell its remaining interest in a development in the Arab emirate for US$5.8mln.
The company has signed an memorandum of understanding with property sector investor Mohammad Ali Abdulla to sell the asset, which covers a plot of land in Al Barsha South Third in Arjan, a commercial and residential property community development in Dubai.
Industrial services group Cape PLC (LON:CIU) also saw strong demand, adding over 15% at 176p after it said that it anticipates its full-year results will be “materially” ahead of market expectations.
Cape said it saw strong trading across its three regional businesses in the last two months of 2016, and has also seen strong cash generation which will have a positive impact on its net debt
And crockery maker Churchill China PLC (LON:CHH) took on 10% at 945p after it also predicted that its 2016 results will beat market forecasts.
The ceramics group said trading in the fourth quarter was ahead of its expectations, with its performance in export markets remaining strong, driven by favourable exchange rates and new product launches.
Not so sweet ...
But sugar substitute ingredients manufacturer PureCircle Ltd (LON:PURE) was a big faller, with its shares shedding over 10% at 225p after it warned that it expects to swing to a first half loss as a result of the detainment of some of its shipments by US Customs & Border Protection.
PureCircle, which produces and markets natural sweetener stevia, said it expects to post a net loss of US$2.0mln for the six months to December 31 2016, down from a US$5.0mln profit at the same stage in the previous year.
The group said this was a "direct consequence" of the detainment of its shipments before entering the US, which it previously announced in June 2016.