Online gaming group Webis Holdings PLC (LON:WEB) was a casualty even though half year results showed reduced losses and more than doubled turnover.
Sales increased by 118% to US$148mln, while losses were reduced to US$220,000 from US$720,000.
Webis though also highlighted the low margins, despite high volumes, through its racetrack betting pool operation WatchandWager, while its harness racing operation in Sacramento has seen lower betting volumes than expected and poor attendance due to the weather.
Shares tumbled 21% to 1.74p.
Virtual secondary school operator Wey Education PLC (LON:WEY) expects to report turnover for the six months to 28 February 2017 approximately 50% higher than the corresponding period last year.
The AIM-listed firm also said its trading result for the period is expected to be “significantly better than the corresponding period in 2015/16.” Shares rose 7% to 5.2p.
Shares in biotechnology group ValiRx Plc (LON:VAL) added 12% to 4.35p as two peer-reviewed journal articles for its work in developing cancer treatments were published.
The articles examine drug reprofiling in oncology and the progress of the company's novel cancer drug, VAL401, in clinical efficacy trials for the treatment of lung cancer and other areas of oncology.
1pm,...Red Leopard streaks higher as Chris Akers takes control
AIM stalwart Chris Akers is the new cornerstone investor in Red Leopard PLC (LON:RLH) sending shares in the erstwhile silver miner and now cash shell rocketing.
Akers is still widely followed for his canny trick in 2000 of selling a £25,000 internet start-up to Sky for £300mln, though his latest vehicle Concha PLC (LON:CHA) hasn’t fared half so well after a expected global deal failed to materialise.
At Red Leopard, Akers is investing £250,000 through a subscription at 0.1p to give him a 29.9% stake. He will help identify new investment opportunities.
Simon Wharmby has been appointed as a non-executive director, while Beaumont Cornish is the company’s new nominated adviser after Northland resigned last week. Shares jumped 300% to 0.16p.
Lighthouse Group PLC (LON:LGT) was also flying the flag for the junior market and rose more than 7% to 15.5p after the financial adviser extended its existing range of funds from its wholly-owned subsidiary, Luceo Asset Management.
Likewise, SpaceandPeople Plc (LON:SAL) also enjoyed a decent run this morning and was trading 14% higher at 20p after it inked an exclusive deal with Primesight.
The tie-up will see SpaceandPeople promote brands and manage promotional space across Primesight’s airport portfolio in the UK.
9.30am ...Cobalt angle gets Strategic Minerals motoring
Strategic Minerals PLC (LON:SML) rocketed higher as it reported a high cobalt content in re-worked assays at its Hanns Camp licence in Australia.
Cobalt is being mentioned in the same breath lithium in some quarters giving its use, like the soft metal, in batteries for renewable energy storage and to power electric vehicles.
John Peters, managing director, said: "The confirmation of the potential for a significant cobalt deposit comes at a time when investors are showing an increasing interest in cobalt projects to feed the supply of lithium ion batteries in electronic equipment.
“The identification of these cobalt readings in two of the 2016 drilling cores is extremely encouraging as their positioning provides us the opportunity to further assess the possible exploration target at a reasonable capital cost.”
Shares rose 17% to 0.95p.
Defence companies were on the rise ahead of a speech by US President Donald Trump later this evening. Meggitt plc (LON:MGGT) plc's (LON:MGGT) upped its full year dividend and said it expects improved revenue growth in 2017 as the new US administration plans to boost defence spending.
The engineer, which specialises in aerospace, defence and energy markets, reported a 7% drop in statutory pre-tax profit in the year to 31 December 2016 to £195.5mln.
Aerospace and car part group GKN (LON:GKN) was another gainer as full year profits rose by 12% and the dividend was nudged higher. Military sales rose strongly and the engineer expects another strong year in 2017.
Sphere Medical PLC (LON:SPGT) was a heavy faller as a good reaction so far to its newly launched Proxima 4 blood monitoring system was overshadowed by a comment that it is looking at financing options. Shares fell 18% to 5.2p.
Proactive news headlines
Pumps and motors specialist Hayward Tyler Group PLC (LON:HAYT) said the deadline for repayment of its short-term banking facilities has been extended from 28 February to the end of March. Shares were 39.2p.
Intellectual property developer Tekcapital PLC (LON:TEK) is backing the development of a next generation portable oxygen concentrator, in conjunction with Separation Design Group, a leading research laboratory in the field of oxygen concentrators. Sahres were flat at 43.8p
Faron Pharma (LON:FARN) has raised £5mln in premium share placing. Shares rose 2% to 355p.
Medusa Mining Limited (ASX:MML, LON:MML) fell 0.035p to 0.34p after it lowered production guidance for the current financial year. The Philippines-focused gold miner said production in the fourth quarter of 2016 had been hit by additional maintenance work on a production shaft.
India-based power utility OPG Ventures (LON:OPG) is trading in line with expectations, send its shares 1% higher to 53.6p.