4.10pm...Mixed day for miners
Randgold Resources Limited (LON:RRS) is leading the charge on the FTSE 100 as investors turn to such safe havens as gold after the US launched an air strike on Syria.
Defence contractors also rose on the news, including BAE Systems plc (LON:BA. and Rolls-Royce plc (LON:RR).
Miners focused on industrial metals are faring less well, including Rio Tinto plc (LON:RIO), due to a drop in iron ore prices.
2.35pm...Windar Phtonics shares blow higher
Shares in Windar Photonics PLC (LON:WPHO) soared on Friday after the wind sensors maker received a new order for 25 of its WindEYE LiDAR units from a newly-appointed regional distributor in China.
The Chinese market is an important one for the technology group given that four of the top ten wind turbine manufactures are based there.
Windar said today’s order also validates the decision it made last year to shake up its sales strategy and extend its regional distribution network.
News of the order – which is expected to be delivered before the end of June – sent shares 9% higher to 95.2p.
Tech group Microsaic Systems plc (LON:SYS) was also on a tear this afternoon after it signed an amendment to its research collaboration agreement with a “long standing global partner”.
The group said the amended agreement is a precursor to future collaboration in the area of bio-processing, in which it has a keen interest.
"We are delighted to sign this agreement with one of the foremost players in the global market for scientific instrumentation, which is in line with the company's strategy to focus on application areas in biopharma,” said interim chairman Eric Yeatman.
Elsewhere, Quadrise Fuels International PLC (LON:QFI) investors were jumping ship as the new, more environmentally friendly fuel produced by the AIM-listed group hit another snag.
Shipping line Maersk, which was testing the new product in one of its container ships until recently, has committed to using a different type of fuel.
Instead of filling its numerous vessels with Quadrise’s MSAR fuel, Maersk has indicated it will use a low-sulphur fuel to comply with a global sulphur cap which comes into force in 2020.
Quadrise said the trail had still been “successful to date” and hinted that it might look at developing a fuel which will comply with the new limits. Either way, shares slumped 33% to 5.96p.
10am...Gem Diamonds unearths another monster at Letseng
Gem Diamonds Limited (LON:GEMD) climbed 10% as it announced the recovery of a 114 carat, D colour Type II diamond of exceptional quality from the Letšeng mine in Lesotho.
It’s a big rock, but Letšeng is well-known for the production of large, top colour, exceptional white diamonds.
Since Gem's acquisition of Letšeng in 2006, the mine has produced four of the 20 largest gem-quality white diamonds ever recorded.
Investment software group StatPro Group PLC (LON:SOG) was also going well as it agreed to pay £11mln (€13mln) for risk and performance analytics service, UBS Delta - a deal that will be immediately earnings enhancing.
The deal will add annual revenues of £14.5mln, giving combined sales of £53mln.
Adjusted EBITDA from the acquisition is forecast to be in the order of £2-£2.5mln. Shares rose 10% to 99p.
Best of the early risers though was the acronym-hell of PCI-PAL PLC (LON:PCIP), which shot up 20% to 45.5p as it landed orders worth in excess of £550,000 with a couple of unnamed multi-nationals.
One order is for the UK and one for the US though both are for secure services for card payments.
“"We continue to see the market waking up to the effects of cybercrime and with the imminence of the General Data Protection Regulation driving PCI compliance we are well placed to capitalise on the opportunity. We look forward to updating the market in due course on further anticipated contract awards," said William Catchpole, chief executive.
Proactive news headlines
StatPro Group PLC (LON:SOG) has agreed to pay £11mln (€13mln) for risk and performance analytics service, UBS Delta - a deal that will be immediately earnings enhancing.
Advanced Oncotherapy PLC’s (LON:AVO) new lender, Bracknor Investment Group, has told the company it will convert another portion of the first tranche of convertible loan notes. Dubai-based Bracknor will convert ten notes, worth £100,000, into AVO shares at 27.89p each – a slight discount to yesterday’s closing price.
Bushveld Minerals Limited (LON:BMN) has completed its long-awaited acquisition of a 78.8% stake in Strategic Minerals Corporation, transforming it into a "significant player in the global vanadium market".
Strategic is the Evraz sUBSidiary that owns the Vametco open pit mine and processing plant , which is already next to to Bushveld's Brits Vanadium project in South Africa.
Shares in Windar Photonics PLC (LON:WPHO) soared in early deals on Friday after the wind sensors maker received a new order for 25 of its WindEYE LiDAR units from a newly-appointed regional distributor in China.
Denmark’s export credit agency, Eksport Kredit Fonden, is providing the financing for the order, which is expected to be delivered in the first half of this year. Once on site, the LiDAR units are expected to be installed and commissioned shortly after. Shares rose 13% to 99p.