Small cap Galileo Resources PLC (LON:GLR) soared higher in late afternoon trading, jumping 31% to 9.38p after the explorer announced it has completed its initial drilling programme at its Concordia copper project in the Northern Cape Province of South Africa.
The programme was initially supposed to comprise up to six reverse circulation drill holes, but Galileo ended up drilling 14 holes in the Homeep and Shirley trends totalling 2,170 metres.
The first set of analytical results on the samples is due by the end of this month, while a second set is expected by the end of June.
READ: Galileo Resources shines as it completes exploratory drilling
Elsewhere, Summit Therapeutics PLC (LON:SUMM) advanced by nearly 8.5% to 192.5p after it revealed it has triggered a US$22mln milestone payment under its licence and collaboration deal with Sarepta Therapeutics Inc, after completing enrolment in a phase II trial.
Summit said enrolment has been completed for a phase II proof of concept trial with ezutromid in patients with Duchenne muscular dystrophy.
The study will see to provide proof of concept for ezurtromid through the measure of endpoints related to muscle structure, health and function.
READ: Summit Therapeutics to receive US$22mln milestone payment
And Mortice Ltd (LON:MORT) locked in gains of over 8.5% at 100p after the security and facilities management firm said it expects to report earnings and revenue "materially above" current market forecasts for its recently ended financial year.
1.55pm: Medilink Global drops on AIM cancellation confirmation
Medilink Global UK Limited (LON:MEDI) saw its shares plunge by 30% to 0.9p after the electronic health card network service provider said it will continue to proceed with the cancellation of its shares from trading on AIM.
The company announced last year that it would delist from AIM, but in November revealed that one of its major shareholders had indicated that it would not support the delisting.
However, Medilink said today that it understands the shareholder's disapproval "is no longer the case", and therefore will proceed with the cancellation.
Among the blue chips, TUI Group PLC (LON:TUI) dropped over 4% lower to 1,143p after Europe's largest tour operator said "challenging" conditions had driven it to a wider loss in its second quarter.
The company maintained full-year targets, however, saying travel to Spain, Greece and the Caribbean was offsetting a slowdown in Turkey and North Africa, and said its summer trading was in line with expectations.
Back among the small cap fallers, miner Lonmin PLC (LON:MIN) missed out on the sector gains today, shedding 4.7% at 107p after reporting a first-half operating loss, hit by higher costs and lower production.
READ: Lonmin slumps as it reports disappointing first quarter production
Production fell 7.6% to 387,000 tonnes in the six months ended 31 March, reflecting the planned removal of particularly high-cost production and labour problems at its Karee 3 shaft in Marikana in Rustenburg
But on the up, mid-cap cybersecurity services firm Sophos PLC (LON:SOPH) jumped 8% higher to 369.1p boosted after the weekend ‘ransomware’ attack hitting hospitals and schools which it numbers as customers.
Sophos was also helped by a price target hike from Deutsche Bank, to 350p from 290p, in a preview of full-year results due on Wednesday, May 17.
12.30pm: Cybersecurity stocks get a 'ransomware' boost
Shares of cyber-security companies were in demand today following the “Wannacry” computer virus attack over the weekend, which was reportedly disseminated with the aid of software developed by the US National Security Agency.
Among the small cap players, the big gainer by lunchtime was Ecsc Group PLC (LON:ECSC), up 19.4% at 472.5p, while Corero Network Security PLC (LON:CNS) jumped nearly 13% higher to 8.75p, and NCC Group PLC (LON:NCC) gained 3.3% at 142.5p.
Cyber-security specialists are bracing themselves for new versions of the computer “worm” – so-called because it burrows its way deep into computer systems – to materialise in the coming day.
As a Linux user, I would be feeling smug about the weekend's PC crisis, only a power surge fried my motherboard :(. https://t.co/z1VOfeXGzV
— John Harrington (@JournoJohnH) 15 May 2017
US software giant Microsoft Corp. (NASDAQ:MSFT) has issued a security patch to address the issue that EternalBlue exploits, but an estimated one million computers are out there that have not downloaded and applied the patch.
11.15am: N4 Pharma shares surge on generic viagra move
There was a strong reaction today to news from N4 Pharma Plc (LON:N4P) that it has filed a patent application for its generic version of erectile dysfunction treatment sildenafil, which is sold by US giant Pfizer Inc (NYSE:PFE) as blockbuster drug Viagra,
By mid-morning, N4 shares were over 20% higher at 9.5p as the AIM-listed firm said it has been working on a reformulated version of sildenafil and has filed a patent to protect its reformulation methodology.
It added that the next step will be to move the product towards clinical trials, and N4 Pharma said it is in the process of discussing the parameters for those trials.
WATCH: 'We're not a one-trick pony', says N4 Pharma boss
N4 Pharma said it has also filed new patent applications for reformulation of two other drugs, the first an anti-depressant drug paroxetine, to develop a new product to treat hot flashes and night sweats in menopausal women, and the second for another anti-depressant drug duloxetine, for the treatment of premature ejaculation.
Elsewhere, Eco Animal Health Group Plc (LON:EAH) saw its shares gain over 11% to 560p after the group said its full-year pre-tax profit is likely to significantly exceed market expectations.
The producer of animal health pharmaceuticals also predicted that it will exceed market expectations for revenue for the year.
But among today’s biggest fallers, online gaming group 888 Holdings PLC (LON:888) dropped nearly 7% lower to 277.5p after it said the UK Gambling Commission is conducting a review into one of its subsidiaries.
Specifically, 888 said, the review will assess certain measures the subsidiary uses to ensure social responsibility to its customers, including effective self-exclusion tools across different operating platforms.
9.45am: Higher death rate boosts funerals group Dignity
Funerals group Dignity PLC (LON: DTY) was the top FTSE 250 gainer in early morning trading, jumping over 8% higher to 2,740p after it reported solid growth in revenues and operating profits for the first quarter due to a higher death rate.
Dignity said its revenue in the three months to the end of March rose to £93.3mln, up from £81.2mln a year earlier, with underlying operating profit increasing to £37.4mln from £31.1mln.
The group said the number of deaths in the period increased to 167,000 from 156,000, but predicted that the number of deaths in 2017 on the whole will be lower than 2016.
Elsewhere, AIM-listed Bilby PLC (LON:BILB) was even stronger after a trading update, gaining 15% to 69p as the building services provider upgraded its forecasts for the year just gone after getting to work on several contracts earlier than expected.
Bilby said that a number of contracts were due to start in the current financial year but the clients had asked to bring the start date forward.
READ: Bilby booms as it upgrades forecasts for year just gone
That meant the revenues generated from those jobs was realised in the year just gone as opposed to the current year.
Galantas Gold Corp. (LON:GAL) was also a good AIM gainer, adding 8.9% to 6.13p after the firm said the Police Service of Northern Ireland (PSNI) has agreed to supervise transportation and the use of certain rock-breaking materials and explosives in relation to the development of its Omagh mine for three days a week, two hours per day.
READ: Underground mine development at Omagh to commence shortly, says Galantas
The firm said this will be enough to allow underground development at Omagh to get underway, although Galantas does caution that more PSNI man-hours will be required for a longer-term and more sustainable development programme.
And RedX Pharma PLC (LON:REDX) was in demand as well, rising over 11.5% higher to 33.75p after confirming it will make a clinical trial application and investigational new drug application for its RXC005 leukaemia treatment later this year.
Proactive news headlines…
Sirius Minerals PLC (LON:SXX) has started detailed discussions with a number of new offtakers for its polyhalite fertiliser it told analysts at a visit to its site in Yorkshire last week. Richard Knights, at house broker Liberum and one of the those that visited the site, said Sirius is now undertaking multiple, detailed conversations with major potential offtakers.
Lithium explorer Bacanora Minerals Ltd (LON:BCN) has strengthened its board as it pushes ahead with feasibility studies at key projects, Sonora in Mexico and Zinnwald in Germany. Joining as non-execs are Andres Antonius, based in Mexico City and a country specialist and former government adviser, while Junichi Tomono is head of the Japanese trading giant Hanwa Co, which recently signed an offtake deal with Bacanora.
Haydale Graphene Industries PLC (LON:HAYD) has bought out the outstanding minority of US subsidiary Haydale Technologies Inc from InVentures for US$513,500. The price for the 13.5% interest stake was determined by an independent valuation conducted on HTI, which included the acquired nanomaterials business, Advanced Composite Materials.
Caledonia Mining Corporation PLC (LON:CMCL TSE:CAL) has reported a fatality at the Blanket gold mine in Zimbabwe. Mining at Eroica ore body, which contributed 10% of production in the last quarter, was briefly suspended
Peter Hambro will not stand for re-election as chairman of Petropavlovsk PLC (LON:POG), after the company decided as development continues the appointment of an independent chairman would be more appropriate for corporate governance purposes. Under existing proposals from the company, Hambro would remain as a director and Andrew Vickerman, a director with Trafigura, would become chairman.