Physiomics Plc (LON:PYC) was a strong performer in late afternoon trading, adding over 8% at 1.32p on news it has signed two new pre-clinical contracts with an undisclosed pharma company for its Virtual Tumour platform.
The contracts are for pre-clinical predictions using the platform relating to a new oncology target, marking the sixth year of collaboration with the client, Physiomics said. The two contracts will be executed in parallel between now and the end of the year.
Contract news was also a booster for Rosslyn Data Technologies PLC (LON:RDT), with its shares jumping 13.5% to 5.25p after the group said it has won three deals worth more than £3.1mln in aggregate over a three-year period.
In its most recent full-year results, the company’s revenue clocked in at £3.9mln, so the orders are significant ones for the provider of cloud-based enterprise data analytics.
Rosslyn said one of the three contracts is with a large enterprise that it has previously indicated it was close to winning.
And IronRidge Resources Ltd (LON:IRR) shares rose 7% in to 33.75p after the explorer told investors that ongoing trenching and mapping at the Bakari licence in Ghana, continues to encounter lithium mineralisation.
The licence hosts the Ewoyaa and Abunko projects where the company has been carrying out the field exploration work ahead of a maiden drill programme later this year.
12.45pm: Tobacco stocks a drag again after US FDA nicotine warning on Friday
Cigarette makers Imperial Brands PLC (LON:IMB) and British American Tobacco plc (LON:BATS) were the two biggest FTSE 100 fallers at lunchtime, down 5.6% to 3,130p and 4% to 4,762.5p respectively, still impacted by the US Food and Drug Administration's announcement on Friday that it would cut nicotine in cigarettes to non-addictive levels.
Deutsche Bank’s analysts, however, said the sharp stock reaction could be a buying opportunity in the tobacco sector, while analysts at Morgan Stanley said the new regulation looked "extremely ambitious, in many ways impractical".
Elsewhere, blue chip engine maker Rolls Royce PLC (RR.L) was also weak, down 3.1% to 900p ahead of interim results due tomorrow, amid reports the company had told investors it may not hit its cashflow target of £1bn by 2020.
Away from the blue chips, SRT Marine Systems PLC (LON:SRT) saw its shares drop over 20% to 34.5p after the maker of vessel tracking technology said a key supply contract will be postponed until next year.
The AIM-listed company said the contract to supply a maritime domain coastguard system in southeast Asia which was agreed in March 2016 has been postponed and is expected to restart during the end of its customers new financial year beginning March 1, 2018.
And Shares in Utilitywise plc (LON:UTW) also lost over 20% to 47.0p after the company warned of a material impact on 2017 revenue and profits due to changes in its accounting policies.
The AIM-listed firm, which supplies electricity, water and gas, said it will suspend its full year dividend as it adopts new accounting standard IFRS 15 from tomorrow.
11.45am: Trading Emissions boosted as subsidiary sells part of its Italian solar portfolio
Among the market’s biggest gainers in late morning trading was Trading Emissions PLC (LON:TRE), up over 16% to 2.5p after the AIM-listed renewable energy investment firm said its subsidiary, TEP (Solar Holdings) Ltd will sell a portion of its Italian solar portfolio to a member of the Sonnedix Group.
Trading Emissions said the sale of RGP Puglia 1 Srl and Florasolar Srl comprise four ground-mounted solar photovoltaic plants, two located in Casamassima and one in each of the Municipality of Nardo and the Municipality of Floridia, with a combined capacity of approximately 5 megawatts.
The group said the total proceeds from the sale are estimated to be €3.0mln.
Elsewhere on AIM, which Keras Resources PLC (LON:KRS) was also a good riser, adding 13% at 0.43p after the firm revealed that Calidus Resources Limited - in which Keras holds a 31% interest - has announced further consolidation of the Warrawoona gold project in the Pilbara of Western Australia.
Calidus has acquired a 50% interest in exploration licences E45/4555 and E45/4843 located in the Warrawoona gold belt.
And Strategic Minerals PLC (LON: SML) gained 9.7% at 1.98p after it said it will add two new holes to Phase 1 of the drilling programme at the Redmoor tin and tungsten project in Cornwall to be undertaken by joint venture vehicle Cornwall Resources Limited.
The cost will be funded equally by Strategic Minerals and partner NAE, who will jointly subscribe for a further £60,000 in equity in Cornwall Resources.
9.45am: Broker upgrades boost blue chips Severn Trent, United Utilities, and Royal Mail
Water utility Severn Trent PLC (LON:SVT) was a top FTSE 100 gainer in early trading, up 3.7% to 2,231p after Canadian broker RBC Capital double upgraded its rating to ‘outperform’ from ‘underperform’.
In a note to clients, RBC’s analysts said the upgrade reflects the fact that Severn Trent’s current trading valuation implies a total return that compares favourably against the rest of the utilities sector.
They also noted that regulator Ofwat’s improved clarity on returns and costs benchmarks should also benefit the group.
RBC also upgraded its rating for peer United Utilities PLC (LON:UU) to 'outperform' from 'sector perform' as it believes the market has overpriced the downside risks for the stock, which gained nearly 3% at 897p.
A broker upgrade also propelled Royal Mail Group PLC (LON:RMG) higher, up 1.4% to 402.4p, as HSBC Securities raised its rating to ‘buy’ from ‘hold’ after recent results.
And on the second line, engineer Laird PLC (LON:LRD) got a boost from JPMorgan Cazenove, which raised its rating to ‘overweight’ from ‘neutral’ after interims last week which were above its expectations.
Proactive news headlines:
Premier African Minerals Limited (LON:PREM) has arranged a new financing package to provide working capital and to increase its stake in fertiliser project developer Circum. The additional 1% stake in Circum is costing Premier African roughly US$1.3mln, with the money to come from a £2.9mln new loan agreement and a combined £4.8mln subscription at 0.7p and £3.3mln stand-by facility that will give it access to a further net £1.5mln.
Powerhouse Energy Group PLC (LON:PHE) today reported a very successful test of its gasification reactor. The company said it recorded a maximum peak flow rate of over 50 cubic metres per hour of synthesis gas (syngas), having successfully completed the rebuilding and enhancement of the company's G3-UHt gasification reactor at the Thornton Science Park in Chester.
Regenerative medicines specialist WideCells Group PLC (LON:WDC) said it had been granted a research licence from the UK's Human Tissue Authority, which chief executive João Andrade said opened up a “new dimension” for the company.
Alliance Pharma PLC (LON:APH) on Friday told investors that the UK healthcare regulator has not approved a marketing authorisation submission for Diclectin. The product is a treatment for nausea and vomiting during pregnancy.
Cloud-based portfolio analytics provider StatPro Group PLC (LON:SOG|) has signed a three-year contract with FundBPO Pty, one of Australia’s leading independent fund administrators.
Cloud-based enterprise data analytics platform operator Rosslyn Data Technologies PLC (LON:RDT) has won three contracts worth more than £3.1mln in aggregate over a three-year period.
Redx Pharma PLC (LON:RDX) is expected to exit administration after selling its Bruton’s tyrosine kinase (BTK) inhibitor technology and drug development programme for US$40mln. The deal was struck on Friday with NASDAQ-listed Loxo Oncology Inc (NASDAQ:LOXO).
Shares in Brave Bison Group PLC (LON:BBSN) stampeded higher after the digital media & social video business narrowed losses at the half-year stage. Net revenue in the first half of 2017 shrank to £6.00mln from £9.69mln the year before but the gross profit margin shot up to 48% from 39% the previous year.
Falcon Media House (LON:FAL) has boosted its assets and signed a number of partnerships in the over-the-top (OTT) video streaming market since it began trading in London last year. The group, which listed on the main market of the London Stock Exchange in January 2016, has in the past year announced tie-ups with several companies including Tata Communications, LaserNet Group, Verimatrix and Media Nucleus.
Mining royalty business Anglo Pacific Group PLC (LON:APF) revealed a steep rise in free cash flow as it reported a trading update for the six months to July 31. Anglo Pacific said that free cash flow for the half would be between £18.5mln and £19mln, compared to £4.7mln in the same period of 2016.
Strategic Minerals PLC (LON: SML)(USOTC: SMCDY) will add two new holes to Phase 1 of the drilling programme at the Redmoor tin and tungsten project in Cornwall to be undertaken by joint venture vehicle Cornwall Resources Limited.
Advanced Oncotherapy PLC (LON:AVO) has reached another milestone in the development of its first LIGHT system, a next-generation proton therapy unit. For it has announced the final coupled cavity linac (CCL) module is ready for shipment to the Geneva testing facility.
Silence Therapeutics PLC (LON:SLN) has broadened its patent estate in the US with the grant of further protection over its chemical modification technology. It is part of an ongoing process as it eyes companies with drugs in clinical trials that may be piggybacking on its intellectual property.
Victoria Oil & Gas PLC (LON:VOG) highlighted an 11.9% rise in gross gas production from the Logbaba project, in Cameroon, as it reported on its operations in the second quarter. The company said production averaged 14.59mln cubic feet of gas per day during the three months ended June 30, up from just over 13mln cubic feet per day in the same period of 2016.
China-focused Green Dragon Gas Ltd (LON:GDG) told investors that the development of the Greka Shizhuang South project will be expedited, thanks to a regulatory decision. The company said that the China National Development and Reform Commission (NDRC) has approved a project code for the development plan and that means that the separate approval process won’t be needed.
Production at the Kiziltepe mine has come in at 1,370 ounces of gold and 6,780 ounces of silver for the month of July, following a successful start-up earlier this year from owner Ariana Resources PLC (LON:AAU).
Keras Resources PLC (LON:KRS) has increased its exposure to the Warrawoona gold project in Australia through an acquisition of licenses undertaken by 31%-owned investment Calidus Resources.
The growing value of its holding in med-tech portfolio company Belluscura has prompted a surge in profits at IP firm Tekcapital PLC (LON:TEK). TekCapital has a 48% stake in Belluscura, a firm that makes a number of devices used in surgery and that is likely to list separately in the near future.
Pan African Resources PLC (LON:PAF) is selling its Phoenix Platinum subsidiary to Sylvania Resources for a total cash consideration of 89mln rand (£5.21mln).
Ferrum Crescent Limited (LON:FCR) executive chairman, Justin Tooth said today that the miner is looking forward to receiving assay results from its key lead/zinc Toral project in Spain, which are currently anticipated within the next 6 week.
Due diligence currently being undertaken by Thor Mining PLC (LON:THR) on its option to acquire the remaining 75% of US Lithium Pty Limited remains ongoing. US Lithium is a private Australian company with interests in lithium-focused projects in Arizona and New Mexico in the United States of America.
Premier Oil PLC (LON:PMO) has completed the Zama-1 exploration well, offshore Mexico, and has confirmed the potentially very significant new discovery.