10:30am: Broker downgrades send Royal Mail PLC and Babcock International Group Plc
Royal Mail PLC (LON:RM) shares were down just over 4%, changing hands at 424p, as not one but two brokers downgraded the postal group - Deutsche Bank and Jefferies both marked Royal Mail down.
Elsewhere, a broker downgrade also had Babcock International Group Plc (LON: BAB) lower, as it slipped 21p or 3% to 675.5p.
Destiny Pharma plc (LON:DEST) shares gained 24p or 20% to 139p as it unveiled a new tie-up with a Chinese partner, including a £3mln equity investment.
Firestone Diamonds Plc (LON:FDL) shed around 30% to 13.5p, accounting for a new £18.5mln equity funding.
9:35am: Heat comes out of Physiomics, blue-chip banks on the back foot
An amount of heat was always liable to come out of the Physiomics Plc (LON: PYC) price after the group soared to a four-figure percentage gain over the past few days.
On Friday, the medical technology stock was down 15% changing hands at 14.65p - they started the week at less than a penny.
Figurine firm Games Workshop Group Plc (LON:GAW) advanced 134p or 6.8% to trade at 2,092p after it told investors that revenues and earnings rose sharply in the first half.
Royal Bank of Scotland Plc (LON:RBS) shares were down 1.1% to 273.4p as the high street bank announced it is to cut a further 259 branches and shed 680 jobs as its move online steps up a gear.
The closures follow the shutting of 180 outlets earlier in the year in what is shaping to be a record year for branch closures among all of the UK banks.
Elsewhere, Barclays Plc (LON:BARC), down 1.3% to 191p, cut its stake in its Africa division as part of its strategy to focus on its core businesses in the UK and the US. The lender’s shareholding in Barclays Africa Group Limited (BAGL) will fall to 14.9% from 21.9%, which is expected to be completed on 5 December.
Proactive news headlines:
Rose Petroleum PLC (LON:ROSE) has completed the sale of its processing mill in Mexico to Magellan Gold Corporation (OTCQB: MAGE). Total consideration was US$1.5mln, of which US$1mln was in cash that has now been received. The remaining US$500,000 will be met through shares in Magellan and will represent a 15% stake. Magellan has an option to buy the shares back.
LEKOIL Limited (LON:LEK) told investors that production from the Otakikpo field averaged 6,400 barrels of oil per day in October, and the rate is now about 7,600 bopd. The company highlighted the ramp-up since production resumed at 5,000 bopd in February this year, and noted that it is advancing towards its first target of 10,000 bopd – before phase two of the project which targets further growth to 20,000 bopd.
Diversified Gas & Oil plc (LON:DGOC) has stuck a deal to acquire 550 wells in central Ohio. It is paying US$3.1mln for the portfolio which accounts for some 1.3mln cubic feet of gas or 220 barrels oil equivalent net production per day.
Victoria Oil & Gas plc (LON:VOG) has completed the drilling operations for the La-108 well at the Logbaba gas field in Cameroon, after electrical problems were rectified. A production tree will soon be installed prior to testing and the production well’s start-up.
Alliance Pharma plc (LON:APH) has acquired all of the rights to an anaesthetic gel product, Ametop from FTSE 100 listed medical technology business Smith & Nephew PLC (LON:SN. for a consideration of US$7.5mln. John Dawson, Alliance Pharma's chief executive, said: "The acquisition will be immediately earnings enhancing, accretive to our underlying return on invested capital, and it fits well in our existing bedrock business operations."
Faron Pharmaceuticals Oy (LON:FARN), one of a small handful of London-listed drug developers with a product in phase III clinical trials, said it has appointed a chief commercial officer. Dr Juhana Heinonen will join the business in January from AstraZeneca where he was global marketing director for Fasenra, the company’s asthma treatment.
Internet domain names specialist CentralNic Group PLC (LON:CNIC) said the terms of its deal to acquire SK-NIC have been altered, though the headline value of the takeover remains the same at €26.12mln. The current owners of the business, which manages the exclusive country code top-level domain for Slovakia, .SK, will receive €20.27mln upfront rather than €21.27mln. Deferred payments will be slightly higher at €5.85mln and extended out to 2023.
ADES International Holding PLC (LON:ADES) has revealed that bidding activity remains strong with a number of tenders expected to close in the next three months as the oil services group reported over a 30% jump in nine month revenues and said it is continuing to review acquisition opportunities.
Tissue Regenix Group PLC (LON:TRX) said on Friday chief financial officer Paul Devlin will step down and the medical device company has started the process to appoint a successor. Steve Couldwell, who was named as chief executive in November, said: "Paul played a significant role throughout the fundraise and acquisition process, we wish him every success in the future."
Galantas Gold Corporation (LON:GAL (TSXV:GAL) has said it private placement raise a gross amount of C$1.1658mln (£682,859), in line with the terms and proposed placing price previously outlined on 15 November 2017. The gold producer and explorer with a 100% interest in Northern Ireland's Omagh gold mine added that 16.655mln common shares were placed, with UK placees subscribing at a price of 0.041p per share and Canadian placees at a price of C$0.07 per share.