Shares in oil services speacialist John Wood Group PLC (LON:WG. added over 10.5% to 649.05p on Friday as the market cheered its AGM statement.
The company revealed it had seen good trading momentum across its businesses in the first quarter and its outlook for 2018 remains unchanged.
The FTSE 250-listed firm said its performance in the first quarter has been led by its Asset Solutions Americas business, driven by capital projects activity in power, downstream, chemicals and US shale.
"The first quarter has demonstrated the significant benefits of the operational platform we have created. Our integration programme is ahead of schedule and we are seeing good momentum in trading, cost and revenue synergy delivery. Our overall outlook is unchanged and we are confident of returning to growth in 2018," said Robin Watson, chief executive.
Meanwhile, Cadence Minerals Plc (LON:KDNC) added 4.54% to 0.23p in London trade after it told investors that Auroch Minerals had announced high-grade zinc and gold results from its Bonaventura project in South Australia.
Reconnaissance rock-chip sampling at the site has confirmed high-grade zinc - plus lead, copper and silver - mineralisation at the Grainger Target area, the firm said.
"The results from the recent sampling at the Bonaventura Project are very encouraging and we are pleased Auroch Minerals is advancing its rapid exploration programme on schedule in order to systematically evaluate multiple target areas during 2018," said Kiran Morzaria, chief executive of Cadence.
11.30am Crawshaw Group sizzles higher..
Crawshaw Group PLC (LON:CRAW) added almost 12% on the day as it unveiled management changes at the top.
The UK’s value butcher said Jim Viggars had been named as chief executive officer and Nick Taylor as chief financial officer with effect from May 21 this year.
The AIM-listed firm said Viggars has over 30 years’ experience within the meat industry and was the head of the Fresh Meat Department at UK supermarket ASDA.
He will replace Noel Collet, who will step down to pursue other opportunities
Taylor served as CFO of Janan Meat, the UK’s premier dedicated Halal Lamb and Mutton meat processor and was finance director of the Egg products division at Noble Food Group and held a variety of roles at ABP Food Group.
Shares in Crawshaw added almost 12% to 5.15p.
Meanwhile, Falcon Media added 18% to 2.95p as it told investors it had brought in a further £200,000 of additional capital through the issue of convertible loan notes.
It takes the group’s cash fund raising from convertible notes up to £3.13mln.
Falcon describes itself as a global digital media group focused on the over-the-top (OTT) market, namely where the streaming provider sells content directly to a consumer via the internet, avoiding broadcasting or telecoms.
9.15am: Property stock shares build higher
Property stocks were in the frame on Friday and portal OntheMarket PLC (LON:OTMP) added over 8% in early deals to 150.24p, while Zoopla Group parent company ZPG Plc (LON:ZPG) also soared
OnTheMarket listed on AIM in February and has already doubled its field sales team, it revealed last week.
The company also said it had signed listing agreements with estate agents with more than 7,500 UK estate agency offices.
Also raising the roof on Friday, was Zoopla Group parent company ZPG (LON:ZPG), whose shares shot up nearly 30% to 486p in early deals as it emerged that US firm Silver Lake has offered to buy the group for £2.2bn.
The California-based venture capital group has made an all cash offer of 490p per share, representing a premium of 31% to the closing price of ZPG’s stock yesterday (May 10).
Zoopla's largest shareholder DMGZ, a group company of the Daily Mail and General Trust (LON:DMGT) which owns almost 30%, has already given irrevocable undertakings to accept the deal.
DMGT shares were also up 4.78% to 745p on Friday morning.
Alex Chesterman, the founder and chief executive of ZPG, said the group would benefit from Silver Lake’s technology expertise and global network.
ZPG also owns online businesses such as uSwitch and PrimeLocation.
Another notable riser was cancer-focused group Advanced Oncotherapy PLC (LON:AVO) which gained over 13% to 59.5p in London trade after it received the first payment relating to its exclusive distribution agreement with partner company Yantai Cipu.
The AIM-quoted firm said the £6.5mln payment from Yantai had been received through its affiliated entity Liquid Harmony, with the remaining balance of £10mln to be received in the coming weeks.
Proactive news headlines:
Advanced Oncotherapy PLC (LON:AVO) has received the first payment relating to its exclusive distribution agreement with partner company Yantai Cipu. The AIM-listed cancer treatment developer said the £6.5mln payment from Yantai had been received through its affiliated entity Liquid Harmony, with the remaining balance of £10mln to be received in the coming weeks.
Westminster Group PLC (LON:WSG) confirmed last night that its long-awaited airport security contract had put been on hold due to the US withdrawal from the Iranian nuclear deal. The security group had not previously identified the country but confirmed last night the contract was for one of Iran’s 60 airports.
Faron Pharmaceuticals Limited (LON:FARN) said early follow-up analysis of its unsuccessful Phase III clinical trial suggests the treatment did not produce the expected interferon-beta bioactivity seen in the Phase I/II study. The company said it is still too early to understand why this was the case, but it cited a number of possible causes. It is investigating the formulation of the drug, its administration and deactivation.
Avation PLC (LON:AVAP) has announced that it has extended the lease for an Airbus A320 aircraft by a further seven years. The company said the lease for the aircraft was due to expire on 18 May 2018 but has now been extended to 18 May 2025 with the existing operator.
Six new wells have been spudded at Highlands Natural Resources PLC’s (LON:HNR) East Denver oil and gas project in the US state of Colorado. Work began on the wells – named Buckskin, Citadel, Hagar, Ouray, Thunder and Grizzly – last month and was funded by Highlands’ partners at the project.
Canadian Overseas Petroleum Ltd (LON:COPL) (CVE:XOP) highlighted “significant progress” as it released an update for the first quarter ended March 31. The oil and gas junior is working on a financing package for OPL 226 for its appraisal and development project offshore Nigeria, as well as the required necessary government consents.
Falcon Oil & Gas Ltd (LON:FOG, CVE:FO) highlighted its strong position as it filed interim financial statement for the three months ended March 31. The company boasted a cash position of US$8.5mln and noted that it is debt free.
Lionsgold Limited (LON:LION) shares will be suspended from the start of London trading today following its acquisition of TRAC Technology, which is now called Goldbloc Limited. As revealed last month, the firm has 55% of TRAC Technology, which has developed Goldbloc digital currency, and has now made a £1.35mln share-for-share offer to the remaining shareholders.
SDX Energy Inc. (LON:SDX) (TSXV:SDX), the North Africa-focused oil and gas company, hosted a call for private investors at 9am BST on Friday 18 May 2018. The group said its management will provide an operational update on its Egyptian and Moroccan assets on the call.