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Sirius Minerals advances, supermarkets Tesco, J Sainsbury, Morrison PLC rise

A look at some of the biggest risers and fallers in the London market Monday

toy train
Sirius Minerals gains 4.6% after reaching a sales deal in Brazil

Sirius Minerals PLC (LON:SXX) tacked on 4.6% to 29p after the UK mine developer reached a sales deal with a Brazilian fertilizer company.
Sirius Minerals struck an agreement to sell up to 2.5mln tonnes of POLY4 to distribution firm The Cibra Group. Also, AIM-listed Sirius agreed to acquire a 30% stake in Cibra in exchange for 95mln Sirius shares.

Investors bid up supermarket shares after Berenberg suggested investors add such stocks to their portfolios. Tesco PLC (LON:TSCO) rose 0.3% to 235p, J Sainsbury plc (LON:SBRY) added 0.2% at 321p, and Morrison PLC (LON:MRW) was lifted up 0.2% to 257p.

Supermarket shares have gained over the past year and Berenberg said that run should continue on three factors: online retailers posing less of a threat to supermarkets, struggles for high-street retailers favouring grocers and a strong performance in the second half of the year for the sector. 

Hornby PLC (LON:HRN) shares jumped 27% to 40p in early afternoon trade, with the AIM-listed toy train maker saying it reached a licensing agreement with Warner Bros. Consumer Products.

A variety of model railway, slot car sets and die-cast vehicles will be released under the Hornby Railways, Scalextric and Corgi brands, and the range will feature Harry Potter and DC's Super Heroes, along with other franchises held by Warner Bros.' and DC. 

Hornby Hobbies Limited's chief executive Lyndon Davies said: "Having access to these perennially popular franchises will provide Hornby with the opportunity to apply our ability in developing and delivering a desirable range of products that will appeal to fans of the many Warner Bros. characters and DC Super Heroes."

Another AIM advancer was boohoo group PLC (LON:BOO). Shares moved up 2.1% to 173p after the online apparel and accessories retailer poached the chief operating officer of high street chain Primark to become its chief executive.

John Lyttle will take on the position from 15 March 2019. Lyttle has led Primark Stores, a division of FTSE 100-listed Associated British Foods PLC (LON:ABF), for eight years.

But among UK stock decliners was Sophos Group PLC (LON:SOPH), as shares dropped 6% to 485p after the cyber-security company was downgraded to ‘hold’ from ‘buy’ by Deutsche Bank.

Sophos’s next-generation endpoint solution, Intercept X, saw strong growth in the year to the end of March 2018, having been released in September 2016, but the German bank thinks the gloss on the product is already starting to come off.

Clontarf Energy PLC (LON:CLON) surged 220% to 0.64p in late morning trade after the AIM-listed oil and gas exploration company said it has resolved outstanding issues with the Ghana National Petroleum Corporation related to a contract to develop the Tano 2A Block.

“All legal proceedings have been withdrawn so, after normal consultations, the next stage is for the Petroleum Agreement to be sent to Cabinet for review,” said Clontarf director David Horgan in a statement.

Also heading higher was Faron Pharmaceuticals Ltd (LON:FARN), picking up 3% to 102p as the biotech said it has filed a clinical trial application for Clevegen, its precision cancer immunotherapy.

That paves the way for a Phase I/II study to assess the safety and efficacy of the drug candidate. Clevegen is aimed to treat cutaneous melanoma as well as hepatobiliary/hepatocellular, pancreatic, ovarian and colorectal cancers.

Mirada PLC (LON:MIRA) gained 3.7% to 0.70p as Kaptungs, a substantial shareholder in Mirada, plans to inject £3mln into the over-the-top TV software specialist by subscribing for 3mln shares at 1p each.

Mirada said cash-for-shares would support its operating expenditure, or opex, business model, whereby it provides subscriber-based licences on a 'software-as-a-service' basis.

Frontera Resources Corporation (LON:FRR) fell 14% to 0.295p in early morning trade as the AIM-listed oil and gas exploration company outlined issues related to conversion notices from hedge fund YA II PN Ltd.

Frontera said it “vigorously disputes the validity of both the Conversion Notices and the Purported Default Notice, and is continuing to investigate YA II PN Ltd.'s actions in that regard. The Company is unable to comment further at this time pending further investigation with its advisers and the receipt of legal advice.”

But on the upside with AIM-listed resources stocks, Anglo Asian Mining PLC (LON:AAZ) shot up 11% to 50p as the company said recent exploration work at its currently producing Gedabek open-pit gold mine has confirmed the existence of further mineable ores.

The company said it has increased confidence in the short- to medium-term production profile at the Gadir underground mine. Underground tunnelling at Gadir has confirmed the existence of significant gold grades of over three ounces per tonne (93 gram per tonne).

Meanwhile, Mosman Oil And Gas Limited (LON:MSMN) rose 4.4% to 0.60p. The company said it’s been informed that its 16.5% owned Stanley-1 well is now flowing gas and liquid hydrocarbons to sale.

The well is expected to yield 230 boepd after equipment upgrades.

Proactive news headlines:

Recent exploration work undertaken by Anglo Asian Mining PLC (LON:AAZ) at the currently producing Gedabek open-pit gold mine has confirmed the existence of further mineable ores. Accordingly, an updated resource and reserve estimate will be published by the end of September 2018.

Kaptungs, a substantial shareholder of Mirada PLC (LON:MIRA), is pumping £3mln into the over-the-top TV software specialist by subscribing for 3mln shares at 1p each - a substantial premium to Friday's closing price of 0.68p.

Mosman Oil And Gas Limited (LON:MSMN)  has been informed that its 16.5% owned Stanley-1 well is now flowing gas and liquid hydrocarbons to sale. Baja Oil and Gas LLC, Mosman’s partner, advised that the well’s production rate is temporarily constrained by existing surface equipment limitations.

Sirius Minerals PLC (LON:SXX) has inked its latest supply deal, arranging to sell up to 2.5mln tonnes of POLY4 to Brazilian fertiliser distribution firm The Cibra Group. As a result, the group’s contracted peak take-or-pay sales volume now rises to 8.2mln tonnes.

Faron Pharmaceuticals Ltd (LON:FARN) said it has filed a clinical trial application for Clevegen, its precision cancer immunotherapy. It paves the way for a Phase I/II study, called MATINS, that will assess the safety and efficacy of the drug candidate.

Red Rock Resources PLC (LON:RRR) has netted approximately £508,000 in dividends from Jupiter Mines (ASX:JMS), payable from income from the Tshipi manganese mine in South Africa. The dividend amounts to A$0.05 per share and puts Jupiter on a 14.5% yield for the first half of fiscal 2019.

Cadence Minerals PLC (LON:KDNC) has opted not to press ahead with its planned investment in Premier African Minerals Ltd’s (LON:PREM) Zulu lithium project. At the end of June, the two parties agreed in principle for Cadence to take up to a 30% stake in Zulu Lithium Mauritius Limited (Mauco), a wholly-owned subsidiary of Premier African, for up to US$5.1mln.

BigDish PLC (LON:DISH) has launched the beta UK version of its yield management platform in Bath and is targeting up to 6,000 restaurants across England, Scotland and Wales by the end of 2019.

Background check specialist Clearstar Inc (LON:CLSU) posted an underlying profit on higher demand for medical screening services such as clinical testing and occupational health services.

Tekcapital PLC (LON:TEK) said its portfolio company, medical treatment developer Belluscura PLC, has widened its portfolio with several new patent filings in patient recovery.

Frontier IP Group PLC (LON:FIPP) has recruited Matthew White, the former head of innovation at AB Sugar, as its director of commercialisation.

The latest exploration work undertaken by Ariana Resources PLC (LON:AAU) in Turkey has revealed significant potential for the expansion of the Ivrindi gold project. Ivrindi is 100%-owned by Ariana, and is held separately from the Kiziltepe joint venture, which is already in production.

Greatland Gold PLC (LON:GGP) has commenced a second drilling campaign at the Havieron project in the Paterson region of Western Australia. Greatland's first drilling campaign at Havieron, carried out in April-May 2018, yielded excellent results, which included 121 metres at 2.93 grams per tonne gold and 0.23% copper.

Tlou Energy Ltd (LON:TLOU) has updated on its operations at the Lesedi coal-bed methane project, where it is gearing up for a well in October. The company, in a statement, confirmed that the well locations have been agreed, scouted and inspected.

Tower Resources PLC (LON:TRP) told investors that it had been informed that it will be granted a one-year extension for the Thali licence, offshore Cameroon, so long as a rig contract is entered into within the next three months.

Metminco Limited (LON:MNC) (ASX:MNC) advised that further to its announcement of 13 September, it is not yet in a position to make an announcement regarding a proposed capital raising and acquisition, so consequently its shares remain temporarily suspended on AIM and the ASX.

W Resources PLC (LON:WRES), the tungsten, copper and gold mining company with assets in Spain and Portugal, announced the appointment of Pablo Neira and James Argalas as non-executive directors of the company with immediate effect.

APQ Global Limited (LON:APQ), the Guernsey-based emerging markets growth company announced that, as at the close of business on 31 August 2018, its unaudited book value per ordinary share was US$101.58, equivalent to £78.15.

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