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The Markets
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The Markets
by Proactive
Proactive UK has moved.
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Pharma & Biotech

ValiRX shares gain on clinical study update, Ariana Resources moves up

A look at some winners and losers in Monday's trading session in the UK market

ValiRx PLC’s (LON:VAL) shares gained 5% to 1.85p as the company’s mid-stage study of its VAL401 anti-cancer compound was accepted for inclusion on ClinicalTrials.gov, a publicly accessible database.

AIM-listed ValiRX said a phase II trial, carried out over summer, showed that palliative stage lung cancer patients could expect to see improvements in quality of life as well as improved survival prospects.

Ariana Resources PLC (LON:AAU) shares picked up 4.4% to 1.20p, with the miner said it produced a record 7,588 ounces of gold in the third quarter.

Ariana, listed on AIM, also said it will exceed its full-year production guidance of 20,000 ounces of gold.

Shoe Zone PLC (LON:SHOE) shares jumped 10% to 181.75p as the footwear retailer said it will distribute an extra £4mln to shareholders through a special dividend.

The AIM-listed company said the move comes after better-than-expected activity during the second half, as well as by benefiting from the closure of loss-making stores.

READ: Shoe Zone steps higher as it unveils £4mln special dividend

But shares of Schroders PLC (LON:SDR) pulled back 3.3% to 2,747p after the wealth management firm issued its third-quarter financial report.

The FTSE 100 company posted a 0.7% rise in quarterly assets under management (AuM). Total AuM at the end September stood at £439.1bn, compared with £435.7bn on January 1, as a 1.7% increase in institutional assets offset a 1.4% decline in retail assets.

READ: Schroders posts increase in third quarter assets, led by institutional demand

Elsewhere, ConvaTec Group PLC (LON:CTEC) shares plunged 30% to 157.90p after the medical products company issued a profit warning after disappointing revenue in the third quarter, and said Chief Executive Paul Moraviec is resigning.

The FTSE 250 company said, among other things, that revenue took a hit of US$18mln to US$23mln because its biggest customer in the infusion devices business changed its inventory policy.

READ: ConvaTec announces resignation of chief executive as it issues profit warning

Also moving lower, Greencore Group PLC (LON:GNC) shares fell 3% to 201.20p after the ready meals maker said it’s selling its US business to snacks giant Hearthside Food for US$1bn (£817mln).

Greencore, which trades on the main market, said £509mln will be returned to shareholders in the form of a special dividend.

READ: Greencore dives as it agrees US$1bn sale of US business

Also lower, Urals Energy (LON:UEN) fell 4.5% to 52.50p after the Russian O&G explorer said an unauthorised loan made with its funds has led to a combined working capital deficit of roughly $1.6mln.

In an update to an October 10 statement, AIM-quoted Urals said Sergey Kononov, president of the company’s JSC Petrosakh subsidiary, made the loan to an employee of JSC Petrosakh. The board said repayment of the loan, among other actions, will restore its “significantly constrained” current working capital position.

But on the upside, Cake Box Holdings PLC (LON:CBOX) shares bulked up 7.6% to 70.40p, after the bakery chain issued its half-year trading update.

The company, which joined AIM in June, said it “traded strongly” in the first six months of its financial year, boosted by a record number of new store openings and a continued rise in average sales per store.

READ: Cake Box lifts full-year guidance

Superdry PLC (LON:SDRY) shares tumbled 19% to 822p following a warning about full-year 2019 financial results from the clothing retailer.

The FTSE 250-listed company expects profit to be reduced by about £10mln, in part as unseasonably hot weather have cut into demand for its autumn and winter products, particularly sweats and jackets.

READ: Superdry warns hot weather, FX costs will hurt full-year results

Corero Network Security PLC (LON:CNS) shares jumped 17% to 12.25p, with the company set to receive a US$2mln investment from US internet hardware giant US Juniper Networks.

The investment for the AIM-listed company follows on from an agreement signed between the two companies last month for Juniper to resell and support Corero's SmartWall cyber-security software products and services.

READ: Corero Network receives US$2mln investment from Juniper

Active Energy Group PLC (LON:AEG) shares climbed 13% to 2.14p after the company signed a joint venture agreement with Georgia Renewable Power LLC, an American renewable energy group.

The agreement for AIM-quoted Active and GRP envisages the installation of Active’s CoalSwitch facilities into operational plants.

READ: Active Energy Group Plc inks US partnership with renewable power group

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Proactive UK has moved.
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