Yü Group PLC (AIM:YU.) jumped 13% to 237.5p after the UK energy regulator Ofgem appointed it as Supplier of Last Resort (SOLR) for Ampoweruk.
It means that the AIM-listed supplier of gas, electricity and water has taken on all Ampoweruk’s corporate customers from Sunday 7 November.
Under Ofgem's SOLR process, business customers transfer to a new supplier on a flexible, "deemed", basis with a variable tariff reflective of current market conditions.
Yü said it expects to retain a significant proportion of the Ampower business customer book, leading to substantial increase in forward contracted revenue.
2.20pm: British Airways owner IAG dips after two-week rally
British Airways owner International Consolidated Airlines Group (LSE:IAG) SA dipped 2% to 176.98p at lunchtime as it calmed down after a two-week rally.
The FTSE 100 group had been in demand ahead of the US reopening its borders to UK fully vaccinated tourists today.
The reopening of the transatlantic corridor is expected to be a significant boost for IAG, which is more reliant on these routes than its competitors.
Pre-pandemic, London Heathrow-New York was the world’s most lucrative air link, generating US$1bn for flag carrier BA.
11.30am: Card Factory (LSE:CARD) on the rise after upbeat update
Card Factory (LSE:CARD) PLC was up by a tenth to 54p in the late morning after announcing that sales performance has continued to recover.
Like-for-like sales in the quarter to 31 October were down only 3% compared to the same period in 2019, while average basket value topped pre-pandemic levels, offsetting the lower transaction numbers.
The greeting cards retailer added that the Christmas ranges are already selling well and of seasonal store staff has started strongly, plus it’s dealing with limited supply chain disruption.
10.25am: Go-Ahead dips amid slow recovery in regional bus division
Go-Ahead Group PLC dupped 3% to 794.5p after admitting the regional bus division has seen a “slight slowing in the recovery” in recent weeks, which could hit full-year numbers.
However, London & International bus and Rail have been trading in line with expectations.
The transport firm said it continues discussing with the Department for Transport regarding London and Southeastern Railway and a further update will be published in the delayed full-year results, expected for later this month.
In the FTSE 100, JD Sports Fashion PLC (LSE:JD.) dipped 1% to 1,107p after publishing a response to media reports on a meeting between executive chairman Peter Cowgill and Barry Bown, his counterpart at Footasylum.
It is understood that the Competition and Markets Authority (CMA) has launched an investigation into this meeting, since it happened while it was examining the deal.
According to City rules, the two sides were allowed to hold business meetings but “no business secrets, know-how, commercially sensitive information, intellectual property or any other information of a confidential or proprietary nature” can be shared while a verdict is awaited.
The athleisure retailer said that the CMA has already been fully apprised of the content of the meeting, adding that it “firmly believes” that it does not represent wrongdoing or a breach of rules.
9.15am: Katoro Gold on the rise after £815,000 placing
Katoro Gold PLC (AIM:KAT) was one of the top risers at the start of the week, up 14% to 1.025p on the back of a £815,000 placing.
The gold and nickel exploration and development company issued 81.5mln shares at 1p each.
The funds will be used to further advance the Haneti Nickel Project, where the miner will soon start a diamond-drill drilling campaign.
Sticking to the mining sector, Kodal Minerals PLC (AIM:KOD) surged 19% to 0.4275p after receiving a mining licence for its flagship Bougouni lithium project in Mali.
The project is now fully permitted for development, as the environmental and social impact assessment was greenlighted in November 2019.
The Permis d'Exploitation is valid for an initial 12-year term and renewable in ten-year blocks until all resources have been mined.