Energean PLC (LSE:ENOG) is heading higher after unveiling a gas sales and purchase agreement.
The deal, to supply 0.8bn cubic metres of gas a year to the East Hagit power station in Israel, is worth around US$2bn over 15 years.
East Hagit is the third power plant in the current series of four to be privatised, and Energean also supplies gas to the previous two, Ramat Hovav and Alon Tavor.
Meadnwhile Energean said it remained on track to deliver first gas from the Karish field off the coast of Israel in the third quarter of 2022, with its floating storage and production platform having sailed away from Singapore on its way to the field.
Energean shares are up 7.43% at 1272p.
3.30pm: AO World hit by broker downgrade
Heading lower after a broker note is AO World PLC (LSE:AO.).
The electrical goods retailer is down 5.26% at 72p after JP Morgan moved from neutral to underweight in the wake of last week's trading update.
The company issued its third profit warning in six months due to supply chain problems and the cost of living crisis.
It also indicated that founder and chief executive John Roberts would sell "a small proportion of his equity holding" this year.
12.50pm: Auction Technology lifted by broker upgrade
Auction Technology Group PLC (LSE:ATG) has been bid higher after a broker upgrade.
The company, which operates six marketplaces across a range of sectors including industrial machinery, collectables and retail returns, is up 7.05% at 941p, making it the biggest riser in the FTSE 250.
Analysts at JP Morgan raised their rating from neutral to overweight and their price target from 1041p to 1150p.
11.40am: SDX Energy in demand after gas find
SDX Energy PLC (AIM:SDX, OTC:SDXEF) has flared up after the company announced a gas discovery at the South Disouq field in Egypt.
It said the find was made at the SD-12_East well that targeted a separate compartment in the Sobhi Field, within the Ibn Yunus North development lease.
Chief executive Mark Reid said: "I am very pleased to announce a second successful well in the South Disouq 2022 drilling campaign. SD-12_East is expected to be contributing to production by July 2022 and I look forward to updating the market further on the results of the well-test when this completes in the coming weeks."
SDX shares are up 9.79% at 8.92p.
10.33am: Hutchmed (China) falls after disappointing update from US regulators
Hutchmed (China) Ltd (AIM:HCM, NASDAQ:HCM, HKG:0013) has lost ground after a disappointing response from US regulators to a new drug application.
The US Food and Drug Administration said two positive trials in China and a US study did not support an approval for Hutchmed's surufatinib for the treatment of pancreatic and extra-pancreatic neuroendocrine tumors.
The FDA indicated that a multi-regional clinical trial was required for US approval, which would include subjects "more representative of the US patient population and aligned to current US medical practice".
Dr Weiguo Su, chief executive officer and chief scientific officer of Hutchmed, said: "Although this decision from the FDA is disappointing, we remain confident about the clinical value of surufatinib for NET patients and committed to making surufatinib available to patients globally.
"We look forward to working with the Agency to evaluate its feedback. Throughout the duration of the US. review process, we have been transparent and collaborative with the FDA.
"There are very few treatments approved and used in these rare diseases, and patients and physicians would benefit from more options to address the unmet medical need. We look forward to continued engagement with the FDA on developing a plan to bring surufatinib to patients in the US."
The news has seen Hutchmed's shares drop 16.7% to 204.5p.
9.17am: Eneraqua Technologies boosted by contract win in India
Eneraqua Technologies PLC (AIM:ETP) has bubbled up after winning a contract in India.
The specialist in energy and water efficiency, said it had been selected by the Department of Horticulture for the State Government of Uttarakhand, India.
The £0.9mln contract will see it supply its its ClimateSmart irrigation systems to 340 horticultural farms across the state reducing their carbon emissions and improving water efficiency. This is the first major zero carbon irrigation initiative of its kind in India.
The programme is expectd to start this year and be completed in 2023.
Eneraqua Technologies chief executive Mitesh Dhanak said: "As well as reducing carbon emissions, this programme will also reduce pressure on water resources and improve the incomes of farmers. This offers an attractive template for other states looking to decarbonise the agricultural sector while meeting the challenges of sustainability."
The company's shares have risen8.27% to 275p.
8.51am: Card Factory (LSE:CARD) climbs after returning to profit
Investors have given a positive greeting to the latest update from Card Factory (LSE:CARD).
The retailer, which last month unveiled a refinancing, said full year revenues rose 28% to £364.4mln, driven by a steady recovery in store performance following easing of lockdown restrictions, alongside an online performance well ahead of pre-pandemic levels.
It moved from a £16.4mln loss to a £11.lmln profit, which was ahead of management expectations despite the pandemic-related trading disruption and inflationary cost pressures.
It said trading at the start of the new financial year was in line with its forecasts, and it is seeing a shift in mix in its spring seasons (Valentine's Day and Mother's Day) towards everyday ranges, which typically represent 70% of sales.
It expects significant inflationary headwinds to continue through the year, but said pre-emptive action had already mitigated a large proportion of these pressures through managing costs and working capital as well as targeted price increases
Overall, its expectations for full year revenue and profit remain unchanged.
Chief executive Darcy Willson-Rymer said: "We saw a steady recovery in store performance as lockdown restrictions eased, particularly in the run up to Christmas with store sales approaching pre-pandemic levels in this key trading period...
"Looking forward, we remain confident our revenue levels for next year will continue trending towards pre-pandemic levels."
Its shares are up 9.23% to 63.9p.
Elsewhere Vast Resources PLC (AIM:VAST) has seen its shares jump by more than a quarter.
The company has joined a consortium with local company Takob in a new project in Tajikistan, and also announced a 236% jump in first quarter revenues to US$2.3mln.
It is also planning a fundamental change in the second quarter in the way the Baita Plai mine in Romania operates, with a move to mechanised drilling and cleaning.
This is expected to result in substantially increased production of copper concentrate.
It has climbed 27.94% to 0.44p on the news.