Dechra Pharmaceuticals PLC (LSE:DPH) is in demand after an analyst upgrade.
RBC Capital Markets raised its recommendation on the firm, which focuses on the veterinary market, from sector perform to outperform.
It said: "We think Dechra is a well run compound growth story, benefiting from strong market trends, resilience to recession and will remain active in M&A."
The analysts cut their target price tfrom 5300p to 4200p to reflect a decline in the whole sector.
But they added: "[Dechra's] shares have come down significantly relative to that of its other high quality peers, and we think current levels provide an attractive entry point for what we see as a defensive business with good organic growth and history of solid execution."
Dechra is up 5.94% at 3638p in a falling market.
3.08pm: Bluerock Diamonds drops by nearly a quarter after dilutive fundraising
Bluerock Diamonds PLC (AIM:BRD) has lost its sparkle after unveiling a refinancing which could see existing shareholders heavily diluted.
It has signed a £1mln loan note with Teichmann Company Limited which will later be converted to equity at 7p a share and take Teichmann's stake from 17.4% to 51%.
The company will seek a waiver from the Takeover Panel so Teichmann would not have to make a mandatory offer for Bluerock.
Mike Houston, executive chairman said, "The need for financing has arisen as a result of the excessive and extended rainy season this year which has delayed the ramp up of production and the development of our main pit leading to significantly lower production levels and lower grades than expected.
"As announced earlier, we have been exploring how to finance the financial hole left by the lower than expected revenue at a time when we are investing heavily in developing the mine.
"Having explored these options, the only source of funds available to Bluerock in the form and magnitude required was that offered by Teichmann albeit on terms that dilute existing shareholders significantly. Teichmann has demonstrated a strong ongoing commitment to the company and their closer involvement in the management of [the Kareevlei diamond mine] is expected to assist the company during this critical phase of development."
Bluerock has dropped 26.53% to 9p.
1.02pm: Nanosynth surges after directors spend £3mln on shares
Nanosynth Group PLC (AIM:NNN) has moved sharply higher after two directors spent around £30,000 buying shares today.
The nanoparticals specialist said chief executive Mark Duffin and chief financial officer Andrew Stedman bought 4,166,667 and 2,083,333 shares respectively at a price of 0.48p per share.
These are their first shareholdings in the business and represent 0.2% and 0.1% respectively of the company.
The purchases come a day after the company gave a strategic update on its plans to move out of face mask production and develop other projects, with various discussions underway about commercial partnerships.
In the market Nanosyth has jumped 58.77% to 0.57p.
12.07pm: Equals Group reports record first half
Equals Group PLC (AIM:EQLS) expects full year earnings to beat market expectations after a record breaking first half.
The fintech payments group focused on the SME marketplace said six month revenues jumped 84% to £31.3mln, with gross profits up 47% at £15mln.
Ian Strafford-Taylor, chief executive officer, said: "We are extremely pleased to see an 84% increase in our revenues in the first half with all segments performing exceptionally well. We believe that our revenues are highly 'inflation-resistant' and that this should be beneficial for the group and our shareholders in the second half of 2022 and beyond."
Its shares have added 10.83% to 87p.
11.08am: Edenville Energy energised as it appoints new chief executive and chairman
A flattering response from the market to some incoming board members at Edenville Energy PLC (AIM:EDL)
The operator of the Rukwa coal project in Tanzania said Alistair Muir and Jeff Malaihollo had stepped down with immediate effect from their roles as chief executive officer and non-executive chairman respectively.
Among a number of new appointments, Noel Lyons joins as the new chief executive while existing board member Nick von Schirnding replaces Malaihollo as chairman.
Lyons has more than 30 years experience in the oil, gas and mining sector mainly in Africa and the Middle East, and is also the founder of Clean Invest Africa plc, a company focused on acquiring stakes in clean energy related projects.
Edenville said the moves come as it looks to expand its Rukwa project to benefit from the increased demand and pricing for its coal, together with exploring other opportunities to broaden its operations.
The new board plans to spend "significant time in Tanzania" and move certain experienced personnel from other existing African coal operations, which they are associated with, to Tanzania.
Lyons said: "Given my ongoing operational experience in Africa I believe we are well positioned to optimise the proposed expansion of Rukwa, both in terms of production rates and sales."
Edenville shares have added 9.8% to 14p.
10.31am: Transense Technologies (AIM:TRT) says earnings may beat forecasts after tax credit
Transense Technologies (AIM:TRT) is in demand after an upbeat trading statement.
The developer of sensor systems said full year revenues had risen by almost 50% to £2.6mln, in line with market expectations.
Adjusted earnings are also expected to be in line with forecasts, although net earnings may be better than expected thanks to an increased tax credit arising from extending the recognition of deferred tax assets arising from prior years' losses.
The company said global economic conditions were likely to become even more challenging in the months ahead.
But it added: "The company's business model provides considerable resilience. The momentum that has built up in royalty income now generates sufficient net income to comfortably cover fixed overheads..the board is optimistic about growth prospects despite the gathering economic headwinds."
Its shares are up 8% at 67.5p.
9.27am: Resolute Mining lifted by end of sanctions on Mali
Resolute Mining Limited (ASX:RSG, LSE:RSG), which has producing gold mines in Mali and Senegal is on the rise.
Its shares are up 10.25% to 14.25p after economic and financial sanctions imposed on Mali by ECOWAS (Economic Community of West African States) on 9 January 2022 were lifted on 3 July 2022.
Resolute said the ECOWAS decision was made after Mali's interim government proposed a 24-month transition to democracy and published a new electoral law.
8.41am: Kitwave climbs after moving out of the red
Kitwave Group PLC (AIM:KITW) has seen its shares surge after returning to profit and predicting a significantly better than expected full year performance.
The wholesaler said business had returned to pre-pandemic levels in the first six months of the year, with particularly strong demand in the latter part of the period.
Revenues rose 51.8% to £223.3mln, while it moved from a £3.4mln loss to a £4.4mln profit.
Chief executive Paul Young said: "With the detrimental effects of COVID-19 significantly reduced, the group made great strides operationally and commercially during the period .
"Trading recovered at a quicker pace from the pandemic than we had anticipated, notably within vending, ambient and foodservice. It should be noted that this reporting period includes Christmas 2021, a period that was still overshadowed by high rates of positive COVID-19 cases and hesitancy to socialise amongst consumers.
"The outlook for the UK economy is dominated by cost-of-living issues which provide an element of uncertainty in relation to end consumer demand for the group's products
" While the board is cognisant that these issues could impact trading in future periods, given the better than expected performance in the first half and the strong start to the second, we expect to be significantly ahead of expectations for the current year."
Its shares are up 9.82% at 151p.
Up a similar amount is Quiz PLC (AIM:QUIZ).
The fashion retailer also moved out of the red, reporting a full year pretax profit of £0.8mln compared to a £9.6mln loss.
Revenues rose by 97%, helped by a 66% rise in sales through its own website.
Since the year end, it saw a 62% increase in revenues for the three months to the end of June.
It said high levels of full price sales meant an increase in gross margins to 60.3%, consistent with pre-pandemic levels.
Chief executive Tarak Ramzan said: "The group delivered a very encouraging full year 2022 performance with very strong revenue growth and a return to profitability. This outcome reflects increased demand for Quiz's product offering and was supported by the decisive actions we have taken in recent years to transform the business and successfully leverage the group's omni-channel model and infrastructure.
"We are very pleased with the strong uplift in active customers and sales growth through our own website, which is now supported by a flexible and profitable portfolio of stores and concessions.
"Despite the well-documented challenges across the retail sector, we remain encouraged by customer demand for the Quiz brand, with sales up by 62% in the year to date. Whilst there are significant levels of uncertainty impacting the consumer right now, we are confident that Quiz is well positioned to continue to deliver against its strategy and drive long-term, sustainable and profitable growth."
Its shares have added 9.76% to 11.25p.