After November's modest profit warning, investors in staffing conglomerate Empresaria Group plc (LON:EMR) might have been apprehensive ahead of today's trading update.
In the end, the statement was full of reassuring stuff, like: "record profit, in line with market expectations" and "an improved performance from our businesses in the USA in the second half", not to mention "the business in the Middle East has been resized resulting in an improved performance".
The shares were up 10.3% at 112p in afternoon trading but they are still some way below their 52-week high of 169.95p; investors are still in a "prove it" mood after November's wobble but management seem to have made a good start in restoring the faith.
Premaitha Health PLC (LON:NIPT), the molecular diagnostics group focused on pre-natal testing, received a fillip from a High Court decision that means it can appeal against the First Instance Judgment handed down on 21 November 2017.
A group of companies, including US-based Illumina, started legal proceedings in March 2015 alleging that Premaitha's IONA test infringed two of their UK patents, and although the UK High Court's pronouncements were mixed, they were predominantly negative for Premaitha.
"We have attempted to engage Illumina into meaningful settlement discussions both before and since the November judgment. We will continue to pursue such discussions as we believe these are firmly in the best interests of patients, clinicians, the NHS and the companies involved. We are open to terms that are financially viable for us to offer IONA within the UK without the negative drag on the whole market that this litigation engenders," said Stephen Little, the chief executive officer of Premaitha.
Shares in the non-invasive pre-natal test maker were up 5.6% at 4.75p.
Plant Health Care PLC (LON:PHC) was the top performer in London throughout the morning after an upbeat trading statement.
The plant productivity company said revenue in 2017 was up 22% from a year earlier to US$7.7mln, with sales in Europe/Africa doubling.
"We have continued to make exciting progress with our PREtec peptide platforms and are now working with all five of the top agricultural/seeds companies, as well as four other partners. Evaluation continues on all three platforms - Innatus 3G, T-Rex 3G and Y-Max 3G - in a wide range of crops," said Chris Richards, the interim chief executive officer of Plant Health Care.
Liberum Capital Markets reiterated its 'buy' recommendation and target price of 45p, saying the numbers were broadly in line with expectations.
"In comparison to our estimates, revenue was $0.3m light due to some Brazil sales being delayed at import but gross margins were higher than our 59% forecast," Liberum said.
"The two effects broadly cancel each other out and we see no need to make material changes [to] forecasts," it added.
The shares were up 31% at 19p.
Physiomics sounds like one of those new-fangled GCSE subjects but is, in fact, a provider of computational biology services to pharmaceutical companies.
Over the last year, the shares are up more than 630% but Physiomics Plc's (LON:OYC) stock rose some more today - 19% to 11p - as it was announced that e-cigarette tycoon Jason Cropper's stake has risen to 5.1% from 4.08%.
#PYC call me stupid but someone takes 3% of company and chart looks good ..took initial ?5k pic.twitter.com/3hVAEXezZJ
- riddler (@riddler_smitb) January 17, 2018Short-sellers have their teeth into IQE plc (LON:IQE), the supplier of semiconductor wafer products.
Around 11.5% of the company's shares are in the hands of short sellers, despite - or possibly because of - the company being a supplier of 3D sensing equipment for the iPhone X.
Doubts over the future of the iPhone X may have added extra pressure today to the share price, which was down 12.4% at 106p. Newspaper coverage of the stranglehold short sellers have on the shares won't have helped either.
#IQE Not surprised at today's "Shorters attack". It is after all the 3rd most shorted Co on LSE behind only #CLLN & #DEB. 106p support is key & seems to be holding this time. After that it's back to the 80's.????????
- Small Cap (@martinthebrave) January 24, 2018Marshall Wace, Coltrane Asset Management, Ennismore and Worldquant are among the hedge funds who have built up short positions, betting that IQE will not, after all, turn out to be the next ARM Holdings.
Also getting it in the neck this morning is Tern PLC (LON:TERN), the investment company specialising in the Internet of Things.
The company provided an update on its key portfolio companies that prompted an 11.5% mark-down in the share price to 2.875p.
At its Device Authority investment, revenues in 2017 were adversely affected by delays in both customer implementation schedules and customer restructuring.
Read @Ternplc CEO @AlbertSisto #IoT Predictions for 2018 https://t.co/kr9hXe2Zm1
- Tern (@Ternplc) January 23, 2018Nostra Terra Oil and Gas Company plc (LON:NTOG) has decided to increase the number of drilling permits it will apply for in the Permian Basin.
It now intends to apply for three permits, rather than one, as it expects to get its hands on the money from its senior lending facility sooner than expected.
The increase in the number of permitted drilling locations would enable Nostra Terra to drill new wells in quicker succession.
"Confirmation of the new senior lending facility could prove to be a catalyst for exciting growth for Nostra Terra. We are an ambitious and nimble company," declared Matt Lofgran, the chief executive officer of Nostra.
Shares in the oil junior were up 12.8% at 5.125p in early trading.
Gordon Dadds Group Plc (LON:GOR) is not one of life's glamour stocks but it enjoyed a spell in the sun this morning after announcing the acquisition of Metcalfes Solicitors.
The legal and professional services business said Metcalfes, which it is buying for ?2mln, is a well-established firm in Bristol. The board of Dadds expects the acquisition will significantly enhance earnings in the first full-year of ownerships.
Dadds' shares were up 7.1% at 165p.
International specialist staffing group Empresaria Group plc (LON:EMR) is set to deliver record adjusted profits for 2017, in line with expectations.
Directa Plus Plc (LON:DCTA) has received a US patent for its graphene-based flame-retardant textile, Graphene Plus (G+). Giulio Cesareo, chief executive, said the patent consolidated Directa Plus's position as one of the leading graphene companies in the textile segment.
ImmuPharma PLC (LON:IMM) said it received strong backing from existing and new institutional investors for its ?10mln City fundraiser. The cash, raised by issuing shares at 144p each, will support future investment in the P140 peptide platform. It will also be used to meet the drug developer's working capital requirements.
The provider of cloud-based e-commerce marketplaces, cloudBuy PLC (LON:CBUY), halved its losses in 2017, though revenue came in below expectations.
Bango plc (LON:BGO) has raised ?5mln placing shares at 180p a share and is to acquire Audiens, the data management subsidiary of Digitouch.
Faron Pharmaceuticals Ltd (LON:FARN) said a phase II/III clinical study of its flagship drug in a second indication has received its first recommendation from the independent data monitoring committee overseeing it. The treatment, Traumakine, is being trialled on patients with ruptured abdominal aorta aneurysms (RAAA) in centres in Finland, Lithuania and Estonia (sites in the UK will open shortly).
Oracle Power PLC (LON:ORCP) has appointed Mark Steed as its new interim chairman to replace Anthony Scutt, who will return to his role as senior independent director. Oracle is working towards the financial sign-off of its Thar thermal power station project in Pakistan and said it would appoint a permanent chairman once that process concludes.
Strategic Minerals Plc (LON:SML) is to increase its exploration efforts at the Hanns Camp project in Australia after new drilling showed numerous nickel and cobalt indications. Eight of the holes indicated nickel above a grade of 0.63% with additional cobalt credits.
SDX Energy Inc (LON:SDX, CVE:SDX), in a statement after Tuesday's market close, told investors that it is expected to achieve higher production volumes in 2018. The project update comes as the company hosts an analyst visit in Morocco.
Cadogan Petroleum Plc (LON:CAD) told investors that it has 'delivered another step towards overall profitability'.The Ukraine focused oil and gas firm, in a statement, highlighted that it is benefiting from E&P revenues, reductions in administration costs, as well as strict discipline on spending and management of receivables.
Amryt Pharma PLC (LON:AMYT), the biopharmaceutical company focused on rare and orphan diseases, has announced the appointment of Derval O'Carroll as head of Regulatory Affairs. The group said, as it continues its pivotal Phase III trial, EASE, to assess the efficacy of AP101 in Epidermolysis bullosa, the rare genetic skin disorder, Derval will assume responsibility for engagement with regulatory agencies.
Eurasia Mining plc (AIM:EUA) announced that, further to its announcement in November 2017, Alexei Churakov has now completed the purchase of a 7% minority stake in the AIM listed gold producer's subsidiary ZAO Kosvinsky Kamen which solely owns and holds the West Kytlim project. After the transaction, it added, KK is 68% owned by Eurasia.
Savannah Petroleum PLC (LON:SAVP) said that, for the purposes of facilitating the company's proposed acquisition of the Seven Group assets, it has commenced an exchange offer and consent solicitation with respect to Seven's 10.25% senior secured notes.
The Marketing Group PLC has confirmed that it let Nice & Polite go into liquidation on 18 December 2017 following a Court Order to wind up the business and the group's desire to streamline its corporate structure. It added that Nice & Polite was not material to the Group's financial performance, having made a loss after tax of approximately ?6,000 in the year to 31 December 2017.