African Copper Plc shares drop as much as 32 percent after it says it received a demand for the redemption of 150 million Botswana Pula ($22.3 million) bonds, calling for immediate repayment of the entire principal amount plus accrued interest.
The company says the bonds, issued by wholly owned subsidiary Messina Copper, were recently purchased by a third party and that it is seeking legal advice in relation to Messina's obligation.
Mike Stuart, analyst at Numis Securities, says bondholders are due to receive about $5 million, or 25 percent of the face value, of the bonds.
The third party 'is now demanding full payment, which is another $15 million that African Copper doesn't have at the moment', he says.
Shares in Hansen Transmissions fall 4.8 percent after the company reports its full-year 2009 results, with Ambrian noting improved margins but saying positive sentiment had already been built into the price.
The Belgium-based wind turbine gearbox maker reports net profit rose to 45 million euros from 32.3 million euros in the previous year, while revenue climbed 45 percent year-on-year to 609 million euros, with an EBITDA margin of 15.38 percent from 14.50 percent last year.
'Hansen's share price is up 70 percent in the last seven weeks on the back of unconfirmed takeover speculation from Vestas, combined with the effects of the UK Budget support for offshore wind,' says the broker.
'Despite improved margins, we see recent positive sentiment already priced into the stock, but still favour Hansen as one of the premier alternative energy stocks on the market,' Ambrian adds.
Shares in cancer specialist Antisoma rise as much as 3 percent to 31 pence after the company releases fresh data for its leukaemia drug AS1411 in the run up to the American Society of Clinical Oncology annual meeting at the end of May.
'We believe AS1411 continues to show encouraging safety and efficacy in relapsed/refractory acute myeloid leukaemia,' say analysts at Piper Jaffray in a note to clients.
The broker has a 'buy' recommendation on the stock and a target price of 81 pence.
08:24GMT 15May2009-Renishaw up; sees lower H2 operating loss
------------------------------------------------------------ Shares in Renishaw gain 5 percent as the precision engineer says cost-cutting efforts mean second-half operating losses will be lower than the previously expected 10 million pounds.
KBC Peel Hunt upgrades the company to 'Hold' from 'Sell' and says it expects to increase 2009 forecasts.
'While we do not view Renishaw as being 'out of the woods' 'While we do not view Renishaw as being 'out of the woods' it has made good inroads on cost cutting and net cash of 14 million pounds reduces the risk of the final dividend being passed,' write the analysts in a note.
Shares in Computacenter rise 7.1 percent as the IT firm says profit in the first four months was well ahead year-on-year and it sees similar progress for the first half.
Analyst George O'Connor at Panmure Gordon, who has a 'buy' rating on the stock, says the company is better configured, selling more higher margin products and services, and he raises his 2009 earnings per share forecast to 21.3 pence from 20.2 pence.
'Our view is unchanged -- Computacenter is a story about the transformation of the offer -- selling more service has a dramatic positive impact on group profitability and delivers positive earnings surprises,' he says in a note.
Shares in Ladbrokes fall 6 percent after Britain's biggest bookmaker says its gross profit fell by a third in the four months to end April after a run of punter-friendly results in March, particularly at the Cheltenham Festival.
The group says its gross win was flat overall in the four month period. UK over-the-counter gross win falls 4 percent in British shops and e-gaming revenues drop 2 percent.
'Ladbrokes is underperforming its closest peer (William Hill) across each of the key business units. Perhaps the most notable area is online, where the modest decline in Ladbrokes' net revenue compares unfavourably with William Hill (up 10 percent),' says Goldman Sachs analyst Patrick Hargreaves.
Shares in solar company PV Crystalox slump 20 percent as it warns on first half revenues, with slowing customer demand leading to order deferrals.
'Long-term contracts can withstand only so much and the rate of order deferral has increased. Downward revision to earnings are needed,' says Andrew Shepherd-Barron at KBC Peel Hunt.
The broker revises 2009 pretax profit estimates down to 80 million euros from 93 million, but remains a 'buy', citing Japanese exposure, a strong balance sheet, and the stock being the cheapest play in the sector.
The FTSE Small cap index climbs 0.5 percent in early trade as the London market looks to end the week on a bullish note, with the FTSE 100 up 0.2 percent and the FTSE 250 gaining 0.6 percent.
SciSys rises 12.1 percent as the IT and software solutions provider announces its media and broadcast division has won a 4 year contract worth between 10 and 15 million pounds with the British Broadcasting Corporation.
PV Crystalox Solar slide 13.9 percent after warning first half revenues would be 10 percent lower after warning customer demand weighs on its order book. The company, which applies silicon wafers to solar cell makers, says it has had a number of requests for order deferrals.
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Datafeed and UK data supplied by NETbuilder and Interactive Data.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk!
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.