LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Monday.
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FTSE 250 - WINNERS
International Personal Finance, up 7.3%. The company has seen its share price rebound after falling 16% on Friday. The company revealed early last week that it had been fined GBP2.4 million by the Polish Office of Consumer Protection and Competition after it failed to correctly calculate the annual percentage rate on its products. Despite this, following the dramatic share price decline, Numis has Monday confirmed the company at Buy. The investment bank believes that the risk associated with the fine is "more than reflected in the share price."
Vedanta Resources, up 2.7%. The mining company's subsidiary, Sesa Sterlite Ltd., has resumed mining activities at its Karnataka mine, after receiving permission from the Indian Supreme Court.
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AIM - WINNERS
LED International Holdings, up 120%, said it has completed a share placing, raising GBP3.1 million. The company also announced a 1-for-100 share consolidation.
PureCircle, up 19%. The natural sweetener provider said that it has received a "no objection" letter from the US Food and Drug Administration, for a new Rebaudioside M stevia sweetener, as a general purpose sweetener for foods and beverages in the US. Stevia is a South American herb used as a natural sweetener.
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AIM - LOSERS
Max Petroleum, off 14%. Despite recording successful drilling results of an appraisal well in Sagiz West Field, the oil and gas exploration company is a big loser. The group reported lower revenue and production levels and wider losses in the first-half of the year from a year before. Its loss for the six months to September 30 widened to USD5.0 million, compared with USD3.6 million a year earlier.
Blue Star Capital, down 11%. The company said that Chief Executive Office Anthony Fabrizi has agreed to convert GBP26,000 of the shareholder loan owed to him, at a price of 0.5 pence per share, into 5.2 million new shares in the company. As well as the agreed conversion, Blue Star has repaid GBP96,000 of the loan in cash, and now has a total of GBP85,292 outstanding under the loan.
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By James Kemp; jameskemp@alliancenews.com; @jamespkemp
Copyright 2013 Alliance News Limited. All Rights Reserved.
4 Aug 2014 15:05
Max Petroleum sells 51% stake to AGR Energy
Max Petroleum has announced the sale of a 51% stake in the company to AGR Energy, raising approximately £37.1m in the process. The Kazakhstan-focused company saw its shares rise 26.5% by 13:00 (BST) on Monday afternoon. In a statement the company, which began a strategic review of its operations la
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