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Risers & Fallers: Argos Resources, Eden Research, Hardide, Inspiration Health., Kromek, MirLand

Eden Research raises a glass to the Spanish authorities for green-lighting its wine grape protection product.

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Eden Research's wine grape protection product has been cleared to go on sale in Spain

Below are some of the main news-driven share price changes at 4.15pm.

RISERS

Eden Research (LON:EDEN), up 21.4%. The agricultural research company said it had received authorisation in Spain for its first product, 3AEY, for use in the prevention and treatment of botrytis in table and wine grapes.

Inspiration Healthcare Group (LON:IHC), up 14.3%. The company said profits for the year to the end of January 2016 are expected to be ahead of market expectations.

Kromek (LON:KMK), up 4.3%. The radiation detection company has confirmed the award of a sole source contract for Kromek to supply spectroscopic personal radiation detectors (D3S) in support of DARPA's (the Defense Advanced Research Projects Agency) SIGMA programme.

FALLERS

Argos Resources (LON:ARG), down 13.9%. The Falkland Islands-based company, which has a 5% overriding royalty interest in licence PL0001 in the North Falkland Basin, will receive lower cash payments than previously after the farm-out agreement with Nobel Energy Falklands and Edison International was replaced by a new participation agreement.

Hardide (LON:HDD), down 7.9%. The coatings company said at its annual general meeting that demand from its customers in the upstream oil & gas market remains “very subdued”.

Mirland Development (LON:MLD), down 6.0%. The Russia-focused property developer flagged a $63mln write down in the value of its property portfolio.


Below are some of the main news-driven share price changes among FTSE 350 stocks at 1.00pm.

RISERS

Home Retail Group (LON:HOME), up 12.6%. At the 11th hour, a potential rival bidder has emerged for the company, promising to pay more – and all in cash – than Sainsbury's is offering.

Dechra Pharmaceuticals (LON:DPH), up 8.7%. Half-year results for the animal drugs group got the thumbs-up, with underlying earnings (EBITDA) up 24.6% year-on-year on a constant currency basis,.

Cairn Energy (LON:CNE), up 6.0%. The company has bought an additional 4.5% stake in the Kraken development in the UK North Sea.

FALLERS

HSBC (LON:HSBA), down 2.7%. London's reputation was preserved when global bank HSBC decided to keep its headquarters in the UK capital, and you can interpret that any way you like after the bank revealed it faced a new investigation, this time from the US stock exchange regulator the SEC.

Sainsbury (J) (LON:SBRY), down 2.2%. Home Retail may have reacted well to a rival bidder emerging but Sainsbury's has not.

House builders: Results from Bovis Homes (LON:BVS) were well-received but elsewhere in the second investors are baling out of housing-related stocks such as Bellway (LON:BWY), down 2.7%; Zoopla (LON:ZPLA), down 2.6%; Berkeley group (LON:BKG), down 2.5%; and Taylor Wimpey (LON:TW.), down 2.4%.


Below are some of the main news-driven share price changes at 9.30am.

RISERS

Regency Mines (LON:RGM), up 61.5%. As our oil specialist, Jamie Ashcroft put it, Regency is back in the Horse Hill saddle, buying back into the project after selling out last April.

Salt Lake Potash (LON:SO4), up 34.3%. Following the recent deeper drilling programme, the total mineral resource estimate at the company's Lake Wells Project has increased to 80-85 million tonnes of sulphate of potash (SOP), representing an increase of 193% on the previous resource estimate.

Nostra Terra Oil & Gas (LON:NTOG), up 14.3%. The company has agreed to pay $3mln to acquire a 60% stake in producing onshore assets in the Permian basin, USA, which comprise 55 active vertical oil wells that have been flowing around 122 barrels of oil per day.

LOSERS

Litebulb Group (LON:LBB), down 33.3%. The cash-strapped branded product developer said its loan notes, due for redemption last Friday, are now due to be repaid on 23 March, 2016. That gives the company a bit of time to secure additional funds of around £2mln, which it plans to do by issuing shares.

Edge Resources (LON:EDG), down 10.0%. The company has settled a disputed invoice for $536,000 with a third party. Edge paid no cash to settle the dispute and simultaneously removed around $10,000 in associated joint-interest invoices from its accounts payable.

Red Rock Resources (LON:RRR), down 6.7%. Resource investor Red Rock has received the second tranche of proceeds - namely $225,000 - from the sale of its Colombian gold interests.


 

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