2nd Jan 2014 12:28
LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Thursday.
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FTSE 250 - WINNERS
Hikma Pharmaceuticals, up 6%. The company's share price has jumped after UBS upgraded the group to Buy from Neutral, increasing its price target to 1,350.00 pence from 1,050.00p. Analysts at UBS are confident about the potential of antibacterial medicine Doxycycline. Alongside this, UBS believes that the continued weakness in the Japanese Yen could boost second-half EBIT in 2013 by 0.8% to 1%.
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FTSE 250 - LOSERS
Ophir Energy, down 6.5%. The company said that it has concluded its drilling operations on the Mlinzi Mbali-1 well in Block 7 in Tanzania. The well, which was the first of a series of high impact, high risk wells that Ophir will drill through 2014, did not encounter live hydrocarbons. Liberum Capital had valued the well at 24.00p. Ophir shares have fallen 21.30p Thursday.
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AIM - WINNERS
Urals Energy, up 14%. The company has sent a letter to shareholders that recommends they vote against takeover resolutions made by Fire East Corporation at a planned EGM set for January 27.
TXO, up 8.1%. The company has boosted its interest in Oil Recovery Services Ltd to 25% from 15% in a GBP200,000 cash deal. Oil Recovery Services has recently been awarded a contract of works by the Grand Bahama Group Limited and is set to commence work in Freeport, Bahamas this month. As well as recently beginning work on a contract to remediate ship slops and waste oil for the local authorities in Turkey.
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AIM - LOSERS
Kalimantan Gold Corporation, off 26%. The junior exploration company has received a notice of intention from its joint-venture partner Surya Kencana LLC to cease funding and to withdraw from the two firms' copper project in Kalimantan, Indonesia.
Roxi Petroleum, down 21%. The company has experienced delays in the development of deep wells at its BNG Contract Area. Plans to develop deep wells at the site have experienced unexpected permitting delays, due to the precise requirements of various regulatory authorities relating to issues such as operating capabilities and blow-out preventers.
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By James Kemp; [email protected]; @jamespkemp
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