Embattled graphics chip designer Imagination Technologies (IMG) at last gets investors on side after unveiling a much expanded, multi-year deal with Mediatek. Imagination's PowerVR series6 family of chips used by the Taiwanese chip manufacturer, sparking a near-9% jump in the supplier to 334.6p. We flagged the scope for PowerVR as a catalyst in last week's Big Debate section of Shares.
UK mobile network Vodafone (VOD) squeezes over the 75% line of shareholder approvals needed to secure its Deutsche Kabel acquisition. The shares barely move, at 210.7p, but this is an important step along the road to full quad-play (calls, broadband, mobile, TV) in Germany, and beyond.
Hot on the heels of a negative statement from Ryanair (RYA), Irish carrier Aer Lingus (AERL) issues a profit warning, sending its shares down 8.5% to €1.45. It is blaming warm weather in July and August for falling passenger volumes.
Healthcare software supplier EMIS (EMIS) pulls the trigger on the £57.5 million acquisition of Ascribe, effectively flinging the door open to the secondary care market. A £27.1 million cash call pitched at 615p (a 7% discount) restrains the share price, flat at 663p, although we wouldn't be surprised for the real value to be understood over the coming weeks.
Talent management software microcap NetDimensions (NETD:AIM) rallies 3% to 62p after securing a $5 million loan deal with Silicon Valley Bank. This provides finance muscle and flexibility as Hong Kong-based former Play of the Week sacrifices short-term profits for bigger future growth hopes, a strategy that has so far proved our nervousness misplaced.
Zanaga Iron Ore (ZIOC:AIM) shoots up 11% to 29.5p after reassuring investors that partner, Glencore Xstrata (GLEN) is still committed to its flagship project. This follows a presentation from Glencore earlier this week that said Xstrata's greenfield exploration projects would be 'deprioritised'. Zanaga and Glencore will jointly fund the iron ore project in West Africa and develop it in stages. This will lower the initial capital requirement and means there is a chance of starting production using existing infrastructure.
After a series of disappointing trading updates, there's good news for Styles & Wood (STY). The property services group rises 12.8% to 5.5p after winning a place on the framework to refurbish Post Office stores.
A slump in the gold price late yesterday is now taking its grip on gold mining equities, although we are surprised not to see bigger falls. Gold fell 2.6% to $1,330 per ounce. The spot market now puts the shiny metal down a further 0.7% to $1,312. Normally when gold falls, gold mining equities fall by a much greater percentage. Yet today we've only got a 4.2% decline in Polymetal (POLY) and 5.3% drop in African Barrick Gold (ABG) as the biggest movers.
After yesterday's confirmation from AMEC (AMEC) that it was walking away from a £700 million bid for oil services firm Kentz (LON:KENZ), the other potential rival bidder, Germany's M+W, is also opting out. With no other suitors on the immediate horizon the market marks the shares down 2.4% to 486.9p.
Investors are looking forward to results from Tethys Petroleum's (TPL) latest exploration well in Kazakhstan - driving the share price up 5.4% to 42.7p. The AKD08 or Doto well has commenced drilling and is expected to take around 70 days to reach its targeted depth.
Luxury car dealer HR Owen (HRO) accelerates another 4p higher to 166.5p as the board recommends an improved takeover offer from Berjaya Philippines (BCOR:PM) which has now amassed a 41.5% stake. The increased mandatory cash offer is pitched at 170p.
Loss-making Blavod Wines & Spirits (BES:AIM) regains 12.5% at 0.9p on a trading statement, no doubt prompted by big falls in the share price since full-year results on 4 September. The premium drinks brands owner, targeting monthly break-even 'for the early part of next financial year', cites falling costs and rising higher margin owned-brand sales over the five months to end-August.
Property developer and manager Songbird Estates (SBD: AIM) rises 2.9% to 155.6p as its interim pre-tax profit nearly trebles. The landlord made £239.3 million in the six months to July, compared to £82.3 million a year ago. During the period the value of its portfolio increased 2.6% to £5.6 billion, although cash collected from its operations slipped to £105.8 million from £169.5 million in the opening six months of 2012.