Exploration company Kefi Minerals (KEFI:AIM) is to buy the remaining 25% of the Tulu Kapi gold prospect in Ethiopia that it didn't already own. It is encouraging news in its attempts to buy the project acquired last December, moving the share price 4.8% higher to 1.62p. The seller is Nyota Minerals (NYO:AIM), up 18.9% to 0.32p, which will get £1.5 million split equally between cash and shares, the latter will be distributed to its shareholders.

Supermarkets giant Sainsbury's (SBRY) skips 7.2p (2.2%) higher to 337p early on as an in-line first quarter trading statement calms nerves. While the grocer's like-for-like sales softened 1.1% (excluding fuel) over the 12 weeks to 7 June, a second consecutive quarter of falling sales amid discount competition, Sainsbury's shows it is performing better than embattled rivals Morrisons (MRW) and Tesco (TSCO) in a weak grocery market.

Aircraft engine manufacturer Rolls-Royce (RR.) falls 1.5% to £10.60 on the cancellation of an order from Emirates airlines for 70 A350 aircraft. Rolls has a large footprint in the A350 through its Trent XWB engines and today's announcement sees the order book reduce by around 3.5% or £2.6 billion.

Specialist drilling contractor Greka Drilling (GDL:AIM) advances 14.3% to 12p as it indicates its confidence in the outlook for the current financial year alongside its final results and flags growth potential in India and China. In 2013 revenues halved year-on-year to $30.5 million as Greka’s operations were hit by a drop in work load because a contracted programme with former parent Green Dragon Gas (GDG:AIM) was cut short.

Kitchens and furniture maker and retailer John Lewis of Hungerford (JLH:AIM) loses 9.1% at 1.75p. In its third quarter trading update, the Aim minnow warns of a fall in full-year operating profits reflecting investment in new showrooms.

Product lifecycle software supplier Sopheon (SPE:AIM) feels the pressure of extended revenue recognition as contracts become longer and more complex. The market reads the AGM statement as a likely weaker than hoped-for first half, marking the shares 7% lower to 67.5p.

Heart monitor-maker LiDCO (LID:AIM) rises 5.6% to 18.7p on the company well positioned for financial growth, it says in an AGM statement.

Infrastructure specialist Hyder Consulting (HYC) dips 0.8% to 472p as full-year pre-tax profit drops 21.3% to £17 million because of delays in new contract awards in Australia and a poor performance in Germany. This is the first time since 2005 that it has failed to increase adjusted operating profit. Analysts conclude from the results commentary that the group is 'slowly turning a corner' from earlier problems.

A strengthened management team and product development costs are squeezing profits at recruitment consultant and headhunter software supplier Dillistone (DSG:AIM). But these factors were first flagged in full year results in April, explaining the shares' robust performance today, off just 0.5p to 105p.

Cash-generative newsagent WH Smith (SMWH) rises 5p to £10.99 as a better-than-expected trading update triggers upgrades. Though the stationer and bookseller's like-for-like sales eased 2% in the 14 weeks to 7 June, this was ahead of the 3% fall forecast by Cantor Fitzgerald, while the High Street retailer flags improving gross margins as well as continuing improvement in sales in its travel division.

Shopping centre owner NewRiver Retail (NRR:AIM) receives a tepid response to its acquisition of four retail park properties for £17.3 million, on a 9.12% net initial yield. It improves 0.4% to 316.5p.

Regional airline Flybe (FLYB) slips 2% to 137.25p after the Exeter-based carrier's final results revealed an 1% rise in group revenue to £620.5 million which translated to profit before tax of £8.1 million.

Avation (AVAP) moves 6.45% higher as the group's interim management statement confirms that net revenues in the year to date are on track to exceed market expectations for the year ending 30 June 2014 with profit before tax expected to rise 25% to £17.5 million.

Small cap marketing services play Creston (CRE) reports finals slightly ahead of forecasts from Liberum, with a pre-tax profit outcome to March 2014 of £74.9 million versus its prediction of £74.7 million. The broker has reiterated its 125p target price. The shares remain flat at 107p.


Issue Date: 11 Jun 2014