London stocks run higher in early trade on Monday with mining behemoths centre stage among the risers, helped by a supporting cast of financials and property outfits. This as Europe began on a firmly positive note. Asian bourses are also rising this morning, while Wall Street gained on Friday.
The FTSE 100 index rises 27 points, or about 0.45%, to 6,167 with midcaps and smaller companies adding similarly.
Micro-cap oil and gas company MX Oil (MXO:AIM) is down 26.7% to 0.82 as it raises £2.5 million pre-expenses in an over-subscribed placing of new shares at 0.75p. The proceeds will be used fund the final payment in connection with its Nigerian investment prior to the commencement of oil production.
Five-a-side football centre operator Goals Soccer Centres (GOAL:AIM) falls 6% to 109.5p on a 6.3% drop in like-for-like sales in 2015, with underlying pre-tax profit down 21.7% to £8.3 million. The group says it saw a significant downturn in the second half and faces increased competition from new grant-aided full size pitches. Read SHARES web story here.
Video games developer Frontier Developments (FDEV:AIM) gains 3.8% to 207.5p on news its Elite Dangerous game will support Facebook's Oculus Rift Virtual Reality headset when it is launched on 28 March. Frontier will distribute the Elite Dangerous Deluxe edition via the Oculus store.
Music and audio products supplier Focusrite (TNE:AIM) adds 2.4% to 172.5p after saying revenue in the six months to 29 February will be around £25.5 million, 7% higher than the previous year. The group achieved double-digit revenue growth in the second quarter.
Small cap asset manager Frenkel Topping (FEN:AIM) gains 5.6% to 56.5p as chairman David Southworth outlines an ambition to double operating profit in two years. Earnings per share declined 27% to 1.59p because of investments in new advisers and an increase in the share count following Frenkel's stock-funded acquisition of FC Fund Managers in September 2015, valued at £4.4 million.
Premium mixer pioneer Fevertree Drinks (FEVR:AIM) falls 2% to 570.5p despite serving up fantastic final results, possibly on the absence of another round of upgrades for now. For the year to December, sales fizzed more than 70% higher to £59.3 million, revenue growth achieved across all regions and flavours. CEO Tim Warrillow also flags an encouraging start to 2016.
Petrol forecourt retailer Applegreen (APGN:AIM), a running Play of the Week, ripens up 4p to 355p on outstanding maiden full-year results as a public company, growth in sales and profits delivered in the UK and Republic of Ireland. There's also a confident outlook statement, with Applegreen highlighting strong consumer sentiment, particularly in Ireland, and 'a positive and encouraging start to 2016'.
Cash-strapped rarities retailer Stanley Gibbons' (SGI:AIM) woeful run continues, the shares off another 9.2% to 20.88p on plans to raise £13 million, more than the previously guided £10 million, through a discounted placing and open offer to repay debt, fund restructuring and top up depleted working capital coffers.
UAE-focused health company NMC Health (NMC) gains 5.2% on a 10% rise in pre-tax profit to $85 million in 2015 and expectations of further growth driven by its growing portfolio of hospitals and clinics.
Moscow warehouse investor Raven Russia (RUS) dives 7% to 31.4p on losses widening to $192.4 million in 2015 from $88.2 million in 12 months as sanctions and currency devaluations continue to hit the business.