Financial restructuring at pubs group Punch Taverns (PUB) has investors running scared and the shares collapsing 25% to 10.75p. The effective debt for equity swap deal being proposed would still leave more than £1.5 billion of net debt on the books.
A robust full year performance from computer-aided design software supplier AVEVA (AVV) pulls in the bargain hunters and fires the shares 11% higher to £24.00. That makes for a 21% jump in a month, although investors might be a little concerned by investment caps many large oil groups are putting on new project spend. There'll be more detail in a website story later.
InterContinental Hotels (IHG), the world's largest hotelier, gains 5.6% to £23.51 on bid excitement, having reportedly rejected a £6 billion takeover offer from a US bidder.
Branded soft drinks group A.G. Barr (BAG) fizzes up 10.5p (1.7%) to 633p on a tasty first quarter trading statement. The Tizer-to-IRN BRU maker's sales grew 5.2% over the 15 weeks to 11 May, comfortably ahead of a competitive UK soft drinks market.
Lloyds Banking (LLOY) improves 0.6% to 76.4p as it prepares to start selling its TSB subsidiary through an initial public offering (IPO) next month, which could see the retail bank valued at £1.5 billion. For more details, read this.
UK drugs giant AstraZeneca (AZN) falls 2.3% to £42.26 as Pfizer (PFE:NYSE) looks increasingly like walking away from the deal after three failed bids.
Embattled grocery giant Tesco (TSCO) cheapens 2.15p to 302p on news talks with various potential partners for its loss-making Kipa business in Turkey have come to an end, meaning Kipa will remain part of Tesco's Europe division.
Fashion retailer SuperGroup (SGP) rebounds 44p (4.3%) to £10.64 as buyers swoop following the Superdry brand owner's recent (8 May) disappointing fourth quarter update and mild profits warning.
Buyers are out in force on Active Energy's (AEG:AIM) shares today, up nearly 10% to 2.58p after the renewable energy developer successfully demonstrated a revolutionary Biomass fuel-granulating system to an audience of international partners and specialists. The breakthrough is revealed via an interview with chief executive Richard Spinks on Bloomberg TV.
Mobile enterprise platform supplier Globo (GBO:AIM) rallies 3% to 50.25p as investors anticipate positives from the company's capital markets day today. The company has been under siege since bear raiders attacked the stock late last year.
