Finnish nickel producer Talvivaara (TALV) soars 73.5% to 5.7p after investors show relief at the troubled miner being given extra time to apply for a corporate restructuring, no doubt fueled by a short squeeze as people betting against the company are forced to close out their positions through margin calls.
Industrial services provider Cape (CIU) gains 2.8% to 275.3p on news of a £155 million painting, insulation and fireproofing contract on the Wheatstone liquefied natural gas project in Australia. This is Cape's second contract associated with the development, it announced a £45 million scaffolding award alongside its profit warning earlier this month (15 Nov).
Latin American energy play Andes Energia (AEN:AIM) gushes up 4.9% to 24.3p as it welcomes news of a compensation deal between the Spanish firm Repsol (REP:MC) and the Argentine authorities. In April last year Argentina seized Repsol's assets in the country and thereby increased the perception of political risk. Andes, which has a number of Argentinian assets, says the agreement 'represents a dramatic positive change for the Argentine oil and gas business environment'.
Facial fatigue recognition kit supplier Seeing Machines (SEE:AIM) pulls off a £15 million fundraising aimed at easing working capital pressure as its market opportunities expand. The over-subscribed placing was struck at 5p, at 49% discount to last night's 7.45p close, although the shares were just 5.5p six weeks back when funding talks first started. The stock rallies off steep early trading declines to 6.75p, 8.5% down. The company, which Shares analysed in August, eyes opportunities outside of its current mining base in consumer electronics, utilities, even education.
Broadcast and surveillance equipment supplier Vislink (VLK:AIM) is moving from the main market to Aim. The market takes the news negatively, clipping more than 6% off the shares to 44.75p, although analysts at Singer see this as a sensible lower cost switch that will give the company flexibility to meet its £80 million revenue/£8 million operating profit target by end 2014.
It's a solid start for the latest UK tech company to join Aim, with shares in Kalibrate Technologies (KLBT:AIM) jumping 10p to 89p in its first day of trading. Kalibrate supplies petrol retail pricing and market data software to US and European customers. The £13.1 million of fresh funding will largely go towards expansion across Latin America, the Middle East and Asia.
JD Sports Fashion (JD.) skips 78.5p (6.3%) higher to £13.20 on a well-received third quarter trading update. Buoyed by improving like-for-like sales trends, the sportswear-to-outdoor clothing company expects to deliver full year earnings 'at least' in line with the £69.5 million consensus profits estimate.
Vending machines operator SnackTime (SNAK:AIM) sheds 5p to 13p despite delivering in-line half-year figures. The snack dispensing specialist pared losses from £1.56 million to £690,000, although investors appear unimpressed with a 6.6% sales decrease to £9.5 million. This puts pressure on the £2.9 million cap to deliver a stronger winter season, while net bank borrowings of £3.3 million exceed the group's market value.
Car dealer Caffyns (CFYN) motors almost 9% higher to 585p on bumper half-time figures showing pre-tax profits up 134% to £1.03 million. Like-for-like sales of new and used cars rose 20.8% and 17.6% in the six months to September amid buoyant UK car market conditions.
Lettings agency Belvoir Lettings (BLV:AIM) rises 2.2% to 185.5p after two of its franchisees buy a portfolio in Cheshire and Merseyside. The group, a Shares Play of the Week (14 Mar), assisted its Warrington and St Helens businesses in buying the portfolio to expand its estate.
Shopping centre-owner Hammerson (HMSO) improves 0.4% to 514.5p as raises $443 million of debt from nine US institutions to help refinance its bond maturities in 2015. It will pay on average 3.6% in interest for the seven, 10 and 12-year loan notes.