The FTSE 1oo is off modestly in early trading as banking stocks take a bath on the news Deutsche Bank (DBK:ETR) faces a $14 billion fine in the US.

The Royal Bank of Scotland (RBS) is the biggest faller down 4% at 186p.

Distribution and aviation services outfit John Menzies (MNZS) is up 5.4% to 624p as it announces a £75 million rights issue to fund the purchase of commercial airline services provider ASIG from BBA Aviation for $202 million. Shares in BBA are up 2.2% to 241.5p.

Small cap software Intercede (IGP:AIM) falls 43.7% to 51.5p as it warns on profits thanks to delays in orders for its credential management system MyID

Wholesale data telecoms play Avanti Communications (AVN:AIM) gains 13.5% to 35.74p as it announces progress with a strategic review to address its balance sheet issues and unveils a new contract with the European Space Agency to provide satellite broadband in Sub-Saharan Africa.

The UK's leading ten-pin bowling operator Hollywood Bowl reveals the offer price for its upcoming IPO at 160p – implying a £240 million market cap when it joins the Main Market.

Waste management firm Shanks (SKS) ticks up 0.7% to 103p as it reveals an extension to the exclusivity agreement on its proposed merger with Dutch rival VGG and confirms current trading is in line with expectations.

Veterinary medicines specialist Dechra Pharmaceuticals (DPH) gains 1% to £13.74 as it announces the acquisition of Australian peer Apex Laboratories for $55 million. The company says the deal will offer direct access to a 'companion animal product market' which currently has 4.2 million dogs and 3.3 million cats.

Fellow animal drug company Eco Animal Health (EAH:AIM) is up 13.1% to 497.5p as it reports sales significantly ahead year-on-year in the first five months of its financial year and signals a currency tailwind from sterling weakness. Interim results to 30 September will be reported in December.

Transformer oil recycler Hydrodec (HYR:AIM) gains 8.3% to 3.25p as it reports a 148% increase in revenue from its core re-refining business reflecting the full commissioning of its new plant in Canton, Ohio.

News that cancer-focused therapy developer Scancell (SCLP:AIM) needs to raise cash to take its three pipeline treatments through clinical studies sends the stock 7.3% lower to 15.7p.



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Issue Date: 16 Sep 2016