A record close in the US overnight, as US lawmakers paved the way for a tax-cut package, helps to drive the FTSE 100 higher this morning. In early trading the index is up 0.3% at 7,545.42.

Tanzanian gold miner Acacia Mining (ACA) gains 1.7% to 215.6p. After announcing progress in its dispute with the authorities in Tanzania yesterday, the group provides a third quarter update. The company says its business is 'resilient' but the statement shows the impact of the  export ban in Tanzania with revenue down 40% and its cash position slipping from $302m a year ago to $95.3m.

Hotelier InterContinental Hotels  (IHG) slips 0.8% to £40.66 as investors ignore a robust performance in the US and Europe in the third quarter to focus on weaker growth in the US. The shares were up around 10% heading into this update following a sell-off in response to first half results.

Support services firm Serco (SRP) is flat at 117.2p as it reveals chief operating officer Ed Casey is returning to the US to take a role with another company. Casey will leave his post on 31 December.

Coal miner Ncondezi Energy (NCCL:AIM) gains 55.3% to 9.12p as it secures an initial agreement with China Machinery Engineering Corporation and General Electric South Africa. The non-binding offer is to enter into exclusive negotiations over the development, construction and operation of an integrated coal fired power project and open pit coal mine in Tete, Mozambique.

Troubled delivery firm DX (DX.:AIM) slumps 5.9% to 10p as it reports zero profit for the 12 months to 30 June. Revenue is up 1.4% to £291.9m but pricing pressures and operational difficulties pressured margins wiping out any profit.

After 'exceptional items' the company reported a pre-tax loss of £82.3m. The new management team of chairman Ron Series and chief executive Lloyd Dunn will provide more detail on their turnaround plans in early 2018.

Small-scale gas-to-liquids and renewable fuels specialist Velocys (VLS:AIM) gains 7.9% to 35.75p as it signs a site option agreement for its first US biorefinery in Natchez, Mississippi.

North Sea oil explorer Jersey Oil & Gas (JOG:AIM) falls 13% to 221p as the market prices in the impact of a placing to raise £20m at a discounted price of 200p.

Fellow small cap oil and gas play President Energy (PPC:AIM) falls as it announces a placing and open offer to raise just over £10m at 10p.

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Issue Date: 20 Oct 2017