UK shares are flat in early trade on Thursday as investors mull the implications of the UK's decision to begin air strikes against Islamic State targets in Syria. There's also caution ahead of the ECB's policy decision today. House builders, supermarkets and leisure issues rose cautiously, but miners slumped on lower gold and copper prices.
Online estate agency Purplebricks is set to float on AIM before the year with a £240.3 million market cap. It plans to raise £58.1 million through the IPO to fund the future development of the business. Revenue in September 2015 is reported as being up ten-fold year-on-year - the company launched in April 2014.
An independent report identifying up to 479 billion cubic feet of gas in prospective resources across Cluff Natural Resources' (CLNR:AIM) acreage in the Southern North Sea is exciting the market. The shares are up 15.4% to 3.75p.
Organic growth is back on track at mobile commerce platform operator IMImobile (IMO:AIM) as it posts 10% underlying revenue growth and 29% overall including the acquisition of TextLocal. The shares nudge 2.5p higher to 157.5p.
A damning report on the ShareProphets website spooks investors in mobile marketing firm InternetQ (INTQ:AIM) down 41.7% to 78p. The company has yet to respond.
South African miner Diamondcorp (DCP:AIM) falls 17 % to 6.13p after saying it would try and raise up to £4 million through issuing new shares. The price is expected to be determined later today. It has also struck a deal to push back loan repayments previously due to start in early 2016, taking the financial strain off the business.
Private hospital operator Spire Healthcare (SPI) slides 5.9% to 309.3p as analysts at Investec stick a sell note on the stock due to dwindling referrals from the NHS and proposed orthopaedic price cuts.
Drug discovery and development specialist Redx (REDX:AIM) gains 3.9% to 80p on identifying a candidate it believes could treat pancreatic, triple negative breast and head and neck cancers. It now has four development phase drugs.
Recycled packaging group DS Smith (SMDS) slips 2% to 408.5p on a 26% decline in profit before tax to £91 million in the six months to 31 October as a result of the closure of the Wansbrough paper mill and associated restructuring costs. Revenue is up 6% at constant currency to £1.95 billion. DS Smith has agreed to buy a corrugated packaging business in Turkey after completing three acquisitions in the first half.
IRN-BRU-maker A.G. Barr (BAG) edges up 1.5p to 526.5p on a reassuring third quarter trading statement, with revenue gaining momentum as the soft drinks group put a poor first half behind it. Sales from the continuing business grew 3.9% over the 18 weeks to 28 November, with A.G. Barr maintaining its share of a tough market, though year-to-date sales are still tracking 0.2% below last year's.
Beer brewing behemoth SABMiller (SAB) froths up another 3.5p to £40.49 on a well received mega-merger update. Bidder AB InBev (BUD:NYSE) has informed SABMiller it will explore the sale of a number of its European premium bands, among them Peroni and Grolsch 'and their associated businesses in Italy, the Netherlands and the UK' in order to overcome competition hurdles and get the ambitious deal done.
Camden market owner Market Tech (MKT:AIM) improves 2.1% to 211.5p on an upbeat outlook as it targets moving up to the main market in the second half of its financial year. The value of its net assets improved 10.4% to 155.4p a share in the six months to 30 September as it continues to expand its portfolio.