A warning over 2016 earnings expectations sends FTSE 100 outsourcer Serco (SRP) down 7.3% to 106p. While 2015 profit is set to beat market forecasts at £95 million, next year’s guidance is for a mere £50 million.
Luxury interior furnishings firm Walker Greenbank (WGB:AIM) is marked down 4.4% to 207.5p as it warns profit will be hit by flooding at its Lancaster-based factory, caused by heavy rain brought by Storm Desmond over the weekend. Read our news analysis for more information on how the incident could affect earnings.
North Sea group Independent Oil & Gas (IOG:AIM) gains 34.2% to 7.55p as it secures £4.75 million in debt funding for an appraisal well on its Skipper prospect. The company hopes to drill a well early in 2016. We talk about why this news is significant and the next share price catalyst for the firm in this article.
Independent Oil & Gas is a rare share price riser in a weak sector. Oil prices and thus the oil and gas sector are under pressure after producers’ cartel OPEC failed to take action to support the oil price at its meeting on Friday (4 Dec). BP (BP.) falls 2.5% to 350.8p and Royal Dutch Shell (RDSB) is down 2.1% to £15.52.
Sunrise Resources (SRES:AIM) jumps 28.6% to 0.23p after staking a claim for a second industrial minerals project in Nevada, US. It says the Pozz Ash Project could contain material that could act as an environmentally-friendly replacement for Portland cement in the manufacture of cement and concrete mixes.
InternetQ (INTQ:AIM) bounces back after last week’s bear raid on the stock. It jumps 22.6% to 76p after issuing a response to allegations about the business.
Iluka Resources has ended takeover talks with highly indebted minerals sands producer Kenmare Resources (KMR). Iluka says it made a revised proposed in November at a lower level than April’s approach. The market doesn’t seem too surprised with Kenmare’s share price only falling 5.8% on the news.
Trinidad focused hydrocarbons producer LGO Energy (LGO:AIM) falls 23.5% to 0.325p as it puts itself up for sale after suffering from the impact of depressed oil prices and operational issues.
Online gambling group 888 (888) edges up 1.3% to 174.5p after saying adjusted EBITDA (earnings before interest, tax, depreciation and amortisation) for the year ending 31 December 2015 will be at the top end of analysts' expectations, namely $78 million. 888 says its sport and casino businesses are performing particularly well.
Home insurer RSA (RSA) improves 2% to 445.4p on the Prudential Regulation Authority approving its Solvency II plans to ensure it will have enough reserves to withstand a financial shock. Details are yet to be released.
Property agency Belvoir Lettings (BLV:AIM) rises 2.5% to 119p on attracting 31% more franchisees in 2015. Acquisitions have played a role in this growth but the recruitment pipeline remains strong with two potential franchisees committed to February’s training course.
Property developer U and I (UAI) climbs 3.3% to 228.7p on making a £2.7 million profit from the sale of projects in Watford and Glasgow. This is part of a plan to recycle cash out of smaller projects and into larger developments.
Advanced surface coating technology developer Hardide (HDD:AIM) plunges 11.4% to 1.1p after posting a pre-tax loss of £207,000 in the year to September as the result of a significant slowdown in oil and gas markets.