Pharmaceutical group Shire (SHP) leads the FTSE 100 lower as it falls more than 3.5% to £46.98, valuing the business at £27.6 billion. That's still 12% below the recently recommended takeover offer from US rival AbbVie.
Ukraine-focused iron ore group Ferrexpo (FXPO) delivers a strong jump in profits in the first half despite the wider geopolitical crisis, with its bottom line helped by the devaluation of the local currency. The shares edge up 1% to 133.6p.
The bad news was already in the price as emerging market-focused lender Standard Chartered (STAN) remains at £12.17 on pre-tax profits dropping 20% to $3.2 billion in the first six months of the year.
Accounting and HR software supplier Sage (SGE) finally sorts out its succession issues by appointing former Micro Focus (MCRO) boss Stephen Kelly as CEO elect. Kelly, who had been head of efficiency and reform for the UK government, will takeover from Guy Berruyer on 5 November.
Fuel cells battery developer ACTA (ACTA) slumps 19% to 3.12p as it raises £2 million in an institutional share placing. Retail investors miss out on the 19% discounted share sale.
Globally-renowned stamp dealer Stanley Gibbons (SGI:AIM) gains 2p at 300.5p on the £4.5 million sale of its Adelphi Terrace freehold site in London. Shares examined the philatelic retailer's global growth and online potential in a news analysis in June.
Cannabis-based drugs maker GW Pharmaceuticals (GWP:AIM) falls 1.7% to 413.7p as losses more than treble in the third quarter to £6.9 million on increased R&D investment. The stock is 49% up since Shares flagged the story in February.
Commercial property investor Palace Capital (PCA:AIM) slips 1.5% to 327.5p on announcing a £20 million placing on a 6.8% discount. The proceeds will be used to help buy Property Investment for £32 million.
The market responds positively to news that engineered wood specialist Accsys Technologies (AXS:AIM) has entered into a global agreement with Solvay, the Belgian chemical group. The shares are up 4.9% at €0.22.
An encouraging trading update from China Chaintek (CTEK:AIM) sees shares in the Chinese logistics specialist adding 2.6% to 100p. The compnay tells investors that pre-tax profit will be 9% upon last year at RMB 144.7 million, or roughly £13.9 million.