On a quiet day for corporate news the mining sector is boosted by positive Chinese data but the FTSE 100 shows muted gains, up 0.2% to 7,374.81, ahead of the hotly anticipated decision on interest rates from the US Federal Reserve this evening.
Pharmaceutical giant Astrazeneca (AZN) ticks slightly higher to £48.72 as it notes results from the Phase 3 trial of its ovarian cancer treatment Lynparza demonstrated a ‘significant improvement in progression-free survival’.
Fellow drugmaker Hikma Pharmaceuticals (HIK) surges 6.2% higher to £22.55 as investors look past a 39% decline in 2016 profit on lower revenue from generic medicine, increased investment and currency movements to focus on a positive outlook and an increase in the dividend.
Diamond miner Gem Diamonds (GEMD) falls 6.9% to 108p as it posts 2016 pre-tax profit down 47% to $52.4m after mothballing the Ghagoo mine in Botswana in response to a fall in diamond prices.
Oil producer Premier Oil (PMO) gains 9.7% to 60.1p as it locks in a final convertible bondholder to its proposed refinancing.
Commercial property specialist LondonMetric Property (LMP) slips 0.5% lower to 150.5p as it agrees the sale of three retail parks in Christchurch, Bedford and Maidstone for a combined £60.9m.
Mobile phones app store Mobile Streams (MOS:AIM) slumps 17.9% to 2.88p as it warns on full year earnings and revenue thanks to difficult trading conditions in Argentina.
Mobile casino operator Nektan (NKTN:AIM) is 29% higher to 20p as its US subsidiary Respin Games signs its first major contract with a US casino operator to launch its real money in-venue games solution across the pond.
Micro cap US oil producer Magnolia Petroleum (MAGP:AIM) gains 47.4% to 0.14p as it reports a 112% increase in oil reserves and 303% increase in natural gas reserves.
