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12:30GMT 18Nov2009-Altona up on JV with China's CNOOC

Shares in Altona Energy Plc rise 25 percent as the energy firm signs a joint venture deal with a unit of state-owned China National Offshore Oil Corp (CNOOC) to develop its project at Arckaringa in South Australia.
"The new agreement can be seen as giving initial credibility prior to proving commerciality of the project," Ambrian's analyst Julian Emery says in a research note.

"The project will require regulatory approval, off-take and funding arrangements, to leave Altona with an equity interest which could provide a very strong financial return," says Emery, who has a "speculative buy" rating on the stock.
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12:14GMT 18Nov2009-M&S up, Morrison down on Bolland appointment

Shares in Marks & Spencer rise 5 percent as analysts welcome the appointment of Marc Bolland as its new chief executive.

Bolland, currently chief executive of William Morrison Supermarkets , has been widely credited with turning Supermarkets, has been widely credited with turning around Morrison's performance. Shares in Morrison, Britain's fourth-biggest grocer, fall 5 percent as his departure raises questions over the sustainability of its revival.
"Bolland has an extremely good track record at Morrison. It's definitely a good appointment in our view but certainly a surprise," says Sam Hart at Charles Stanley.
"Bolland was probably only two-thirds of the way through the turnaround and restructuring programme at Morrison. That definitely leaves a big void for someone to fill," Hart adds.
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12:00GMT 18Nov2009-UK small caps up 0.1 pct at midday

The FTSE Small Cap index gains 0.1 percent in midday trade, underperforming both the blue chips and the midcaps, which put on 0.4 percent and 0.8 percent, respectively.

Namibia-focused miner Kalahari Minerals climbs more than 4 percent after the firm announces "exceptional assay results" at Rossing South, which is owned by Australia's Extract Resources, in which Kalahari holds a 40.43 percent stake.
Hasgrove sheds 8.5 percent after the marketing and communications services group issues a trading update, with KBC Peel Hunt cutting its rating on the stock to "hold" from "buy".

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11:40GMT 18Nov2009-PureCircle up following surprise placing

Shares in PureCircle Ltd rise as much as 6 percent after the Malaysia-based group says it raises 40 million pounds through a share placing to boost production of its natural sweetener.
The company says it placed 20 million shares at 2 pounds each, a 3.6 percent discount to the stock's Tuesday closing price.
FinnCap analyst Charles Pick says the surprise discounted placing suggests an increase in confidence by the company's management in the potential of Reb A, a natural sweetener extracted from stevia leaves.
Pick, who keeps a "hold" rating pending further information from the company, says the liquidity of shares will be improved.
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10:33GMT 18Nov2009-GTL Resources up on first-half results

Shares in GTL Resources gain 5.2 percent after the AIM-listed ethanol producer swings to first-half pretax profit, which prompts Hoodless Brennan to repeat its speculative "buy" rating, saying the "performance should go some way to restoring confidence".
GTL reports a pre-tax profit of $2.5 million from a loss of $5.9 million for the same period in the previous year, partly as a result of substantially improved market commodity margins, as revenue increased 48 percent to $107 million.
"If this performance continues the group is extremely cheap on a 2010 view at only around 3.3 times earnings," says Hoodless Brennan in a note.
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