Provexis (PXS)

 

FTSE supported by banks after MBNA acquisition

The blue chip index closed 0.4% higher at 7,043 as banking stocks rallied following Lloyds' acquisition of MBNA.

Continued weakness in commodity prices hit mining stocks Fresnillo (FRRES) and Randgold Resources (RRS).

Brent crude oil rose 1.5% to $55.77 and West Texas Intermediate crude oil was up 1% at $52.65 per barrel, respectively.

Gold slumped over 1% to $1,127 per ounce and copper slid 0.4% lower to $5,489 per tonne.

FTSE 100 RISERS AND FALLERS

P&O cruise operator Carnival (CCL) made waves as its revenue rose from $3.7bn to $3.9bn in the three months to 30 November.

UK banking group Lloyds (LLOY) announced the £1.9bn acquisition of credit card outfit MBNA. In response investors marked the stock 2.2% higher to 63.9p. Lloyds' share of the UK credit card market is expected to increase from 15% to 26% if the deal is approved by regulatory authorities.

FTSE 250 RISERS AND FALLERS

Paysafe (PAYS) launched a share buyback programme of up to £100m to stave off short-sellers, who posed risks to the payment service provider's business model.

SMALL CAP RISERS AND FALLERS

Shares in spatial data company 1Spatial (SPA) crashed 36.3% to 1.7p on guidance for an adjusted earnings before interest, tax, depreciation and amortisation loss for the year to 31 January 2017. The firm blamed the timing of certain key contracts falling into the next financial year.

Shares in medical food developer Provexis (PXS) trading 14.5% higher at 1p on positive results from the second stage of its pilot study for heart-health food ingredient Fruitflow.

Clinical trial services provider Ixico (IXI) was under pressure after it revealed significantly widened full year operating loss of £2.9m due to higher costs, triggering a share price decline of 12%.