Animalcare, Ferrum Crescent and Koovs

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“The FTSE100 opened on the front foot following on from positive performances on Wall Street and in Asia. Investors are looking to UK employment-related figures and the eurozone's trade balance later this morning while the focus this afternoon will be on US inflation and production data,” says AJ Bell Investment Director Russ Mould.

“Veterinary medicine supplier Animalcare’s shares were up in early trading after a very strong first half. Momentum in the group’s development pipeline continues and with the expected launch of more new pharmaceutical products in the second half, the company is confident about its prospects for the full year and beyond. Animalcare’s shares were up by more than 3.2%.

Ferrum Crescent’s shares tumbled after it terminated a farm-in and joint venture agreement for its Moonlight iron project in South Africa. Business Venture Investments had agreed to earn up to a 43% stake in Ferrum Iron Ore by funding a bankable feasibility study for the project. But the deal has been terminated because BVI failed to complete the first phase of the study, despite an extended deadline. This now leaves Ferrum Crescent mulling its options over the potential development of the project. Ferrum Crescent’s shares were down by over 10.2% in early trading.

Koovs, the fashion business focused on the twenty-something Indian market, has been named Most Popular Fashion Portal Preferred by Youth at the annual Global Youth Marketing Forum in Mumbai. The youth market in India is arguably the most attractive in the world with the number of affluent young urbanites expected to reach 60 million this year, while the market for lifestyle fashion in the country is expected to reach $30bn by 2020.”

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