AquaBounty, Circle Oil and Armadale Capital
Archived article

Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.

“A strong rebound in mining stocks on the back of higher metal prices and better-than-expected UK manufacturing data drove markets higher as G7 finance ministers gathered in Japan to discuss how to address weak economic performance,” says AJ Bell Investment Director Russ Mould.

“AquaBounty Technologies’ shares leapt after its genetically-modified salmon got the go-ahead from Canadian regulators having received approval from the US Food and Drug Administration in November.

“The significance of independent reviews by two of the world’s most sophisticated and demanding regulators deciding that the firm’s fish is as safe and nutritious as farmed Atlantic salmon was not lost on investors with AquaBounty’s shares up by more than 300% in afternoon trading.

“Circle Oil plummeted after an update on its strategic review offered a bleak outlook for investors. Circle has received a number of indicative proposals but warns there is likely to be little or no value for shareholders from any of them after taking its $77.5m outstanding debt into account.

“Armadale Capital was another big faller as it continues to hold talks over a finance package to build its Mpokoto gold project in the Democratic Republic of the Congo. Progress is being made on the project but at a slower pace than initially anticipated.”

These articles are for information purposes only and are not a personal recommendation or advice.

The daily market update is written by Russ Mould, AJ Bell’s Investment Director and his team. The article highlights the movement in the main index, winners and losers on the day and any macro-economic announcements.