Swallowfield, Wishbone Gold and Hardide

“Miners led the blue-chip index as higher commodity prices saw Anglo American, Rio Tinto, BHP Billiton, Antofagasta and Glencore lock out the top of the FTSE100. But sterling weakened as Brexit polls suggested growing momentum for the ‘Leave’ camp,” says AJ Bell Investment Director Russ Mould.

“Cosmetics manufacturer Swallowfield’s shares soared after it agreed an £11m takeover of Brand Architekts which owns and manages a portfolio of mid-premium beauty and personal care brands that are sold in major high street retailers.

“The products complement Swallowfield’s existing range and investors will be reassured of ongoing continuity with Brand Architekts’ owners, Michelle Doolan and Joanne Sinclair, agreeing two-year consultancy deals. Swallowfield’s shares were up by more than 24% in lunchtime trading.

“Wishbone Gold is setting its sights on larger contracts after signing a two-year loan with Sanderson Capital Partners. The $3m loan can be drawn in multiples of $100,000 at any time and will be used to support Wishbone’s gold trading business and for general working capital. Wishbone has traded is small volumes until now due to working capital constraints but the loan will enable it to move on larger deals which it has in place. Wishbone Gold was up nearly 13%.

“Hardide's shares slumped as the downturn in oil and gas exploration took its toll on first half results. The surface coating technology provider has seen a surge in orders from the advanced engineering and aerospace sector but this failed to offset the problems in its core market of oil and gas. Hardide continues to grow its business outside oil and gas where it sees challenging market conditions for the foreseeable future. It is also considering potential funding options for the business as a precautionary measure. Hardide's shares were down by over 12%.”

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