One of the day's biggest risers is Aim-listed Active Energy, which supplies the likes of Ikea and Holiday Inn with energy saving technology.
Its shares have jumped 57% - up 2p to 5.5p - after it unveiled the acquisition of engineering services group Red Line and the appointment of Gavin Little, ex-northern Europe boss of British American Tobacco and one of the Red Line vendors, as its new chairman. The moves are part of the company's strategy to become a broader-based environmental services business.
Active is paying £492,250 for Red Line, issuing 17.9m new shares to fund the deal.
Moving higher after a disposal rather than a purchase is tool rental business Speedy Hire. It has added 2p to 29p after agreeing to sell its accommodation hiring business to Algeco Scotsman for £34.9m in cash. The proceeds will go to reduce its £80m debt pile. Panmure Gordon analyst Paul Jones said:
We believe this is good news on a number of fronts, not the least that it clears up the portfolio further and provides additional headroom on debt. We reiterate our buy recommendation.
