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Pharma & Biotech

Footsie recovers after yesterday's sell-off

Britain's blue chips were making progress on Tuesday and Footsie was up 60 points to stand at 6,089.

It came after the sell-off yesterday, which saw investors flee as there were falling commodity prices and amid fears of central banks withdrawing stimulus measures.

The US dow ended Monday's session a whopping 139 down in the red at 14,660 with traders also retreating due to concerns over the Chinese economy and banking system.

In the UK Tuesday, financials and tech stocks were in focus with chip designer ARM Holdings (LON:ARM) the biggest gainer, along with credit specialist Experian (LON:EXPN) doing well.

On the juniopr front, the picture was also looking brighter. FTSE AIM All-share rose 5.25 to 690.53, while FTSE AIM 100 was up around 39 points to 3142,72.

On FTSE AIM 100, investors cheered gold miner Amara Mining (LON:AMA), which was up over 9%.

Also on the up today was iodine specialist Iofina (LON:IOF), which rose 5.7%, while Motive Television (LON:MTV) was also up 10.34%.

Seeing Machines (LON:SEE) rose 7.69% after it revealed it had begun a trial of its technology with one of the world’s leading biggest miners.

BHP Billiton will assess the potential of the company’s Driver Safe System (DSS) fatigue monitors at its Mount Arthur coal mine in New South Wales, Australia.

In all, 15 vehicles will use the units, which incorporate Seeing Machines’ eye tracking system. The 90-day evaluation is valued at over A$300,000, the group said.

Bushveld Minerals (LON:BMN) saw its shares dip slightly after it reported an upbeat drilling update.

Initial results from its Zaaiplaats target at its tin project in South Africa have confirmed the prospectivity of the prospect, it told investors.

Of 43 boreholes sunk during 2012-2013, 39 hit tin mineralisation.

"These results show that mineralisation was intersected in almost every borehole drilled, and confirms the prospectivity of the Zaaiplaats target, especially given the favourable fundamentals for tin in the current market," said chief executive Fortune Mojapelo.

Fusion IP (LON:FIP) shares rose slightly after it said portfolio company MedaPhor had signed an exclusive agreement to sell its range of ultrasound simulators into mainland China.

Tellyes Scientific, a $40m medical simulation manufacturer, based in Tianjin, China is to buy 10 ScanTrainer systems that will be sited in its five regional offices in China.