Mouchel sank 59 per cent this week after it set out a rescue plan that would all but wipe out shareholders. The infrastructure services group, which in 2010 saw off a bid from VT Group at 294p, proposed a debt-for-equity swap that would give its banks control of the company, leaving investors a special dividend of just 1p per share.
Trinity Mirror rose 38.9 per cent after the newspaper publisher reported a bigger than expected recovery in operating profit on the back of heavy cost cuts and said full-year results would beat forecasts.
A reassuring production update from Exillon Energy lifted the Russian oil explorer by 12.6 per cent. Other small-cap energy stocks followed oil prices higher, with Max Petroleum rising 14 per cent and Rockhopper Exploration up 11.9 per cent.
Zoltav Resources, an oil investment company whose biggest shareholder is Roman Abramovich’s teenage son Arkadiy, jumped 97.4 per cent amid talk of a deal for Siberian assets. The gain remained even after Zoltav said it knew of no reason for the share price strength.
A profit warning came from chain and gear maker Renold, down 26.7 per cent, while Brammer, the industrial parts distributor, dropped 12.4 per cent after its interim results showed slowing growth and a cautious outlook amid weaker market conditions.