SHARES of JKX Oil & Gas shaded to 31.5p but could suffer a sharp fall today. The company, the subject of a fierce takeover battle last year, produced increased losses of pounds 3.3m, A pounds 54m takeover bid by Ramco Energy was defeated by Ukrgazprom, the Ukrainian state-owned oil company, which waded into the stock market, buying a 22 per cent blocking stake and forcing Ramco to walk away.
CALLUNA, an electronics group, put on 3.5p to 34p; the price, 46.25p a year ago, was down to 8.5p at the start of the year. The sparky run stems from unrelated US influences. A transatlantic rival is in financial difficulties and there seem to be strengthening hopes of a major American deal. According to the rumour mill, Calluna's "hardwall" system, aimed at preventing hackers getting into computer networks, has attracted the attention of the Pentagon which is said to be keen to take on the company's product.