Word that Jessops had pushed back the release of its results boosted hopes that the camera retailer can be rehabilitated.

Investors had been expecting Jessops’ interim report as soon as today, even though the company had not officially set a date. It is understood to be holding back the release until June to allow David Adams, its new executive chairman, to complete a strategic review. Mr Adams was among the architects of House of Fraser’s turn-around, culminating in the department store’s sale to Baugur last year. Jessops shares rose to a one-month high of 22p, before narrowing the gain to close up 1¼p at 21p. Takeover speculation played a part in the rally, although sources indicated that there had been no approaches.

CDS Oil & Gas jumped 0.62p to 2.37p on talk that a group of private investors were looking to make a substantial investment in the Paraguay-based explorer. After the close, CDS said that it was discussing a share issue, but added that the deal would be at a discount to yesterday’s closing price and would not trigger a takeover.

KSK Power Ventur, the Indian developer and operator of power stations, added 15p to 255p after the official opening of its latest plant in the country’s Chandrapur district.

The day’s biggest casualty was Futura Medical, which lost 18p to 40½p after GlaxoSmith-Kline dropped plans to develop its erectile dysfunction gel.

Institutional demand for the electric vehicle maker Tanfield, up 2¾p to 127p, looks set to continue after Morgan Stanley started coverage with an “overweight” rating and 250p target price in a note sent to clients after the close of trade.

Hot Tuna held steady at 15½p ahead of news expected today on its new chief executive. The surfwear maker is understood to have poached Niels Juul, the managing director of Von Dutch.

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