Rumour of the day

Gold Frost, a developer and distributor of kosher dairy products, rose 1½p to 31p amid talk that it could be a takeover target, with Nestlé mooted as a potential bidder. Gold Frost was spun out of Willi-Food International in March last year, with the Israeli company retaining a 76 per cent stake. However, the AIM-listed stock has traded below its 35p issue price since December.

Deal of the day

Carpathian Resources, one of the top-performing stocks in recent months, hit a record high after one of its nonexecutive directors took a maiden stake. Doug Jendry added 277,931 shares in the Czech oil and gas explorer to an investment fund under his control, spending about £25,000. The shares, which had stood at 2p in April, climbed 1¼p to 13p.

Bet of the day

Optimism is in short supply before a trading update today from Woolworths, with analysts predicting sales growth to have deteriorated since March. Spreadex offered the stock at 27.45p-28.20p expiring on June 19, against a 27¾p cash close.

Tiddler to watch

Mirabaud Securities started coverage of GMA Resources with a “buy” rating. The goldminer’s majority-owned site in Algeria is close to stepping up production significantly, with the annual yield rising fivefold to 108,600 ounces next year, the broker said. That led it to a base-case valuation of 19p per share. The AIM-listed stock paused at 12¾p.

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