Investors in Mwana Africa, which owns a big nickel mine in Zimbabwe, were gambling yesterday on President Mugabe suffering an electoral defeat, sending the company’s shares soaring 8p to 41p. The company’s Bindura nickel mine is productive, but it is valued at zero in Mwana’s share price amid the country’s economic chaos, runaway inflation and government regulation that prevent it making a profit on nickel sales.

Central African Gold, which has a mine in Zimbabwe, closed up 1¼p at 33½p. Aquarius Platinum also has a mine in Zimbabwe, but it ended the day down 4½p at 745½p.

Hornby, the maker of model trains, came off the rails somewhat, falling 16p to 189½p as it said that demand in Britain had slumped in the past few weeks, while sales to Europe had been hit by delays in receiving products from the Far East. Dresdner Kleinwort cut its target price from 300p to 214p.

Fortune Oil jumped 0.96p to 8.5p after it bought a gas distribution business in Xinyang, China, and had had its coal bed methane resource in China independently valued at $184 million (£93 million).

Victoria Oil & Gas rose 9¾p to 29p after it said that Russian authorities were expected to allow it to register a discovery at its Siberian gas project at West Medvezhye, which should allow it to move from exploration to production. It also announced first recoverable reserves.

Camec closed up 4¾p at 54p after Credit Suisse cut its target price to 120p but retained a “buy”, saying that the rising price of cobalt should support it.

Heritage Oil, a producer in Russia and Oman and an explorer in Africa and Iraq, rose to 298p from its 267p price after switching its listing from the Toronto stock exchange.

Eros International, the Bollywood film group, rose 12½p to 307½p, as it signed a series of big television syndication deals.

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