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Penny Share Review 148

Monday 02 September 2002

The Weekend's Comments

The Daily Telegraph on Saturday comments on the biotechnology sector and mentions that Oxford Biomedica (OXB) owns several high profile cancer drugs. Commenting on the sector, the newspaper says "It is a cyclical business, and although it is unlikely to reach the mega-valuations of several years ago in the near future, these companies might just find the potion to turn your base metal into gold". Daily Mail on Saturday reports on the 'Buy' note for Oxford Biomedica at 11.5p from Evolution Beeson Gregory, mentioning that the newsflow from September will begin to move the price. At 11.08 the shares were up 0.5p to 10.25 from Friday's close.

Some of Saturday's newspapers have picked up on the earnings forecast of NMT Group (NMT). The share price fell 0.75p on Friday and closed at 1.25p, after giving warning that its full-year figures would be below expectations despite promises from Gerard Cassels, the finance director, to quash allegations over breach of patents, says The Daily Telegraph. The Independent adds that the decision by its bigger rivals, Med-Design and Becton Dickenson, to go into partnership has also caused NMT difficulties in gaining market share. The shares were up 0.125p to 1.25p at 11.08 from Friday's close.

Mears Group (MER) features in the Ones to Watch column of the Sunday Express. The newspaper reports that with half-year results due on Tuesday, investors looking for a punt on a company with a strong track record should look at the Company, whose order book is said to be close to £300mn. Shares breached the 100p barrier earlier this year and at 75p are worth another look, writes the newspaper. At 11.08, the shares were up 2p to 77p from Friday's close.

Today's Announcements

The following companies, in which City Equities customers may have an interest, released announcements to the market this morning. These can be found by entering the relevant company name or ticker code in the search box on this site.

Blazepoint Group Plc (BLA.L) - Re Contract.
Cater Barnard (CRB.L) - Letter of Intent signed.
Envesta (EVS) - Final Results & Directorate Change.
Host Europe (HER) - Interim Results.
Mediwatch (MDW) - Board Changes, etc.
Screen Plc (SEN.L) - Admission of Shares.
The Wigmore Group (WGT.L) - Interim Results

Look Out For This Week

2 September - Provisional M0 (Aug), Manufacturing and Services PMIs (Aug), US Markets closed for Labor Day holiday.
3 September - Construction sector CIPS, Mears Group half-year results.
4 September - Services sector CIPS, Official reserves (Aug), CBI quarterly distributive trades survey.
5 September - House building data (July), Bank of England monetary policy committee rate decision.
6 September - Industrial production (July).

Compiled by Ozlem McCann

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