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Penny Share Review 167

Monday 20 January 2003

The Weekend's Comments

Axiomlab (AXM) gets a small mention in The Independent on Saturday following the release of interim results on Friday. The paper somewhat surprisingly summarises that the results failed "to impress the market" while highlighting that on the day the shares were up over 20%. Perhaps more Companies should aim to leave the market unimpressed. At 11.28 the shares were unchanged from Friday's close of 1.05p.

Cambridge Mineral Resources (CMR) features in The Sunday Telegraph, a long-term supporter of the Company. The paper first tipped the shares in April 2001 and back in November 2002 advised investors to "hang on". It remains bullish and expects the 64-hole drilling programme to improve the value of the assets. Newmont has departed the scene, but the Telegraph notes that Cambridge has "had several approaches from potential joint venture partners" and urges investors to "keep buying." The shares at 11.29 stood at 11.25p, down 1.5p from Friday's close of 12.75p having touched a mid price at 08.02 of 14.75p.

The Daily Express from Saturday hails the return of Muffin the Mule, apparently the world's first children's television character, to the small screen in time for its 60th anniversary. Maverick Entertainment Group (MVK) has bought the rights to the character and hopes to have a new animated series on air by 2005. Maverick are expected to invest £2m in the Muffin series and have also bought the rights to Muffin stories, which they will adapt and update. It also added to its IP roster by securing the merchandising rights to an Australian children's series called 'Bananas in Pyjamas', which has been showing on GMTV. At 11.29 the shares were unchanged from Friday's close of 2.25p.

NWD Group (NWD.L), formerly Netwindfall, was subject to The Times' rumour of the day feature on Saturday. According to the paper there are rumours that a big contract win, its first, from a European consumer foods giant is "imminent". The shares were up 0.02p to 0.135p from Friday's close at 11.25.

Wayne Rooney finally signed his first professional contract with Everton, The Guardian from Saturday reported. A three-year contract was agreed, which will make Rooney "one of the richest teenagers in world football" after negotiations between Everton and his representatives Proactive Sports (PRS) proved to be much more taxing than first imagined. It is reported that he will earn £13,000-a-week plus bonuses with a wage review after the first year. The shares at 11.54 were unchanged from Friday's close of 7.5p.

The travails of Rage (RGE.L) are featured in Sunday's Observer and Monday's FT. The papers' are using Rage's demise as a sign of the poor health of the software sector and suggested that other firms may soon "follow it down." The Observer reports that the games sector was suffering a "general malaise", while the FT suggests that smaller publishers were being squeezed by consumers' gravitation toward hit titles and the huge costs of developing games. Both agree that Rage's move into publishing was partly to blame as it increased overheads and placed greater pressure on being able to produce hit games, which proved difficult in the face of stiff competition. The FT cautions that the same winds will hit again and that "wary investors burned by Rage will be watching closely." The shares are suspended.

The Guardian from Saturday reports on Trio Holdings' (TRN.L) shares reaching their highest level in six years following a 'buy' recommendation from Walker Cripps. The stockbroker reckons fair value is 30p, given the underlying strength of the business and the fact that larger rival Tullett & Tokyo is set to be taken over by Collins Stewart for 10 times earnings. At 11.35 the shares were unchanged 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.

Arko Energy Hldg (AKO) - Issue of Equity.
Eurasia Mining (EUA) - New Urals acreage.
IMS Maxims (IMX) - Issue of Equity.
Mean Fiddler Music Group (MEF.L) - Acquisition.
Seymour Pierce (SYP.L) - Additional listing.

Look Out For This Week

20 Jan - No major data scheduled.
21 Jan - UK RPI (Dec), BBA analysis of lending, CML mortgage lending survey.
22 Jan - UK CBI quarterly industrial trends survey.
23 Jan - UK Retail slaes consumer price inflation (CPI).
24 Jan - UK GDP preliminary estimate (Q4).

Compiled by Andrew McLintock

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