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Penny Share Review 177

Monday 31 March 2003

In a Daily Mail article on Saturday about smaller companies ploughing on steadily, despite a depressed share price, we learn of growth story, Country & Metropolitan (CRY.L), with forward sales of £35m. The Group should make £6.8m for the ten months to June, reckons the paper. The article concludes, the shares are "too cheap". The stock ticked up two pence on Monday to 102.5p at 10.06am.

"Evidence of stake building" at Elite Strategies (ETS.L) comments Saturday's Independent in the market report section, following Paul Kingston's purchase of 9.6 million shares last week. Paul is a director of Croesus Financial Services Limited, which was recently acquired by Elite. The shares were unchanged at 0.44p on Monday morning.

In a large piece, the Daily Express comments on the reverse takeover of Universal Direct Group by Medi@invest (MIN.L). The business buys unwanted goods such as TV's, DVD players and hi-fis from electrical manufacturers and shops, refurbishes them and then sells them onto high street discount retailers. Shares in the Company remained unchanged at 0.39p on Monday morning.

The Times on Saturday briefly reports on the suspension of trading in the shares of Multi Group (MLT.L), pending clarification of the financial position and comments on the impact this had on Friday on larger quoted rival, Speedy Hire.

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.

Mean Fiddler Music Group (MEF.L) - Activity update.
SectorGuard (SGD) - Acquisition.

Look Out For This Week

31 Mar - Gordon Brown's speech at British Chamber of Commerce conference.
01 Apr - UK manufacturing and CBI retail sales.
02 Apr - Lupus Capital and Mears final results.
03 Apr - Alizyme final results and UK mortgage equity withdrawal.
04 Apr - Alan Greenspan's speech at financial markets conference.

Compiled by J Robertson

Penny Shares Online - penny shares research and information service.




Risk Warning

There is an extra risk of losing money when shares are bought in some smaller companies including 'Penny Shares'. There is a big difference between the buying price and the selling price of these shares. If they have to be sold immediately, you may get back much less than you paid for them or you may have difficulty in selling them. Past performance is not a reliable indicator of future results. The price may change quickly and it may go down as well as up. You could lose every penny put into a particular share.

The information contained above has been compiled from documented sources which are believed to be reliable but, due to their very nature, are subject to a degree of historical inaccuracy and have not been independently verified and cannot be guaranteed. The pages on this website are provided for information only. City Equities Limited will not accept responsibility for loss incurred by any person or body acting, or refraining from acting, as a result of information and/or opinions given anywhere on this website. Issued by City Equities Limited, Aldermary House, 10-15 Queen Street, London, EC4N 1TY. Registered in England. Registered No. 2742847. Registered Address: Amwell House, 19 Amwell Street, Hoddeson, Herts. EN11 8TS. City Equities Limited is Authorised and regulated by the Financial Services Authority. Registration No. 155051.