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Penny Share Review 241
Monday 28 June 2004
The three pence rise in the shares of Aerobox (ARX) on Friday, following a bullish trading statement, received a mention in the Daily Mail on Saturday. The stock nudged up a penny to 21.25p on Monday.
Shares in Deal Group Media (DGM) rose last week, after one of its rivals Advertising.com, received a bid from AOL for $435m, as noted by the Express and Times on Saturday. Shares in Deal Group Media were unchanged on Monday morning at 7.75p.
The "Upbeat drilling report" from Eurasia Mining's (EUA) South African Kliprivier prospect received a brief mention in the Daily Express on Saturday. Shares in the exploration company were unmoved at 7.00p on Monday.
Griffin Mining (GFM) is mentioned in a Mail on Sunday article on the listing of over 150 small UK firms, without their consent on the Berlin Stock Exchange. Some observers believe the German listings are being used to short sell certain stocks. Griffin announced last week that it's listing in Berlin might be the reason for the recent fall in the share price. The stock traded unchanged at 21.50p on Monday.
In a two page feature, the Daily Express talked about the history of the Glastonbury festival and the increasing popularity of live music events, along with the role Mean Fiddler Music Group (MEF.L) is playing in this trend. Despite costing over £100, tickets for Glastonbury sold out within 24 hours, while the Reading and Leeds festivals sold out within hours. Events promoter, Paul Hutton believes the trend towards the popularity of such events is due to more people downloading music, which frees up cash for going to concerts and those in their forties and fifties who still enjoy seeing live bands. On Monday, the stock stood unchanged at 54.00p.
In the Sunday Times we learnt that Patrick Evershed, the manager of the New Star Select Opportunities fund is looking to invest in companies with exciting new products, backed by strong management. In particular he likes Oxford BioMedica (OXB), which is developing a treatment for cancer and Parkinson's disease. The shares traded unchanged at 19.00p on Monday.
Several papers on Saturday mentioned the fall in the share price of Proactive Sports (PAS.L) on Friday, after the injury of one of the players on its books, Wayne Rooney and the elimination of England from Euro 2004. On Monday morning the shares were unchanged from last week at 8.38p.
The Guardian on Saturday recapped on Quiktrak Networks (QTR.L) trading statement and on plans to raise £0.85m in a placing at 1.5p. The stock traded unchanged at 2.50p on Monday.
The Daily Mail on Saturday reported on the upbeat AGM at Sopheon (SPE) and the raising of £1m for working capital via a placing at 21.5p. Shares in Sopheon stood firm at 26.00p on Monday.
NB: The prices quoted above were taken just before 10.30 on Monday 28 June 2004.
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.
Albidon Limited - Quotation of shares on ASX.
Eckoh Tech - Directorate change.
Honeygrove Group - Interims.
Matrix Comms - Contract win.
MOS International - New orders.
Oxus Mining - Jerooy update.
Look out for this week
Monday, 28 June - Honeygrove Group (I).
Tuesday, 29 June - Accident Exchange Group (F), UK Consumer credit and mortgages.
Wednesday, 30 June - US interest rate decision, UK GDP and balance of payments.
Thursday, 1 July - UK manufacturing and business investment.
Friday, 2 July - US non farm payrolls.
The next Penny Share Review will be posted on Monday, 5 July 2004.
Compiled by Jason Robertson
Penny Shares Online - penny shares research and information service.
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.