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Penny Share Review 289
06 June 2005
Press
Saturday’s Independent noted a share price increase and the raising of £320k through a placing by Arc Risk Management (ARC.L). Monday morning saw the shares 0.08p better off at 0.80p. The same newspaper also reported that a major contract win may be in the pipeline for Constellation Corp (CST) and as a result, the shares enjoyed further improvement this morning as they increased 0.02p to 0.13p.
Delling Group (DLG) featured in today’s Times, which stated that results are to be released tomorrow and that the house broker, Seymour Pierce, is looking for pre-tax profits of £1.5m. Anticipation has perhaps aided the 2.50p increase, seen this morning, as the share price reached 22.00p.
This weekend’s The Business included a piece that provided commentary on the progress of Entertainment Rights (ERT). Postman Pat’s move to the US was heralded as good news and sales of the first issue of a magazine, launched by the BBC, featuring the character hit 80,000 copies, emphasising the popularity of this brand. The article did remark that having one successful character is not enough for a company wishing to be successful in this area of the market and ER was praised for spreading its portfolio with characters such as Basil Brush and the Little Red Tractor. The outlook was said to be positive due to the increasing number of TV channels and the piece concluded that the shares were a good long-term investment. An increase of 1.00p was seen this morning as the price reached 28.25p.
An article in Sunday’s Observer featuring Formation Group (FRM) proved that the power of having Wayne Rooney as a client should not be underestimated. It’s business front-page article provided coverage on the recent release of figures by the group and the piece speculated that the Company’s activities could widen through the acquisition of an insurance company. Regardless of this media attention, the market saw no change in the share price this morning, as the shares remained at 7.38p.
Interregnum (ITR.L) featured in Saturday’s Independent, which remarked on negative share price movement, as the planned floatation of its Red-M business has been postponed. This morning’s session saw the shares unchanged at 8.25p.
Positive trial results were responsible for a price increase in the shares of Oxford BioMedica (OXB), according to The Independent on Saturday, aided by speculation that a licensing agreement could be on the way with a US pharmaceuticals company. Oxford also featured in today’s Times under the ‘Smaller Stock to Watch’ headline and the piece named the prospective licensee as Pfizer, whilst the Daily Express on Saturday speculated that “word is there are more deals due in the coming weeks.” Positive momentum continued, as the share price moved up a further 2.00p to 33.25p during this morning’s session and the newspapers speculation was correct, as the agreement was announced today. For further details of this please click on the link under announcements below.
Monday morning prices above were taken just after 10.30 on 6th June 2005.
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.
Croma Group (CMG): Subsidiary Upgrade.
Electric Word (ELE): Fieldwork Online Training.
ILX Group (ILX): Change of Advisor.
London Asia Capital (LDC): Strategic Alliance.
Minco (MIO): Increased Resource.
Oxford Biomedica (OXB): Licensing Agreement.
Patsystems (PTS): Director Shareholding.
Stanelco (SEO): Acquisition.
Look out for this week
Monday 6th June – UK Retail Sales Monitor.
Tuesday 7th June – Delling Group Final Results. US Consumer Credit.
Wednesday 8th June – US Wholesale Inventories.
Thursday 9th June – UK Interest rate decision and Trade Balance.
Friday 10th June – US Trade Deficit. UK G8 Finance Ministers Meeting.
The next Penny Share Review will be posted on Monday, 13th June 2005.
Compiled by Chris Richards
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.