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Penny Share Review 294

11 July 2005

Press

The Daily Mail on Saturday suggested that the manufacturers of bomb proof blinds, Eruma (ERU), held steadily ahead of their placing price and have had a busy time since the events of last Thursday. Monday morning saw the shares continue to hold fast at 7.75p.

Under the headline “Take Profits at Oxford Biomedica” the Sunday Telegraph remarked that Oxford BioMedica (OXB) operates in an area of science that remains unproven and although it might turn out to be a gold mine, the good run of performance lately gives an opportunity to take profits. Investors acting on this advice could be the reason for a downturn of 0.75p to 34.75p this morning.

This weekend’s The Business provided commentary on Pipex Communications (PXC.L) and its plan to install its equipment in around 60 BT exchanges. This process is known as ‘unbundling’ and the article went on to say that the news had been well received by the City. A telecoms analyst at Investec, quoted in the report, suggested that it was a significant opportunity for the development of the Company’s broadband strategy and the hope is that this development will allow Pipex to increase its margins. However, despite the weekend’s media attention, the shares remained unchanged at 8.75p during Monday Morning’s session.

News of a £9m placing was held responsible for an increase in the share price of Virotec International (VTI) by the Daily Mail on Saturday. The piece noted that broker Evolution gave the company a ‘buy’ recommendation, as new cash should allow expansion in sales and marketing activities in the US and Europe. Further forward movement was seen this morning, as the share price increased by 1.00p to 33.75p.

The Daily Telegraph on Saturday reported that talk of a reverse takeover involving Wigmore Group (WGT.L) caused forward movement in its share price. This momentum continued into Monday morning’s trading, as the shares added 0.02p to 0.23p. Monday morning prices were taken just after 10.00 am on 11 July 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.

Artisan (UK) (ART) – Final Results.

Mano River Resources (MANA) – Drilling Report.

MOS International (MOI.L) – Contract Win.

Pacific Media (PCM) – Revenue Sharing Partnership with China Media Networks.

Vianet Group (VIA) – Purchase Order.

Look out for this week

Monday 11 July – Artisan Final Results. British Retail Consortium Retail Sales Monitor, UK Producer Price Index and Trade Data.

Tuesday 12 July – UK Consumer Price Index. European Central Bank Main Refi Result.

Wednesday 13 July – UK Unemployment and Labour Market Report. US Treasury Budget and Export Import Prices.

Thursday 14 July – UK BCC Quarterly Economic Survey. US Retail Sales and Jobless Claim.

Friday 15 July – US NY Empire State Index, Michigan Sentiment and Consumer Sentiment.

The next Penny Share Review will be posted on Monday 18 July 2005.

Compiled by Chris Richards

Penny Shares Online - penny shares research and information service.