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Penny Share Review 298
08 August 2005
Press
The Daily Express on Saturday included Cybit Holdings (CYH) under the headline ‘ Week of Dealing’ and suggested that the shares are near the bottom of their long-term trading range. The piece also noted the Chief Executive’s recent purchase of shares, however, regardless of this media attention the shares slipped 1.00p to 53.00p during Monday morning’s trading.
The Business this weekend highlighted CYC Holdings (CYC) as it drew comparisons with Evolution China in a review of London’s taste for Chinese flotations. The article’s headline suggested that investors may be unsure, but the Company’s share price neither benefited nor suffered from this mention as they remained at 1.48p during this morning’s session.
Saturday’s Daily Mail speculated that interim figures, due next month, from Deal Group Media (DGM) could be encouraging due to the public’s increasing comfort with buying online and the more widespread existence of broadband internet connections. The piece went on to comment that dealers believe good figures could fuel the stock to reach 25p and an increase of 1.00p to 21.25p was seen this morning.
News that Desire Petroleum (DES) had acquired oil exploration rights over an area north of the Falkland Islands was held responsible for an upsurge in interest by The Guardian on Saturday. This momentum continued, as the shares increased a further 0.50p to 40.75p this morning. The Sunday Times featured an article providing commentary on the entrepreneurs of the online gaming sector, including Charles Black, who has amassed £1m through his stake in Gaming Corporation (GMC.L). The shares remained unchanged this morning at 14.75p.
A large article, which discussed the new rules for Ofex and whether they would go someway to redress the current ‘risky’ image of the market, formed part of the weekend’s FT. The critique concluded that it is probably too soon to say either way, but pointed out that newcomers are currently balancing the departures. This news has had no effect on the shares of Plus Markets (PMK) however, as they were unchanged at 5.38p this morning.
Zi Medical (ZIM.L) appeared in Saturday’s Daily Mail, which noted the Company’s appearance in Growth Company Investor and the piece surmised that investors might be made to “sit up and take notice over the next year.” This could be the case, as Monday morning’s trading saw the shares 2.00p stronger at 10.50p.
Monday morning prices were taken just after 10.30am on 8 August 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.
Earthport (EPO): New Technical Advisor.
Egdon Resources (EDR): Operational Update.
Minco (MIO): Drilling Report.
Real Estate Investors (RLE): Issue of Equity.
SectorGuard (SGD): Issue of Equity.
Teleunit (TLU): Acquisition.
Look out for this week
Monday 8 August – UK Land Registry House Price Data (Q2) and British Retail Consortium Retail Sales Monitor (July).
Tuesday 9 August – UK Trade in Goods and Services (June). US FOMC Decision (June) and Wholesale Inventories (June).
Wednesday 10 August – UK Bank of England Inflation Report (August). US Treasury Budget Report (July).
Thursday 11 August – UK Government Housebuilding Data (Q2). US Retail Sales (July).
Friday 12 August – US Trade Balance (June) and Consumer Sentiment (August).
The next Penny Share Review will be posted on Monday 15 August 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.
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