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Penny Share Review 312

14 November 2005

Press

The Guardian on Saturday highlighted that shares in Corpora (CP..L) were ’static’, despite news of a contract win to support US homeland security (See below). However, positive interpretation today could have sparked forward movement of 0.75p this morning with the shares moving up to 10.50p.

A review of the products and services on offer from Chromogenex (CGX) comprised part of this Weekend’s The Business in a ‘highly speculative buy’ tip. The narrative went on to inform that Executive Chairman Peter McGuiness has a history in laser treatment and that this may indicate an ‘ideal’ pedigree for the promotion of the Company. Following this attention, the shares rose 2.25p to 10.00p this morning.

The Mail on Sunday contained a review of its portfolio selections from January, which included Entertainment Rights (ERT). Describing the Company as the ‘star performer’, the article suggested that with earnings for the year expected to be 1.8p, it was happy to take profits. This move could well be responsible for a reduction in the share price this morning of 1.25p as the shares fell to 30.50p. Bede (BED) was also featured in the article, but at the other end of the scale. Having tumbled in price since January, the piece suggested getting out and a further decline of 1.00p was witnessed this morning as the shares fell to 10.75p. Ennstone (ENN) appeared as the ‘wild card’ selection and mention was made that the Company had been trading consistently, making acquisitions and still offered value, concluding with a hold rating. Perhaps good advice, since an increase to the share price of 0.25p to 39.00p occurred during this morning’s trading.

Saturday’s Daily Express noted improved share price performance for Invox (INX.L) and attributed this to talk of a takeover offer approach at 125p a share. The piece also suggested that John Gunn was behind the move and momentum carried over into this morning’s session, where the shares gained 3.00p, reaching 95.50p.

Mercury Group (MGP) featured in The Daily Telegraph today commenting that Mike Foster, Support Service Analyst at KBC Peel Hunt, recommends the shares due to low debt and the appearance of Vincent Tchenguiz on the share register. However, the article went on to state that Foster predicts companies offering services to the manufacturing sector will be competing for a share of a smaller market as manufacturers utilise cheaper offshore options. Nonetheless, this recommendation failed to improve the share price, which fell 0.13p to 6.25p this morning.

Today’s Daily Telegraph spoke of rumours surrounding a potentially major land deal that could be in the offing for Oakdene (OKD). The piece went on to speculate on talk of a 185 acre site in Lancing, West Lancashire, that could include 20 acres for residential property and 10 for commercial development. This morning’s session saw an increase in the Company’s share price of 1.00p, taking them to 148.00p and these rumours could be the cause of such performance.

Plus Markets Group (PMK) appeared in The Independent on Saturday under the headline ‘Minor stock market Ofex could be a major winner’. The upbeat review remarked that the business looked robust and suggested its ambitious expansion was well timed with the number of newcomers to the market outnumbering departures. This positive sentiment appeared to spill over into Monday morning’s trading when the share climbed 0.25p to 16.13p. Monday morning prices were taken just before 10.30am on 14 November 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.

Advanced Medical Solutions (AMS): Change of Advisor.

Corpora (CP..L): Corpora Software wins subcontract to assist with homeland security.

Formjet (FMJ): New Appointment.

Netcall (NET): Launches Call Centre Product.

Ormonde Mining (ORM): La Zarza Testwork Update.

Proventec (PROV): Interim Results.

Starvest (SVE): Update.

Look out for this week

Monday 14 November – Proventec (PROV) Interim Results, October Producer Price Index.

Tuesday 15 November – RICS House Price Survey, October Consumer Price Index.

Wednesday 16 November – UK Labour Market Report, Bank of England November Inflation Report.

Thursday 17 November – October Retail Sales.

Friday 18 November – BBA Mortgage Lending, October Public Sector Net Cash Requirement.

The next Penny Share Review will be posted on Monday 21 November 2005.

Compiled by Chris Richards.

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.