The Proactive Network: FULLER TREACY MONEY StockTube
Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Friday’s movers: Antrim Energy, Top Level Domain Holdings, Tangiers Petroleum, Forbidden Technologies, Sphere Medical

Despite expectations that the UK economy rose more than forecast in the third quarter, local shares were mostly unchanged.

According to analysts, the first estimate of UK GDP data - due out at 09.30am - will show that the economy picked up in the three months to end September, possibly registering growth of up to 1%, which would be its fastest pace in three years.

However, it was difficult to ignore a poor set of earnings or sales updates from continental corporates the likes of Kering, Renault, Volvo and Schneider.

This mixed picture meant investors were hesitant and the FTSE 100 was mostly unchanged at 6,711, while the FTSE All share was also hardly moving at 3,577.

Fortunately among small caps there was much more movement due to the release of a flurry of positive updates.

Antrim Energy (LON:AEY) soared by nearly 30% to 8p after the group confirmed that oil production has resumed from the Causeway and Cormorant East fields in the North Sea.

This follows the complete of a routine phase of maintenance – which had overrun.

Additionally, Antrim also confirmed that production rates from Causeway are now expected to rise over the course of the year, due to the start-up  of electrical submersible pumps and as well as water injection.

Top Level Domain Holdings (LON:TLDH) was a clear winner – up more than 16% at 11.35p - after it revealed being a loser in auctions for new domain names can actually provide some financial rewards.

TLDH, which was in the running for the top level domains (the letters at the end of web addresses ) .website and .lawyer, which went to private auction. 

While the winning bidders will take ownership of the names, the losers share the proceeds.

The AIM-listed company revealed it is set to bank almost £3mln from the process.

“We consider this a real success. We have a number of these to do and we look at it strategically. There are ones we liked more,” chief executive  Antony Van Couvering told Proactive Investors.

Another strong riser, again, early Friday was Tangiers Petroleum (LON:TPET, ASX:TPT). 

Answering a query from the ASX, questioning the reasons for the recent move in the share price, Tangiers said it was not aware of any additional information that might explain the increase other than the growing interest in Morocco’s oil potential and imminent drilling in the area.

The AIM and ASX listed explorer owns 25% of the Tarfaya offshore block and in the past week the share has gained around 50% (in Australia).

Tangiers did point out, however, that the group’s listed options ceased trading on October 24 and this event may have increased the level of trading activity in the shares, which were up nearly 10% at 15.96p.

Another company in the spotlight was Forbidden Technologies (LON:FBT). 

The cloud based editing platform has received another boost - this time from Channel 5.

The broadcaster has agreed to acquire and integrate a FORscene server  into its workflow with immediate effect.

It follows a six-month trial which impressed Channel 5, said Forbidden, which added that it proved especially valuable as a logging and rough-cut tool on the programme "Go Hard or Go Home" where it replaced tape and paper-based logging.

Shares rose 10% to 34p.

Finally, Sphere Medical (LON:SPHR) revealed it has successfully completed an extensive usability study of its Proxima blood monitor.

The positive findings of the work, carried out at the Queen Elizabeth Hospital, Birmingham, will form an important part of the dossier for the CE Marking, which provides regulatory clearance for the device. 

Proxima is expected to go on sale in the second half of next year.

Timeline

View All

Related Articles

© Proactive Investors 2015