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The Markets
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Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Archive

Market movers - i(x) soars on BP deal and Petro Matad secures oil permit

i(x) Net Zero PLC spiked 90% - Petro Matad shares shot up 50% - Currys dropped 8%

Virgin Wines is to supply fine wines to all WH Smith Travel stores in UK airports and railway stations.

A range of wines has been exclusively curated for WH Smith, AIM-listed Virgin Wines said and is already proving a hit with customers.

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Sabien Technology Group PLC (AIM:SNT) shares rose 6% on Thursday morning as the company highlighted its progress in implementing a Green Aggregation Strategy.

In a trading update, the company said it is focused on expanding its M2G business, a CO2 mitigation device for boilers, and advancing the development of b.grn, a Special Purpose Vehicle targeting the commercialization of plastic-to-oil technology.

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Pod Point Group Holdings PLC (LSE:PODP) saw its shares fall 10.8% after it announced that it is looking for new leadership to navigate a “challenging” market and seek growth opportunities in the electric vehicle (EV) market.

The provider of EV charging points said chief executive officer Eric Fairbairn is leaving with immediate effect, with Andy Palmer, currently a senior independent director, to become interim CEO while the company looks for a permanent replacement.

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i(x) Net Zero PLC (AIM:IX) shares spiked up as much as 90% higher in Thursday’s early deals as its investee WasteFuel Global, which is developing bio-methanol from agricultural waste, landed a US$10mln investment from BP PLC (LSE:BP.).

BP backed the early-stage company via a Series B funding round and the injection of funds triggers a “material uplift” in valuation for AIM-quoted i(x) which now sees its stake worth US$131.69mln, up from its last valuation of US$46.91mln at the end of December.

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Shares in Byotrol PLC (AIM:BYOT) jumped 10% to 2.08p after its application for medical applications based on the anti-viral properties of extracts from commonly available brown seaweed won UK patent approval.

This patent gives the specialist infection prevention and control company "validated, valuable and protected intellectual property, to support the development of commercial relationships", it said.

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Shares in electronics retailer Currys PLC (LSE:CURY) dropped 15% in early trading following the cancellation of the company's dividend in the face of tough trading.

The pre-tax profit fell 38% to £119mln, primarily hindered by the weaker performance in its Nordics business, although the UK and Ireland branches remained stable.

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Petro Matad Limited (AIM:MATD, OTC:PRTDF) shares shot up nearly 60% in Thursday’s early deals as the explorer landed a new permit from the authorities in Mongolia.

The company, which for over a decade has sought to unearth oil resources from the Mongolian expanse, told investors that the Cabinet of the Mongolian Government has approved the certification of the Block XX Exploitation Area, including the firm’s Heron oil discovery.

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Workspace Group PLC (LSE:WKP) increased rent roll 3.2% on a like-for-like basis in the past quarter, the London flexible work space provider's strongest quarterly growth since early 2022.

It was driven by a 3.3% increase in the average rate, with the occupancy rate stable at 89.2%.

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Graft Polymer (UK) PLC (LSE:GPL) shares rose over 5% to 2.95p after it unveiled a contract with Austria’s Gabriel Chemie to work on research, production and marketing using its polymer modification expertise.

The one-year R&D and supply agreement will focus on dispersants for coloured and black masterbatches.

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TClarke PLC, the construction engineer, has conditionally raised gross proceeds of £10.7mln to strengthen its balance sheet in order to help it win contracts.

The placing, at a price of 122p that represents a 14% discount to the last close, depends on shareholder approval at a meeting scheduled for 24 July.

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