Shares in MySQUAR Limited (LON:MYSQ) soared more than 20% higher early on Thursday afternoon, after the Myanmar-language social media and entertainment group successfully launched two new products.
The company unveiled a new ‘freemium’ game today called ChakraNinja, which is based on the popular comic character Naruto.
It also soft-launched CallHome, an internet-based telephone app that allows users to make calls to other users as well as to landlines and mobiles.
Chief executive Eric Schaer said the app – which is similar to Skype – has the “potential to be a major revenue earner” for the business.
MySQUAR also announced that it has several more releases due in the coming weeks, including new ‘hardcore’ games as well as a new, improved gaming platform.
10.15am...Miners shine as commodity prices rise
Miners continued their post-Christmas surge into Thursday, buoyed by rising commodity prices and increasingly positive investor sentiment.
Premier African Minerals Ltd (LON:PREM), Anglo Asian Mining Plc (LON:AAZ) and Xtract Resources PLC (LON:XTR) were all sharply in the black in early deals.
They – along with many other miners – were helped out by the continuing rise of nickel, copper and gold prices.
It’s been a great year for miners as a whole, with the sector recovering from the lows hit over the past couple of years.
Sentiment is also turning in their favour, too, with Goldman Sachs the latest big name to go bullish on the sector for 2017.
Elsewhere, minnow small cap Alpha Pyrenees Trust Limited (LON:ALPH) soared almost a third higher after it agreed a deal to sell off one of its properties.
The troubled group sold a vacant warehouse in Zaragoza, Spain to a Spanish engineering company for €370,000.
The proceeds will be used to pay off some of its debts, which stood at £77.5mln as of the beginning of November.
Shares were up sharply, despite the fact that all of the cash generated from the sale of Alpha’s assets will go to its lender and not to shareholders.