Upstream Share Discussion Threads

[master rsi] 05/4/2024 23:50

Cadence Minerals down 33% on discounted fundraise


Cadence Minerals PLC - investment and development company focused on energy transition minerals - Announces successful fundraise of GBP500,000 through the placing of 16.7 million new shares at a price of 3 pence each. The issue price represents a roughly 43% discount to the company's closing price of 5.25 pence on Thursday. Admission of the new shares to the AIM market of the London Stock Exchange is expected to occur by April 11. Cadence also issues one warrant for each new share, giving subscribers rights to acquire one additional share per warrant held. The warrants are exercisable at a price of 5p each and expire in March, 2025.

Cadence says the funds will help progress its investment in the Amapa Iron Ore project, Brazil. Current priorities at Amapa include completion of a pre-feasibility study, preparation of a revised economic model, and sourcing of working capital to fund ongoing licence requirements.

Current stock price: 3.50 pence per share, down 33% in London on Friday

[master rsi] 05/4/2024 22:37

DOW

Finishing 307 points higher

[master rsi] 05/4/2024 16:47

How the UPS are performing during last month

[master rsi] 05/4/2024 16:31

How the UPS are performing today

[master rsi] 05/4/2024 15:51

BREAOUT
GOLD $2,221
Is spiking UP with a new high

Intraday ---- Gold -------------- Silver ---------------- Copper -----


1 month ----- Gold ---------------- Silver --------------- Copper -----

[master rsi] 05/4/2024 15:20

DOW

Opening higher and now 108 points higher

[master rsi] 05/4/2024 13:48

Pinewood Technologies to return £358m to shareholders
(Sharecast News) - Pinewood Technologies announced a significant return of value to shareholders on Friday, following the disposal of its UK motor and leasing business to Lithia, as it announced on 1 February.

The company, formerly known as Pendragon, published a circular outlining a proposal to return around £358m in cash to shareholders through a special dividend of 24.5p per existing share.

It also proposed a consolidation of its ordinary share capital.

Pending the approval of resolutions by shareholders at a planned general meeting, the company said the dividend was expected to be paid on 7 May to shareholders registered by the end of business on 22 April.

Under the proposed capital reorganisation, one new share would be issued for every 20 existing shares, subject to fractional entitlements.

The firm said the restructuring would reduce the number of ordinary shares held by shareholders, while maintaining the proportion of the company's issued share capital held.

Despite having a different nominal value, the new shares would trade on the London Stock Exchange on par with the existing shares, and carry the same rights under the articles of association.

The general meeting convened for shareholders to approve the relevant resolutions was scheduled for 22 April.

At 1250 BST, shares in Pinewood Technologies Group were down 0.29% at 38.79p.

[master rsi] 05/4/2024 12:37

How the UPS are performing during last month

[master rsi] 05/4/2024 12:12

How the UPS are performing today

[master rsi] 05/4/2024 11:46

Saietta shares cancelled from AIM trading as puts itself up for sale

(Alliance News) - Shares in Saietta Group PLC on Friday were cancelled from trading on AIM.

This comes after the Towcester, England-based manufacturer of drivetrain systems for electric vehicles firm ended its strategic review and appointed administrators last month, following failure to confirm a buyer for the business or to secure additional funding.

It had confirmed some expressions of interest were received but no proposal provided the necessary liquidity, and noted that talks with interested parties would continue in administration.

Saietta first announced that it was putting itself up for sale amid doubts over its survival in February.

[master rsi] 05/4/2024 10:24

GGP 6.10p +0.175p

The latest "UPS" is on the move up

[master rsi] 05/4/2024 10:03

SMALL-CAP WINNERS & LOSERS: Topps Tiles falls again; Gulf Marine rises
SMALL-CAP - WINNERS

Gulf Marine Services PLC, up 0.9% at 22.60 pence, 12-month range 4.40p-23.00p.
Shares spike to this one-year high on Friday. On Thursday, the provider of self-propelled and self-elevating support vessels for the offshore oil, gas, and renewable energy sectors reports double-digit earnings growth in 2023.

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Pinewood Technologies Group PLC, up 0.2% at 38.97 pence, 12-month range 34.00p-39.40p.
It confirms a plan to issue a special dividend to shareholders, following the sale of its UK motor and leasing business.

Pinewood will return GBP358 million to shareholders through a special dividend of 24.5 pence per share, as it pledged to last year. In February, it said it completed the disposal of the motor and leasing unit for GBP367 million to Lithia Motors Inc, alongside a GBP30 million subscription, marking the beginning of its transformation from Pendragon to Pinewood Technologies, a software-as-a-service pure-play.

SMALL-CAP - LOSERS

Topps Tiles PLC, down 1.4% at 41.02p, 12-month range 40.80p-57.80p.
The stock falls to a one-year low and is down 9.3% so far this week. In a trading update on Wednesday, the Leicester-based tile retailer said the weaker market, higher pay and seasonally higher energy usage would weigh on first half profit.

Annual profit is expected to be weighted towards the second half. The company said subdued demand in the domestic repair, maintenance and improvement sector, especially for bigger ticket projects, has persisted into 2024, resulting in lower footfall into stores. Shares had fallen for three days in a row heading into Friday.

[master rsi] 05/4/2024 09:02

UK house prices suffer first monthly fall since September - Halifax

(Alliance News) - Annual growth in UK house prices slowed last month, and they went back into decline on a monthly basis, numbers from mortgage lender Halifax showed Friday.

UK house price growth ebbed to 0.3% year-on-year in March, Halifax said, from a 1.6% hike in February.

Prices fell 1.0% in March from February, having risen 0.3% in February from January.

It was the first monthly fall since September, while the annual reading was the tamest since November.

"That a monthly fall should occur following five consecutive months of growth is not entirely unexpected, particularly in view of the reset the market has been going through since interest rates began to rise sharply in 2022. Despite this house prices have shown surprising resilience in the face of significantly higher borrowing costs," Halifax analyst Kim Kinnaird commented.

"Affordability constraints continue to be a challenge for prospective buyers, while existing homeowners on cheaper fixed-term deals are yet to feel the full effect of higher interest rates. This means the housing market is still to fully adjust, with sellers likely to be pricing their properties accordingly."

[master rsi] 05/4/2024 08:53

German factory orders rise 0.2% in February

(Sharecast News) - German factory orders rose by 0.2% month-on-month in February, according to the Federal Statistical Office, missing estimates for a 0.8% jump but recovering from January's revised 11.4% tumble - the steepest fall since April 2020.

Orders grew for manufacturing electrical equipment, pharmaceuticals, and the chemical industry, while new orders contracted for automotive and manufacturing metal products.

Incoming orders expanded 2.2% for consumer goods and 1% for intermediate ones but fell 0.6% for capital goods.

Domestic orders gained 1.5%, while foreign orders dropped 0.7%, with demand from the Eurozone dropping 13.1% and demand outside the Eurozone rising 7.8% month-on-month.

The less volatile three-month average saw incoming orders from December 2023 to February 2024 rise 2.8% than in the previous three months. On an annualised basis, calendar-adjusted factory orders sunk 10.6%, steeper than the 6.2% fall seen in January.

[master rsi] 05/4/2024 08:25

FTSE

Well down at the start with 77 points lower after the DOW poor performance yesterday

[apotheki] 05/4/2024 07:44

Roquefort Therapeutics plc / LSE:ROQ

Response to Share Price Movement

Roquefort Therapeutics (LSE:ROQ, OTCQB:ROQAF), the Main Market listed biotech company focused on developing first in class medicines in the high value and high growth oncology market, notes recent bulletin board speculation about a placing that the Company may be undertaking.

The Company recently engaged its advisers to commence a process of market soundings in relation to a potential fundraise. However, in response to incorrect bulletin board comments regarding a speculative placing price and resulting unusual share price movements, the Board has decided to not proceed with any potential placing at this time.

As previously announced, Roquefort Therapeutics remains focused on completing an out-licensing agreement during the course of 2024 with potential Big Pharma partners and will update the market when a binding agreement is entered into.

[master rsi] 05/4/2024 00:20

US close: Fedspeak sinks shares ahead of jobs report

(Sharecast News) - US stocks fell sharply on Thursday with the Dow falling for the fourth straight day after a late-afternoon slump on the back of hawkish comments from members of the Federal Reserve.

The all-important non-farm payrolls number for March is due out on Friday and was dominating newsflow during the trading session, in light of recent upside surprises to economic data.

Investors are concerned that any pick-up in economic activity could lead to price pressures reigniting and delay a potential interest-rate cut by the Federal Reserve. Market forecasts are still pointing to a June rate cut, but resilient data this week has cast that prediction into doubt.

The Dow and Nasdaq both dropped 1.4% while the S&P 500 fell 1.2%. This 3.04% slump on the Dow over the past four sessions was the worst four-day losing streak since October last year.

Data and Fedspeak

Six members of the Fed took part in scheduled speeches on Thursday, as investors continued to watch comments closely for any hint at future adjustments to monetary policy. Among them was Richmond Fed president Thomas Barkin, who said it would be "smart for the Fed to take [its] time" before cutting rates. "No one wants inflation to reemerge," he said.

Meanwhile, head of the Chicago Fed Austan Goolsbee warned that the biggest "danger" to the inflation outlook was continued price increases in the housing services sector.