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MOVERS OF MONDAY 1 MARCH 2021

16:29, 1st March 2021
Francesca Morgan
Market Report
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Carnival (CCL) shares ticked up 6.95% to 1,685.75p as cruise sector hopes for recovery 

Shares in the cruise operator have risen by nearly 40% in value in the past month. Despite a recent string of extensions in regard to the Company’s operations pause, the sector is gearing up for a comeback with many in the industry offering new itineraries for 2022 and 2023 and with some even reporting demand as more vaccines are rolled out globally. 

Last week, three other Carnival Corporation brands – Holland America Line, Seabourn and Princess Cruises – revealed that it had cancelled most 2021 departures from Canadian ports. 

However, if ongoing travel restrictions are lifted - should the vaccine programme prove successful - the industry could once again flourish. Speaking of brewing demand, Sture Myrmell, President of P&O Cruises Australia stated, “The cruise line has seen particularly strong demand from families for cruises during the school holidays in early 2022.” 

CCL price chart

MyHealthChecked (MHC) shares jumped 26.15% to 4.1p while it addresses investors 

The personalised healthcare firm released a statement this morning noting the increase in its share price as the stock rose by over 25% in value. The Group said it has become aware of speculation over the weekend that a significant potential contract is in the pipeline. 

The Company highlighted that while it is engaged in commercial discussions with a number of parties for the supply of COVID-19 testing kits, no contracts have been signed to date, nor is there any certainty that any of these discussions will result in commercial agreement. 

MHC unveiled in December 2020 that its COVID-19 testing service had been added to the UK Government's approved COVID-19 private testing providers list for General Testing, as well as the Test to Release for International Travel scheme introduced on 15 December 2020. 

MHC is looking to launch its current products into the retail sector, develop a pipeline of new products and more than double its team by December 2022 as the Group broadens its overall testing capabilities within the home testing market through a multi-sector strategy.  

According to Data Bridge Market Research, the compound annual growth rate for the at-home testing kit market is projected to grow 6.8%, from $8.87bn in 2019 to $16bn by 2027.  

MHC price chart

Tlou Energy (TLOU) shares rose 23.39% to 3.82p as it remains in advanced discussions 

The Group, which is focused on delivering cleaner electricity in Botswana and southern Africa using gas and solar power, said it is currently in advanced discussions with a number of parties to secure funding for its first proposed development, the Lesedi Power Project. 

Tlou is seeking project finance to build a transmission line from the Lesedi power project to the existing electricity grid as well as electrical substations, gas and solar generation assets. 

It said the advanced project finance discussions are currently with ‘a very reputable Botswana based entity’ which it remains unable to name at this time due to confidentiality. 

The Company confirmed to investors today that both the unnamed entity’s investment committee and board have discussed and are favourably disposed to Tlou's proposal.  

It said they are proceeding to get a third-party technical review of the project as part of their due diligence process and that once this is assessed an investment decision can be made. 

TLOU price chart

Genedrive (GDR) shares were up 21.36% to 133.5p as it prepares to ramp up US sales 

Shares in the near patient molecular diagnostics company increased in value during Monday trading. The Group told investors that it will provide a live presentation to accompany its  interim results, presented by CEO, David Budd and CFO, Matthew Fowler on 26 March 2021. 

In recent weeks, the Group revealed that it had shipped its first 96 SARS-CoV-2 Kits to the USA with manufacturing company Beckman Coulter, commencing the initial sales activities.  

The Company entered the distribution agreement with Beckman Coulter back in January 2021. The agreement enables Beckman to sell and distribute Genedrive's 96 SARS-CoV-2 kits across the United States and Europe for its use on upper respiratory viral samples.   

This shipment, which coincides with the formal launch of the Genedrive® 96 SARS-CoV-2 Kit by Beckman Coulter today, will not only allow the US-based manufacturing firm to commence initial sales activities but to prepare the market for a wider commercial rollout.  

“This is an important milestone for Genedrive as the first shipments of our Genedrive 96 SAR-CoV-2 kit are exported to the US,” commented David Budd, CEO of Genedrive.  

He added, “We are very optimistic about the US market for Covid PCR testing and it has market drivers that are favourable to the adoption of the genedrive assay: efficiency, ease of use, automation friendly, and scalability.”  

GDR price chart

Jupiter Fund Management (JUP) shares dipped 3.45% to 285.2p despite record assets 

Shares in the fund manager dipped down despite posting record assets in its results for the year ended 31 December 2020 which offset an increased level of outflows over the year.  

Last week, Jupiter confirmed that its assets under management (AUM) had finished the annual period at £58.7 billion which came in slightly ahead of the £57.8bn consensus. 

”This is a year where we made significant progress against our strategic objectives and laid strong foundations for future growth, despite the disruptive impact on financial markets and businesses brought by Covid-19,” commented Chief executive Andrew Formica at the time. 

JUP price chart

 

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The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

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