Movers of Monday 12 April 2021
Shares in the home furnishings retailer ticked up today as stores reopened across the UK.
The British retailer company released a trading update for the 13-week period ended 27 March 2021 last Thursday in which it told investors that total sales over the period – which amounted to £236.6m – had demonstrated ‘the resilience of the Dunelm model.’
The Group highlighted to investors at the time of its statement that, ‘Assuming stores re-open as expected and there are no further disruptions this financial year, we expect that gross margin in the fourth quarter will be ahead of the same period last year given that the prior year period was disrupted by the store closures in the first national lockdown.
Dunelm said it anticipates ‘a strong consumer’ response to the lifting of the restrictions across the UK. The Group added that its stores are “well stocked and ready for re-opening.”
shares rose 25.71% to 1.1p alongside its company update
The Group gold and zinc exploration and resource development firm confirmed that it has taken all steps required by it in connection with the proposed migration of the electronic holding and settlement of its shares from the CREST system to the Euroclear Bank system.
This morning’s statement said migration is expected to take effect on Monday, 15 March 2021, with the migration to Euroclear Bank of the holding and settlement of the securities of all Irish companies with securities that are listed and traded in Dublin and/or London.
shares jumped 20.63% to 110.5p as well test confirms liquids rich natural gas
Touchstone said it has completed flowback testing of the Cascadura Deep-1 well which has confirmed a liquids rich natural gas discovery. The Group has an 80% operating working interest in the well which is located on the Ortoire block onshore Trinidad and Tobago.
"The positive test results from Cascadura Deep-1 further expands the opportunity on the Ortoire block as we now expect to have two distinct and separate sheets producing from two wells in the Cascadura structure,” said Paul Baay, President and CEO of Touchstone.
"The exceptional performance noted during Cascadura Deep-1 well testing reinforces the geological concept of multiple stacked, independent hydrocarbon charged horizons in the Herrera turbidite fairway,” said James Shipka, Chief Operating Officer told investors.
The well is currently shut-in for an extended pressure build-up survey for a minimum of four weeks to identify possible formation boundaries. Touchstone said it will not conduct further testing of the well and that it intends producing the well concurrently with Cascadura-1ST1.
shares rose 17.74% to 3.7p as it issues a warrant over 2m shares
The Group unveiled that, further to its previous announcement made on 16 October 2020, it has issued a warrant over 2,000,000 new ordinary shares in the Company which it said is exercisable at a price of 2.5 pence per ordinary share and will vest with immediate effect.
shares fell 5.39% to 310.5p but it remains well above its pre-pandemic value
Shares in the European electrical retailer has shed nearly 5% in value since last week. Despite the recent dip, the stock still remains over five times its value from April 2020 and the Company maintains its position as a stock that has benefitted amid the pandemic.
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