Movers of Monday 26 July 2021

Francesca Morgan
Vox Newswire
15:30, 26th July 2021

Cineworld Group (CINE) shares ticked up 5.24% to 66.92p 

Shares in the company have seen light relief and have climbed back up on Monday from recent lows of 56p, following the lifting of UK lockdown restrictions in the UK last Monday. 

Recently, entertainment stocks, particularly cinemas, have felt the pressure as subscriber numbers for online streaming platforms such as Netflix and Amazon have only increased while rising COVID-19 cases have cast further scepticism about the future of the industry.    

CINE price chart

Quantum Blockchain Technologies (QBT) shares soared 40% to 1.225p 

Earlier this month, the quantum computing and artificial intelligence (AI) research company informed investors that it intends to use the Leap quantum cloud service from D-Wave Systems Inc to develop cryptography algorithms for use in cryptocurrency mining. 

“QBT is delighted to work with the D-Wave team, which we believe will provide us with an alternative approach to the computation of cryptographic algorithms,” Quantum Blockchain’s CEO and Executive Chairman Francesco Gardin said in an earlier statement.  

The Economic Times says Bitcoin and other major cryptocurrencies traded above a crucial technical level for the first time since early May, after comments from Ark Investment Management LLC’s Cathie Wood and Tesla chief Elon Musk helped boost its momentum.  

QBT price chart

Online Blockchain (OBC) shares jumped 28.00% to 48p 

Similarly, shares in the UK-based blockchain investment firm also rose today after major cryptocurrencies continued their rally with top crypto tokens continuing to trade higher.  

In a statement released back in March 2021, Online Blockchain’s CEO, Clement Chambers, said he believes the Umbria decentralised finance ("DeFi") development is the group’s most promising project. Looking ahead, he told investors that DeFi itself is “a disruptive segment of blockchain” and there is the potential for the Company and Umbria to make an impact.   

OBC price chart

 Prospex Energy (PXEN) shares rose 19.15% to 2.8p 

The investment firm which is focused on European gas and power projects announced a series of Board changes today, including the appointment of Mark Routh as CEO of Prospex. 

Commenting on the appointment Bill Smith, Chairman of Prospex, said Routh will bring a wealth of operational and technical expertise to the Board. “Moreover, he is well versed in all aspects of directorship of listed energy companies, being currently a non-executive director of Warrego Energy Limited in Australia (ASX:WGO) and having been both CEO and Chairman of Independent Oil & Gas plc and the MD and founder of CH4 Energy,” he added. 

PXEN price chart

Templeton Emerging Markets Investment Trust (TEM) shares fell 80.39% to 191.10p 

According to a draft policy circulated on Friday, the State Council, China’s highest governing body, could implement laws banning tutoring companies from going public or raising capital. As a result of the proposed measures, China's equity markets fell sharply today. 

According to reports from City Wire, Templeton, which holds around 30% of its assets in China, was the biggest faller following the news, although the 80% plunge shown by many market data providers was exaggerated by a five-for-one share split that took effect today, it said. 

TEM price chart

Disclaimer & Declaration of Interest

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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