MOVERS OF THURSDAY 4 FEBRUARY 2021
(CAPC) shares ticked up 5.67% to 145.25p despite recent estate fall
The FTSE 250 firm that is one of the largest listed property investment companies in central London informed investors on Tuesday morning that the independent property valuation of the Company’s Covent Garden estate had reduced by 27% in 2020 on a like-for-like basis.
The valuation for the estate was £1.8bn, representing a decline of 13% in the second half (30 June 2020: £2.2bn) and down by 27% for the full year (31 December 2019: £2.6 billion).
CAPC explained that the majority of the valuation movement relates to the retail, leisure and F&B (food and beverage) portfolio which represents 75% of total property value.
"Whilst there are significant near-term challenges to trading and an uncertain economic outlook due to the impact of the pandemic, we are encouraged by the enduring appeal of Covent Garden for customers as evidenced by recovery in footfall and trade following easing measures in the second half of 2020,” said Ian Hawksworth, Chief Executive of the Group.
He added that, “Capco is in a strong financial position and we remain confident in the long-term prospects for Covent Garden and the West End."
(EAH) shares jump 31.31% to 325p as half-year profits rise
Shares in the developer of pharmaceutical products for global animal health markets jumped after the group saw an increase in half-year profits from £1.3m in 2019 to £3.9m.
Earlier this month, the Group received a marketing authorisation from Brazil’s Ministry of Agriculture, Livestock and Food Supply for Circo/MycoGard®, a vaccine for swine.
The Company said it has seen ‘exceptionally’ strong recovery in China following the African Swine Fever impact in 2019 after a stronger than expected restocking of the pig herd. “This in turn has resulted in the greater use of premium medications such as Aivlosin®”, it noted.
Meanwhile, revenue in North America, USA in particular, has been strong with a return to pre-2019 levels of business and margins. This has been a result of a normalisation in pork prices in that market as well as export markets (China) becoming available, it told investors.
India had a steady six months; the poultry market has been badly affected during the Covid-19 pandemic but commentators are expecting a recovery during 2022. Brazil continues to record strong revenue resulting from a buoyant domestic and export swine market.
(MVR) shares rose 21.67% to 3.65p as Napster users surge
Shares in the stock have been rising since Tuesday when the Group revealed that Napster, the music streaming service it acquired back in August, was revealed to have more than doubled user numbers in 2020 to 5.7 million from 2.5 million recorded in December 2019.
The platform recorded 10.5bn total plays (FY19:10.8bn) and 306.5m listening hours (FY19:328.2m) for the year ended 31 December 2020. It has also expanded its track catalogue which the Group said strengthens the content available to its user base.
"The continued adoption of music streaming is creating meaningful B2B growth opportunities for Napster's platform-as-a-service business,” said CEO, Anthony Matchett.
(MXCT) shares were up 21.64% at 815p following £40 million raise
The cell-engineering company announced that it has raised £40 million at a price of 700p a share at a premium of approx. 4.5 % to the Company's mid-market closing price on Tuesday.
The Company said the proceeds will be used to strengthen its balance sheet to enable the Company to support the ‘burgeoning field of next-generation cell therapeutic development.’
“The financing will strengthen the Company's balance sheet as we continue to focus on accelerating revenue growth in 2021 and beyond and marks a further important step towards our goal to dual-list on Nasdaq in 2021,” said Doug Doerfler, President & CEO of MaxCyte.
(HOC) shares fell 3.75% to 215.4p as price of silver retreats
Shares in the precious metals firm which specialises in the exploration of silver and gold fell after Monday’s jump as a result of the price of silver increasing by 10% to $29.49 an ounce.
According to Reuters, several Chinese investors rushed into silver investments on Monday, “pushing up Shanghai silver prices while boosting performances of related stocks and funds, matching calls by global retail investors to boost prices of the precious metal,” it noted.
However, prices were down 6% on Tuesday after hitting their highest price since February 2013 on Monday. The precious metal was briefly trading over the $30 (£22) per ounce mark.
“The number one reason you are seeing silver drop is because the CME Group raised margin requirements overnight...the number two reason for silver's drop is a complete unwinding of the ‘Reddit Rebellion’ trade,” explained Thomas Hayes, Chairman at Great Hill Capital.
He added, “With short interest on GameStop (GME) falling to 53% from 140% now, everyone realizes the short squeeze play is over. They are all rushing to the same narrow exit at once and selling anything they can to get off margin.
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