MOVERS OF WEDNESDAY 24 FEBRUARY 2021
shares ticked up 8.85% to 24.73p as retail destinations expected to surge in value
Shares in the European property firm, which invests in and develops shopping centres, retail parks and prime offices through operations in the UK, France and Germany have gained more than 7% in value since Boris Johnson unveiled his plan to reopen the UK economy.
The stock has plummeted in value since the onset of the pandemic as all mall and store owners have been hit hard with retailers forced to close and failing to pay rent. The impact of the pandemic pushed Hammerson’s competitor Intu Properties into administration back in 2020 June after the Group failed to agree on loan waivers with lenders.
According to retail analysts, footfall across all the UK’s retail destinations is now expected to surge in value with the reopening of non-essential stores and outdoor hospitality in April.
shares soared 30.16% to 0.082p as the price of commodities surge
Shares in the multi-commodity mining and natural resource firm have risen by 40% in value in the last week alone as commodities have risen to their highest in almost eight years.
“Folks who have really ignored commodities for quite a long time are now starting to get positioned,” said Bart Melek, Head of Commodity strategy at TD Securities. “The implication is that this could go on for a bit. It’s very much a function of expectations of scarcity.”
On Monday, Premier hired New York-based EAS Advisors to enable access to institutions and funding as it develops mining and exploration projects in Sub-Saharan Africa.
In particular, the Company told investors of its intentions to secure funding for a Definitive Feasibility Study ("DFS") at the Company's Zulu Lithium project in Zimbabwe ("ZULU").
Lithium is a key ingredient needed for lithium-ion batteries, particularly for its use in electric vehicles, an area expected to attract greater investors interest over the next decade.
Looking ahead, Benchmark Minerals Intelligence has forecasted that almost 200 battery “megafactories” will be built in the next 10 years, more than doubling the existing number.
Founder of EAS Advisors, Edward Sugar commented that, "With ever increasing EV demand the need for development of lithium projects becomes more essential. We're looking forward to working with Premier African Minerals regarding its ongoing finance, particularly regarding the Company's Zulu lithium project, as well as lifting its profile in North America."
shares rose 20.55% to 4.4p after test results exceed expectations
Shares in the oil and gas firm rose after it outlined to investors that preliminary test results from its ASH-3 development well at the Abu Sennan project had beaten expectations.
The well indicated a maximum flow rate of 7,720 barrels oil equivalent per day. The Company said that it expects the well will be brought onstream in the coming days.
"The ASH Field continues to out-perform our estimates and following on from the success of the 2020 drilling programme, this is another excellent drilling result that demonstrates its significant growth potential,” commented United’s Chief Executive Officer, Brian Larkin.
When brought on production, ASH-3 is expected to ‘significantly boost’ the concession-wide production rates that averaged 10,500 boepd gross (2,310 boepd net) during January 2021.
shares rose 17.79% to 1.225p as investors continue to eye up renewable energy
Despite shedding light value over the past two weeks, shares in the international biomass based renewable energy and forestry management firm still remain more than double their worth in December as investors continue ramping up their interest in renewable energy.
Today, the Association for Renewable Energy and Clean Technology, the largest renewable energy and clean technology trade association in the UK, unveiled a ‘green recovery pathway’, which will accelerate the drive to net-zero and provide thousands of new jobs.
One of the key targets within this strategy includes more than 50% of electricity generation being provided by renewables by the end of 2022, with this figure reaching 100% by 2032.
Active Energy recently secured a further $10 million in funding which will allow the firm to accelerate the development of its CoalSwitch™ production facility in North Carolina. The Company received its first order for its biomass fuel product, CoalSwitch™ from PacifiCorp, the largest grid operator in the western United States, back in December 2020.
shares fell 5.53% to 348.6p after receiving light relief this week
Shares in the UK firm which operates food and beverage brands across airport and railway stations were down this afternoon despite seeing light relief during Tuesday trading as investors placed their bets on which stocks they think will benefit from the reopening of trade.
SSP raised £216m in March last year while it has also borrowed £300m from the Government's coronavirus lending scheme. SSP said in its preliminary results, released on 17 December 2020, that its current monthly cash burn rate was around £25 - 30m and that it expects to remain in this range during the second quarter ending 31 March 2021.
‘Whilst SSP is confident in the medium-term recovery of the travel market, there remains significant uncertainty with regard to COVID-19 and associated travel restrictions.
In that context, SSP continues to evaluate the merits of a range of funding options, both debt and equity, that would further strengthen its balance sheet,’ the company noted.
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