EuroMoney Institutional Investor (ERM) shares ticked up 8.90% to 1,036p
Shares in EuroMoney rose on Thursday after the company saw subscriptions grow over the six month period ended 31 March 2021 with 73% of revenue generated from subscriptions. The stock was also up after the company posted a half-year dividend of 5.7p per share.
While good underlying subscription growth resulted in a 6% increase over the period, EuroMoney saw revenue fall by 17% or £30.8m from £186.3m last year. In particular, events revenue declined by £38.4m or 60% reflecting the reduction in physical events compared to the prior period which had not yet experienced severe COVID-19-related disruption.
“The backdrop for events has been challenging but the team has delivered great virtual experiences for our customers. We are well-positioned as physical events start to return in the second half of the year and beyond,” CEO of EuroMoney, Andrew Rashbass noted.
Itaconix (ITX) shares soar 20.63% to 13.45p as it receives LSE’s Green Economy Mark
The Group, which operates as a provider of sustainable specialty polymers, has received the LSE’s Green Economy Mark in recognition for its contributions to the global green economy.
To qualify for the Green Economy Mark, companies and funds must generate 50% or more of their total annual revenues from products and services that contribute to the global green economy. Itaconix generated 96% of its 2020 revenues from the sale of plant-based products.
"We are just starting to tap into the potential that our proprietary plant-based technologies have to transition brands and consumers to a low carbon economy, with almost all of our 2020 revenues derived from plant-based products,” said John R. Shaw, CEO of Itaconix.
Wishbone Gold (WSBN) jumps by 13.1% to 14.25p as its receives program approval
The group said its program of works for the Red Setter project has been approved by the Western Australian Government's Department of Mines, Industry Regulation and Safety.
Wishbone said this includes the drilling program previously outlined for up to 100 drill holes to depths of 300m that are designed to test for potential gold and copper mineralisation on multiple magnetic targets identified on the Red Setter Project over a 3km2 area.
The group said analysis will commence forthwith in order to refine the locations of first drill targets and that it anticipates being able to announce the commencement of drilling shortly.
Richard Poulden, Wishbone Gold's Chairman, commented, "It is incredibly exciting to be finally moving onto the ground at Red Setter. We will keep the market updated as we go.”
In addition, the company announced that it had raised £1.4m gross at a price of 14p to provide additional working capital as it embarks on its Red Setter exploration program.
Poulden added, “This premium priced placing, also announced today, will ensure that the Company is well funded to achieve its exploration objectives in Australia through 2021."
Pantheon Resources (PANR) shares rose 9.89% to 29.82p following resource upgrade
The independent oil and gas company announced a resource upgrade earlier this week for its Basin Floor Fan Complex, which spans both the Theta West project and Talitha Unit.
Pantheon estimates the Basin Floor Fan (Theta West), where it has a 100% working interest, to contain 12.1 billion barrels of oil in place and a P50 Recoverable Resource of 1.41 BBL while the Theta West Basin Floor Fan was penetrated in the Pipeline State #1 well, substantially downdip from Talitha A, where it was also confirmed to be oil bearing.
As a result of these two discoveries in the Basin Floor Fan, the firm believes the above estimate can be categorized as a Contingent Resource. It added that analysis continues on elsewhere at Talitha #A and that it will soon announce key conclusions from those horizons.
Trainline (TRN) shares fell 22.93% to 330.1p as UK government reveals railway overhaul
Shares in the stock lost almost one-third of its value this afternoon after the UK Government outlined new plans to commit to digital ticketing through a new public body, Great British Railways, which some analysts say will be competing directly with the Trainline’s offering.
Trainline released a statement this afternoon in which it shared its support of the plan’s findings and recommendations, which it said were broadly in line with its expectations.
The company told investors that it expects that the plan's proposals, which it says will need to be ‘developed and subsequently implemented over the next several years,’ should improve the experience for rail passengers and drive efficiency for the wider industry.