Inspirit Energy (INSP) shares soared 46.74% to 0.0675p as leaders back green energy
Shares in the UK-based company, which is focused on developing low carbon technology solutions and innovating existing renewable power generation technologies, jumped while global leaders at COB26 reiterate their commitment to put more investment into green energy.
In fact, it was announced this morning that a new Global Energy Alliance for People and Planet (GEAPP) will be launched today at COP26 to accelerate investment in green energy transitions and renewable power solutions in developing and emerging economies worldwide.
Blue Star Capital (BLU) shares jumped 41.67% to 0.17p as its subsidiary raises $5 million
This morning, Blue said its investee firm SatoshiPay’s smart contract network Pendulum, had raised $5m in an oversubscribed private sale round of the network’s upcoming PEN token.
London-listed Blue Star Capital, which makes investments within the esports, payments, technology sectors, said the funds will be used to continue the development of Pendulum. Blue Star holds an interest in Pendulum through its existing 31% equity interest in SatoshiPay.
Today, in an oversubscribed placing, Pendulum raised $5 million for its further development by the private sale of PEN tokens. The directors of the Company have been advised that the funding allows for SatoshiPay to be contractually retained to continue to develop Pendulum.
SatoshiPay said it expects that the revenue it derives from Pendulum development should be sufficient to fund itself and significantly reduce any need for the group to raise equity finance.
Warpaint London (W7L) rose 14.10% to 174p as it expects profits to surpass expectations
This morning, the colour cosmetics business released a trading update in which it stated that it expects its results for the year to 31 December 2021 to be ahead of market expectations.
Warpaint said its forecast follows a continuation of the improving trends seen in the first half of the year and that sales for the year are now expected to be similar to those achieved in 2019, the most recent financial year that experienced no impact from the Covid-19 pandemic.
Gross margins are currently being maintained ahead of those achieved in 2020 and 2019, despite some increased costs in the supply chain, particularly with freight, the firm noted.
As a result, it anticipates that Adjusted EBITDA and pre-tax profit for the year to 31 December 2021 will be ahead of 2019 and current market expectations, and its 2020 performance.
TP ICAP (TCAP) shares fell 10.28% to 141.09p as it warns investors of lower revenues
In a trading update for the three months to 30 September 2021, the broker said its revenues from its energy trading business increased by 16% to £92m over the period as a result of increased volatility and higher secondary trading volumes within the energy market.
The company also warned investors that Liquidnet, a dark pool trader which it acquired earlier this year for US$700m, is expected to generate full-year revenue at the lower end of the £160m-£180m range previously forecast as a result of recent low equity market volumes.
Despite this forecast, the group said it expects full-year revenues to be in line with last year.