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Shares fall again in London - down 70 at the moment following yesterday's late slide on Wall Street as rising government bond yields refuelled interest rates worries. The DOW is down 70 (now recovered to -28) again today but I am confident it will re-bound as traders discount the afore-mentioned worries about interest rates.
Banks and property firms are the biggest contributors to the fall in the FTSE 100.
The FTSE has fallen 1.2% over the last three days.
Four out of nine at the Bank of England voted for a rise in interest rates so probably next month they will be up again, which is good news if you've got money tucked away. Bad news if you're broke - you will be getting broker!
Lots of red everywhere in fact, even my two recent favourites - ITM and SLN are down (takeover rumours abound re. SLN) and the Financial Times printed this yesterday re. ITM.
"ITM Power rose 5.9% to 134p after Westhall Capital issued an upbeat note rating the stock a "buy", saying it expected "significant news flow" in June related to the launch of the company's bi-fuel car and home electrolyser refuelling system." Well there ain't much of June left so not long to wait.
OXONICA
Yesterday, as I mentioned, OXONICA (OXN) shot up 80% at one point - it finished the day up around 45% - today it moved up again this morning around 25% early on - now up 21%.
Then at 13:44 they issued this statement
Oxonica plc 21 June 2007 Oxonica plc
Oxonica plc announces the receipt of a series of purchase orders totallingUS $1.16 million for a number of development products to be delivered over the next 9 months as part of a project with one of the existing customers of Oxonica's security business. In addition to the above amount, further purchase orders worth US $525k are contingent on the achievement of intermediate technical milestones. These orders represent significant progress in moving Oxonica's security technology towards product development on a commercial scale. These orders follow on from orders placed by the same customer through the period from November 2005 to April 2007 with a total value to date of US $1.52million. etc.....
The company is also carrying out a review of strategy which is nearing conclusion.
the "Board anticipates being able to update investors shortly. The Directors believe this will require the Company to raise additional funds through an equity offering."
How odd that there is no mention of yesterday's 80% rise!? Just one day before an announcement! Someone must be psychic, 'cause I can' t think of any other explanation.
1 comments:
Oxonica flying even with a competitor on the scene!
ADVANCED NANO EXECUTES STRATEGIC PARTNERSHIP WITH ENERGENICS,
PLACEMENT OF A$3 MILLION ANO STOCK
Advanced Nanotechnology Limited (ASX: ANO) today announced that it has executed the agreements for its strategic partnership with, and placement of Advanced Nano shares to, the Energenics group, a Singapore-based supplier of alternative energy solutions and technologies.
In accordance with the previously announced Letter of Intent, Advanced Nano and Energenics have now formally agreed their strategic relationship. The relationship is now in the form of a mutually exclusive five-year agreement for the supply of fuel-borne combustion catalyst products manufactured by Advanced Nano and sold by Energenics worldwide into the rapidly growing clean-burn fuel markets. The supply agreement, which supercedes the JV proposal previously announced, initially features Cercat™, a nanoparticulate cerium oxide dispersion manufactured by Advanced Nano for use with diesel engine fuels. However, the agreement’s scope extends to all metallic oxide nanoparticulate fuel-borne combustion catalysts for all fuel types.
As a condition of this strategic partnership, Energenics has agreed to subscribe for A$6 million of new Advanced Nano shares at a price of A$0.22 per share in two equal tranches. The first tranche of A$3 million will be issued within twenty eight days (being a total of 13,636,364 ordinary shares issued on the same terms as existing Advanced Nano ordinary shares and as approved at Advanced Nano’s June shareholder meeting). The second tranche is expected to take place upon Advanced Nano achieving invoiced sales of 150,000 litres of 2% Cercat (or equivalent) or within 24 months. Advanced Nano will also issue Energenics with 4,545,455 options for each share tranche (being one option for every three new shares subscribed for) at an exercise price of A$0.308 per share expiring on 30 June 2012.
Paul McCormick, CEO of Advanced Nano, commented “After further discussions with Energenics, it became clear to both parties that the best way to pursue this strategic alliance with Energenics is through an exclusive supply agreement rather than the joint venture company envisaged in the Letter of Intent. The alliance will put Advanced Nano in a strong position to secure a pathway to the world energy markets which is expected to provide an important and growing revenue stream for the Company.”
Ronen Hazarika, Managing Director of Energenics, commented “We are delighted to have concluded this strategic partnership with ANO. Energenics will now concentrate on rolling out cerium-oxide fuel-borne nanocatalyst technology globally. Our initial response from fleet and oil companies is very encouraging, and we are confident of being able to provide cost-effective solutions for global fuel markets.”
ABOUT ENERGENICS
Energenics is a supplier of alternative energy solutions and technologies, providing customers access to switched or phased renewable fuels programmes that deliver both energy use and gas emission reductions at zero or minimal capital cost.
Energenics is incorporated in Singapore and is rapidly becoming a market leader in delivering turnkey biofuel & energy efficiency projects to fleet users using innovative technologies either developed in house or licensed in from technical partners. In conjunction with these turnkey projects, Energenics also provides a full Carbon emissions trading service, which involves the trading of permits to emit carbon dioxide (and other greenhouse gases).
Ronen Hazarika, Managing Director of Energenics, is the original inventor of technology protected by patents relating to coated cerium oxide nanoparticles used as a fuel-borne catalyst.
About Advanced Nano
Advanced Nano develops, manufactures and sells advanced nanomaterials products worldwide that deliver significant performance and value improvements to its customers' products. Advanced Nano's MCP™ nanopowder manufacturing technology is a patented, platform technology that enables the production of a broad range of high quality nanopowders and nanomaterials.
Advanced Nano is targeting four key markets with its commercial products -- Energy & Emerging Technologies; Personal Care & Life Sciences; Plastics & Polymers; and Coatings, Inks & Textiles. Advanced Nano's products are manufactured and marketed under four parent brands: ZinClear® -- sunscreen dispersions that allow SPF 30+ sunscreens containing only zinc oxide as the UV absorber; Alusion® -- soft focus effect pigments for masking ageing effects; Cercat™ -- fuel-borne nanocatalysts; and NanoZ® -- nano zinc oxide additives that allow stable UV absorber performance for coatings and plastics.
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