ROUNDUP: TMT stocks in London on Wednesday
- Added:
- Feb 28, 2001
TechMARK led the fallers with a 50.3 point drop to 2,303.37 and was followed by the FTSE 100 which slid 23.3 points to 5,917.9. Even the slothful AIM finished the day down 12.5 points at 1,335.3.
LSE-listed personal finance interactive television service Money Channel today clawed back some of its recent heavy losses, gaining 18.7% to close at 19p, as confidence slowly flowed back following recent worries over the cash position of the company.
LSE-listed UK ISP and portal Freeserve had a roller coaster day's trading with shares reaching the dizzy heights of 110p then falling to 92p before settling up 13% at 107.5p.
WAP Integrators jumped 9.5% to 5.75p with rumours that the company has more football club deals in the pipeline following last week's tie up with Leeds United.
Cash shell Orchard Furniture traded a massive 83.1m shares and rose 7.8% to 0.82p with the usual rumours doing the rounds once again that a reverse takeover deal is imminent.
Another bad day for companies releasing financial results, with the biggest faller being AIM listed ISP and financial services company Totalise, which slumped 18.9% to 11.75p after reporting increased interim losses.
LSE-listed internet ventures and technology company Bright Station followed closely with a 15% drop to 31.25p on its year-end results which showed a 12.8m pre-tax loss. Internet and technology incubator Brainspark dropped 12.2% to 25p after announcing in its year-end results that it is to axe a third of its staff. Games developer Eidos also suffered a 15% drop to 228p after reporting poor revenue growth.
Big falls were also felt by cash shell Bidtimes, down 8.8% to 20.5p after releasing results stating that it was still looking for suitable acquisitions, network technologies company Spirent down 8% to close at 379p, and video-over-IP software company Indigovision down 7.8% to 205p.
ThreeW.net AIM-listed internet and e-commerce investment company tried to sneak out results as markets closed last night but this did not stop its shares taking a battering this morning. The company, which offered itself up as a reverse takeover candidate, saw its shares sliding 10.9% to 28.5p.
Only two TMT companies reporting results managed to post gains, albeit small ones. LSE-listed virtual networks service provider Project Telecom added 2.8% to 89p after reporting increased sales figures, while interactive 3D virtual exhibition provider Expocentric gained 1.3% to closet at 74.5p following contract wins, promising more were in the pipeline.