Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Music Magpie: after difficult Q1, performance improving
Music Magpie LON:MMAG has published a trading update covering the six months to 31st May. Noting weak consumer confidence and the impact of postal strikes during Q1, the picture improved during Q2. EBITDA performance for the first half was up 7.7% and in line with management expectations. The company envisages that as is usual, seasonal patterns will help H2 performance and that the pivot towards higher margin sales will help deliver an on target FY despite economic headwinds.
- Small Cap Stocks: musicMagpie, Emmerson, Arkle Resources
- Three Quick Facts: JD Sports, AO World, Shepherd Neame
- Three Quick Facts: Norman Broadbent, Computacenter, Immupharma
#2. Immupharma: next phase of clinical trials underway
Immupharma LON:IMM has announced that the next phase of its clinical trial of a Lupus therapy is to commence in the second half of the year, following the receipt of detailed guidance from the FDA. This is for a phase 2/3 adaptive clinical trial that will include dosing at much higher concentrations with significant changes to patient inclusion criteria and primary and secondary clinical endpoints.
#3. Barryroe shares suspended
Followers of our Small Cap roundup may recall Barryroe [LON:BEY], the offshore energy firm which ran into a significant roadblock from the Irish government over drilling licenses, despite secured funding for the project being held in escrow. Talks are underway with shareholders to see if funding for day to day operations can be secured but failing this the company has by now initiated a Creditors Voluntary Liquidation process and shares have been suspended. This could well play out for some time yet.
