Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Rightmove: strong performance despite market uncertainty
Rightmove LON:RMV has issued a trading statement today, noting that since reporting interims in July overall revenues have tracked marginally ahead of consensus expectations, despite ongoing uncertainty in the housing market. As a result ARPA – Average Revenue per Advertiser – growth is now expected to exceed previous forecasts by around 10%, with new home developments driving much of the growth. Operating profits are set to grow by 7-8% with underlying margins expected to be 73%.
- Small Cap Stocks: Borders & Southern, GENIP, Smarttech 247
- Quadrise shares up over 300% in two-months
- Quadrise passes milestone test
#2. Molten Ventures fundraise to tap into discounted valuations
VC firm Molten Ventures LON:GROW has this morning announced a proposed £50m fundraise to allow the business to make follow on investments at some of the discounted valuations that the market is currently offering. The company has also announced that it will acquire the remaining shares in Forward Partners at a 3.4% discount to last night’s closing price and a whopping 63% discount to the last published NAV of just two months ago. Fortune favours the brave – hopefully.
#3. Quadrise pre-AGM statement recaps recent progress
Quadrise [LON:QED] issued a statement ahead of their AGM today, providing a round up of key project developments. The company continues to make in roads into net-zero fuel solutions although this statement appears to be a recap rather than bringing anything new to the table ahead of the shareholder meeting. The fact the company is however preparing for sales of its novel fuels via commercial partners enabling it to scale quickly once key milestones are met is worth noting.
