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Welcome to taking stock on...on Thursday 29th June 2023.
It's a round up of today's business news & investment views. Including: Today's Indices, Winners & Losers, Most Read RNS's Plus...
Vadim Alexandre, Head of Healthcare at SP Angel discusses, over the next 5 weeks, UK listed healthcare small & micro caps that will benefit from their AI capabilities. Today he looks at:
Spectral MD
3 Top Business Stories
1. All-inclusive package holidays have jumped in price for Mediterranean hotspots including Majorca and Crete.
The average price of a week with full food and board in Majorca in Spain is up 21%. Prices for Tenerife have risen more than 22%, figures from TravelSupermarket showed.
2. Major mortgage lenders have embarked on a fresh round of rate rises, with the interest rate on a typical five-year fixed deal now close to 6%.
The Halifax, part of Lloyds Banking Group - the UK's biggest lender, and the Nationwide Building Society have increased rates on new deals.
3. The mining of battery-grade lithium carbonate - a key component in electric cars - has been announced in Cornwall.
The joint venture between china clay company Imerys and British Lithium aims to operate the UK's "leading lithium hub" within five years.
Their target is to supply 500,000 electric cars with the component, per year by the end of the decade.
WINNERS & LOSERS
WINNERS
1. AMTE Power - Faraday Battery Challenge
The Company understands that it has been awarded a grant of £398,000 for the production of cells at the UK Battery Industrialisation Centre.
As announced yesterday, it remains the case that should the Company be unable to secure additional funding within no less than the next three weeks, the prospects for recovery of value, if any, by shareholders would be uncertain.
LOSERS
1. tinyBuild - AGM Trading Update and Directorate Change
First-half performance below expectations due to lower contribution from platform deals and the underperformance of Red Cerberus and Versus Evil has resulted in a material reduction to FY consensus revenue and a more acute reduction in Adj. EBITDA in 2023 and 2024.
Cash position at the end of December 2023 expected to be between $10-20m, below the previous expectations of at least $26.5m
Tony Assenza, CFO, has resigned from the Company and the Board with immediate effect.
Most Read RNS's
1. Atlantic Lithium - Ewoyaa Definitive Feasibility Study
3.6 million tonnes ("Mt") spodumene concentrate production over 12-year Life of Mine ("LOM").
Exceptional Project economics: Post-tax Net Present Value ("NPV8") of US$1.5bn with free cash flow of US$2.4bn from LOM revenues of US$6.6bn, Average LOM EBITDA of US$316 million per annum, Internal Rate of Return ("IRR") of 105% and short payback of 19 months.