Online dating group Cupid (CUP:AIM) has been dumped by investors after a blossoming relationship turned sour. The £120 million cap slumped 10% to 141p, extending several days of losses, after a financial blog published internet monitoring data which implied the group's portfolio of websites to be losing popularity. The company was forced to respond to the large sell-off in its stock by saying its 2012 results would meet forecasts. What has since held back a share price recovery is the revelation that a consumer radio programme is investigating the online dating world.
Gaming stocks were more in favour after New Jersey Governor Chris Christie implied that the state would legalise online gambling. Bwin.Party (BPTY) saw the largest rise following the news of 24.20% to 140.90p, followed by Playtech (PTEC) was up 22.30% to 512p. 888 (888) also benefited with its stock rising some 20% to 136p, while Sportech (SPO) was up 4.25% to 80p. Click here for the full story.
A strong third quarter saw Workspace (WKP) advanced 4.4% to 331p on a strong trading update. In the last three months of 2012, the commercial space provider to small businesses pushed up rental prices by 1.4% and occupancy levels by 0.8%. Stockbroker Panmure Gordon increased its price target to 350p from 325p believing that Workspace will make a £17.5 million pre-tax profit for the financial year to April.
Catlin (CGL) dropped 2.5% to 524p after management reported below consensus pre-tax profits for 2012 at a time when several of its peers are producing market beating results. The insurer’s premiums increased 10% year-on-year to $4.97 billion but rising claims from the Costa Concordia disaster saw its pre-tax profits hit $339 million, below the $383 million the market expected. 'Catlin has, once again, not quite delivered,' says stockbroker Westhouse . These results came a day after rival Beazley (BEZ) reported pre-tax profits $30 million ahead of consensus for 2012. 'With so many insurance companies currently beating consensus estimates with their FY12 figures, Catlin's results looks underwhelming,' adds Westhouse.
Oil company RusPetro (RPO) continued its slide following yesterday's postponement of its planned $350 million bond issuance and news that it is likely to miss its production targets. The stock dropped a further 3% to 43p, its lowest level since its London debut (Jan '12).
This was not the only oil company to suffer today. PetroNeft Resources’ (PTR) shares dived 16% to 4.88p following news that the small cap, which owns and operates several licenses in Russia, is experiencing mechanical problems at two of its wells.
North Sea oil play Trap Oil (TRAP:AIM) agreed a farm-in deal into the Trent East Area, sending its shares up 1.8% to 13.88p. Click here for the full story.
The rally in software specialist WANdisco (WAND) shows no sign of slowing down. It has advanced a further 10.4% to 742.5p after a new product launch.
Also rising was Legendary Investments (LEG), which improved 11% to 0.1p after its Medgold Resources (MED:TSX-V) gold exploration business secured an option on two licences in Portugal, which the company claims have multi-million ounce potential.
Mobile web-payments company Bango (BGO:AIM) saw its stock rise 5.8% to 219.5p after completing a £6.5 million offering to fund emerging market development and strengthen its balance sheet. The new shares were priced at 200p.
Biology play Physiomics (PYC:AIM), which is developing cancer therapies, saw a 12.5% improvement in its price to 0.14p upon publishing half-year results where operating losses decreased 6.4% to £307,685.
There was bad news for those backing Angel Biotechnology (ABH:AIM). Its shares were suspended pending clarification of its financial position. Talks to enter a strategic partnership to improve manufacturing and keep the business afloat have collapsed, forcing Angel to announce that it will go into administration.