IP Group has a portfolio of investments in breakthrough scientific companies and issued a note this morning regarding the company’s exposure to a weight loss drug manufacturer Metsera. Whilst Pfizer recently agreed to buy the company, IP Group stand to benefit from royalties paid on recurring revenues so positive test results this morning gave given investors something to cheer. The IP Group share price is up 8% in early trade.
It was a mixed bag for the science technology provider Oxford Instruments Group who this morning provided an interim trading update. Macroeconomic uncertainty has been weighing on the imaging and analysis division of the company, but tailwinds were at the same time being reported for the semiconductor side of the business. H1 revenues are expected to be around 8% lower than the comparative, but the H2 print is set to recover. There’s plenty to cheer here but the fluid nature of the macro backdrop is clearly cause for concern. The Oxford Instruments share price was almost 11% lower shortly after the open.
The gold and copper mineral exploration and development company Kefi issued an update this morning on its Tulu Kapi gold project. This highlighted that the company’s $240m debt capital offering is now expected to take place this week following the resolution of procedural matters. That has been sufficient to bolster support for the company and the Kefi Gold share price was trading some 29% higher by 8.30am, heading towards four year highs.
Most read news on Investegate this morning
Proposed acquisition of North Sea assets from BP - - Serica Energy (SQZ)
Motor Finance Update - - Lloyds Banking Group (LLOY)
Tulu Kapi Gold Project Update - - KEFI Gold and Copper (KEFI)
