Asset manager Ninety One found its shares briefly under pressure on Friday following some strong gains being posted of the back encouraging full year results mid-week. The theme of this release was one that focused on an improving performance as the year had progressed, with the momentum that had been built up seen as sustainable, but is some of the enthusiasm here now waning? The N91 share price was down 4% in early trade, although losses had been reversed heading towards 9am.
It’s been a broadly quiet start to the week’s final session but Hydrogen Utopia International, a company specialising in turning non-recyclable mixed waste plastic into hydrogen and other carbon-free fuels, has this morning announced that it has signed a heads of terms giving access to exclusive licenses for waste-to-hydrogen technology. If successful, the first phase will target Saudi Arabia and the UAE, with binding commitments expected within 120 days. The Hydrogen Utopia share price was up almost 50% shortly after the bell.
Cloud based retail software provider Pinewood advised the market this morning that it had entered into an acquisition agreement to buy out JV partner Lithia in its North American operation. That will be covered by the issue of new equity in the parent company and once completed, Pinewood will enter into a five year agreement with Lithia to roll out its AI software across all of the company’s US & Canadian sites. The move should generate at least $40m in ARR, taking total annual income from Lithia to $60m. The Pinewood share price is 16% higher in early trade.
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