UTV Media
jumped 3.1 per cent to 154½p on Tuesday after Talksport secured the radio rights to the Premier League outside Europe in a groundbreaking deal.
Talksport
, which was bought by UTV in 2005, will broadcast commentary outside Europe on all 380 Barclays Premier League games in multiple languages, including English, Spanish and Mandarin.
Galileo Resources
surged 9.5 per cent to 40½p after maiden resources at its flagship Glenover rare earths project in South Africa surpassed expectations.
The rare earth explorer’s chief, Colin Bird, said the results provided Galileo with “immense confidence to advance the project to a preliminary economic assessment, for which bids are already being invited from leading engineering consultants”.
Oxford BioMedica
fell 12.9 per cent to 5.1p, reversing some of Monday’s 41 per cent gains, as broker Peel Hunt downgraded the biopharmaceutical company to “sell” from “hold”.
Peel Hunt argued that while the data from Monday’s trial of ProSavin was successful in terms of safety, the broker still saw “no evidence of a clear efficacy improvement over the expected placebo effect” and targeted a price of 3.2p.
Renold
fell 9.6 per cent to 34.1p after revealing growth in the second half of the year to March 31 slumped, particularly in Europe.
However, the transmissions parts specialist also said that while “European growth is likely to be moderated by the ongoing economic uncertainty, good sales growth is still expected to continue in both divisions in the rest of the world”.
Finally, GMA Resources
, an Algeria-focused miner, slumped 32 per cent to below 1p as it edged ever closer to winding up completely.
GMA said its wholly owned subsidiary, Gold Mines of Algeria, had completed the transfer of its shares, representing 52 per cent of the issued capital in ENOR Spa, to its former joint venture partner, Sonatrach RCH.
That left GMA as a technically classified investment company with just £63,000 of cash on its books. And while the company’s directors will seek to conserve that cash for as long as possible, if it is unable to make a recommendation on a suitable acquisition in the short term, it will have to place itself in the hands of the administrators.