SMALL-CAP MOVEMENTS: 4Global sports data group powered by the Qatar World Cup; Longboat Energy plummets
As the sports world’s attention descends on Qatar for the 2022 World Cup, 4Global’s data center offering is finding favor with the kingdom’s new soccer clubs and venues.
Shares of the data group rose 6.7 percent to 62.5 pence in the past five days as it announced a pair of big deals in the Middle East.
Officially, the World Cup was not named, but a prize of £200,000 was described as “the host nation of the next major football sporting event scheduled for late November and ending in mid-December”.
4Global shares jumped 6.7% this week as it announced a couple of big deals in the Middle East
4Global is in the data business. Sports data, specifically and how to use it to get the most out of major sporting events.
The AIM-listed company’s team of scientists and statisticians provide a technology stack comprising a range of tools and dashboards.
Billions of data points come together to provide actionable insights to a customer base of governments, cities, federations, and public and private activity providers on how people’s activity habits change after a major event.
4Global has expanded its reach in recent months through a business partnership with EuropeActive, but this week it was all about the Middle East.
In addition to the £200,000 profit, 4Global was awarded a £4 million project over five years with a major sports infrastructure project for an unnamed city also in the region.
“This is an important contract award for the company, representing one of the largest initial awards in our history and providing a valuable foundation for our plans for years to come,” said Eloy Mazón, CEO.
Meanwhile, AIM had a mixed week. The Junior Market All-Share Index jumped on Tuesday but corrected in the second half of the week only to rebound on Friday.
On Friday it rose 0.5 percent to 813.7 compared with a 1.3 percent rise in the main market All-Share Index.
Atlantic Lithium was another rise as its Ewoyaa lithium project in Ghana continues to impress.
The most recent drilling uncovered the highest metal grades yet as it filled gaps in its main deposit, while intercepts from new exploratory wells further afield were also described as encouraging.
Shares jumped 20 per cent on the news, marking a 66 per cent rise this year, while broker Liberum repeated its buy rating and target of 46 pence, which was quickly exceeded with the price now at 47 pence. .4 pence
Oil and gas company Jadestone Energy rallied 14 percent to 78 pence after BP’s $20 million acquisition of the North West Shelf off the coast of Western Australia.
Meanwhile, Libertine Holdings rallied after a sharp drop in the trading session on Monday.
A trading update on Thursday noted that the engineering services company delivered £600,000 of trading revenue in the first half of its current year.
Libertine has also partnered with an Italian engine developer to create lean, energy-dense linear generator products using renewable fuels. Stocks finished the week including Steven at around 15p.
Longboat Energy was one of the losers as the North Sea-focused oil business took a 40 percent hit to its market value.
Investors were not impressed with test results at the Oswig condensate discovery off the Norwegian coast.
In a pragmatic statement, Chief Executive Helge Hammer said: “Longboat is pleased to have made a discovery in the Oswig well, albeit at the low end of pre-drill expectations.”
Enwell Energy, another AIM-listed oil and gas group, saw its shares fall on Friday after receiving another adverse ruling in Ukraine’s legal proceedings regarding its Svystunivsko-Chervonolutskyi (SC) exploration license.
In trading on Friday, Enwell Energy shares were down 13 percent at 22.7p and down 19 percent over the week.