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Earthport flies after heavyweight FX appointment and broker tip

Wed, 06th Jan 2016 16:39

(ShareCast News) - Earthport shares were one of the top risers in London on Wednesday, helped by the strengthening of its forex team with a heavyweight appointment and some encouraging words from a broker.The AIM-listed payments network provider, which enables financial institutions, money transfer organisations and digital merchants to more easily and cheaply send cross-border payments, appointed former ex-Morgan Stanley and JP Morgan F brokerage head Peter Klein as its new global head of FX, effective immediately."A strong FX product offering complementing our core payments and compliance capability is key to fulfilling this mission: we plan to expand the functionality and treasury sophistication within the Earthport product suite," said Earthport's European head, Daniel Marovitz."Peter will lead the execution of a powerful integrated strategy to support our global payment network."Earlier, Jamie Constable, equity sales partner at broker N+1Singer noted that Earthport's share price had recently fallen back from its high reached in September of 46p to 27p at the latest close but suggested buying on the back of the company's placement in a hot area of the payments space."There has been a lot of "noise" in the global payments sector around for example block chain and its potential application," he said."It is important to note that if distributed ledger technologies are adopted by the banking community then Earthport already has significant experience in the area via its partnership with Ripple and could be perfectly positioned to be the hub in the middle. In the meantime they are engaged with a wide number of organisations both corporate and institutional around their solutions."While cautioning investors that this was a long-term play, he suggested the fall back in the shares provided a "great opportunity" to build a holding.Earthport's 22% rise on the day to 33.75p suggested some others agreed.
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London close: Footsie snaps 4-day losing streak

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26 Jan 2010 14:19

London afternoon: Losses pared

Leading shares cut back their losses over the lunch time session but resource stocks remain under the cosh on fears that the Chinese authorities will step up its campaign to cool down its overheating economy and lift interest rates. Fresnillo, Xstrata and Kazakhmys lead the mining sector lower, wh

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26 Jan 2010 12:03

London midday: GDP figures no comfort

News that the UK economy limped out of recession in the fourth quarter has failed to cheer equities, which remain more concerned about China and the possibility its government will slam the economic brakes on. The UK economy grew just 0.1% in the fourth quarter, far less than expected. Economists h

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26 Jan 2010 08:49

London open: Blue chips struggle

Footsie has fallen again in early dealing with miners again under pressure on worries about overheating in China and the possibility its government will slam the economic brakes on. The big mining names are all lower this morning. Rio Tinto, Anglo American and Lonmin are the worst affected, but fal

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26 Jan 2010 07:41

Earthport to raise up to £875,000

Struggling global payments provider Earthport is trying to grab itself a lifeline with a placing of up to 7m shares at 12.5p to raise £875,000. Directors are subscribing for 1.88m shares. The electronics payments group, where chief executive James Bergman resigned last week, added there is still n

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20 Jan 2010 08:17

Earthport slumps as CEO jumps ship

Struggling global payments provider Earthport has parted company with chief executive James Bergman, confirming recent speculation he was about to go. The company said Bergman has resigned with immediate effect and that his duties will be taken on by the executive team. Shares in the group have pl

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2 Dec 2009 07:59

Small caps round-up: Sirius, Catalyst Media, Globus Maritime...

Sirius Petroleum has raised £1.1m through a placing at 6p to cover the costs of due diligence on an as yet unnamed acquisition target and to provide working capital. The fund raising is part of Sirus's strategy to neter joint venture partnerships on marginal fields. Shares in Catalyst Media jumped

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23 Nov 2009 16:37

London close: Footsie 100 points higher

Footsie closed more than 100 points higher on Monday thanks to a record price for gold, an early rally on Wall Street and strength across the financial sector. Gold has hit new highs, and that has led to sharp mark-ups in the price of gold miner Randgold and silver and gold miner Fresnillo. Elsewhe

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23 Nov 2009 14:49

London afternoon: Rally into three figures

A record price for gold, an early rally on Wall Street and strength across the financial sector has sent London to its best levels of the day. Gold has hit new highs, and that has led to sharp mark-ups in the price of gold miner Randgold and silver and gold miner Fresnillo. Elsewhere in the sector

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23 Nov 2009 12:06

London midday: Cadbury hits new high

London shares are racing ahead as the dollar's recent strength wanes, prompting renewed interest in mining shares. Gold has hit new highs, and that has led to sharp mark-ups in the price of gold miner Randgold and silver and gold miner Fresnillo. Elsewhere in the sector ENRC, Lonmin, Xstrata, Rio

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23 Nov 2009 08:51

London open: Miners propel Footsie higher

Miners are driving Footsie higher again, with all of the top ten gainers metals groups. Xstrata, Rio Tinto and Randgold are the top risers, but the gains are sector-wide and strong. There's also good news at Lloyds Banking Group where the bank has the part-nationalised lender enjoyed "strong dema

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23 Nov 2009 08:35

Earthport soars on franchise deal

Global payments provider Earthport saw its share price ascend on Monday morning after it signed a franchise agreement covering Latin America and the Caribbean. Zink Financial will provide Earthport with a non-refundable franchise fee of £3.25m for the territories of Central America, South America a

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9 Nov 2009 11:43

Small caps round-up: Nautical Petroleum, ThirdForce, Allied Gold...

Oil group Nautical Petroleum reported 'significant progress' in its asset portfolio in the year to June 30 and said it expects its assets to rise in value once they move into the execution stage. Pre-tax losses for the year totalled £6.63m, compared with £4.52m the previous year. Shares in e-learn

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20 Oct 2009 16:50

London close: Footsie slips back

There was no shortage of company news to give Footsie direction but it was the release of housing data in the US that ultimately dragged the leading share index into the red. Housing starts increased to a seasonally-adjusted annual rate of 590,000 last month, up 0.5% above a revised 587,000 in Oct

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20 Oct 2009 14:19

London afternoon: Footsie pulled both ways

Footsie is struggling to find any sense of direction despite some big movements in individual companies' share prices. Fast growing software company Autonomy is finding the market hard to please. Despite another spell of strong organic growth in the third quarter, the shares are the worst performer

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