TechMARK movers: Broker boost for Torotrak

25th Nov 2010 12:55

Torotrak has perked up today following yesterday's buy note published by Charles Stanley.Gearbox designer Torotrak increased development costs to £2.5m in the first half, but still narrowed interim losses to £1.8m from £2.2m this time last year.Charles Stanley has initiated coverage following the interim figures. The broker believes that moves to improve fuel economy and reduce emissions will push automotive firms into adopting new technologies. Torotrak has invested £75m in its technology and has already signed up a number of licensees. Charles Stanley forecasts a small profit in 2012-13. Renovo is one-third higher on the week following Tuesday's announcement of positive phase I data for a formulation of scar revision treatment Juvista, while QinetiQ continues to rise on the back of its $2bn contract with NASA. There has been some profit-taking in DRS Data following yesterday's trading statement saying that the 2010 results would be ahead of market expectations. FTSE TechMARK - RisersRenovo Group (RNVO) 46.00p +10.84%AEA Technology Group (AAT) 5.75p +7.88%Torotrak (TRK) 20.50p +6.49%Xaar (XAR) 226.50p +4.86%Ark Therapeutics Group (AKT) 4.00p +3.90%Innovation Group (TIG) 13.75p +3.77%QinetiQ Group (QQ.) 117.10p +3.26%Promethean World (PRW) 81.00p +2.86%Biocompatibles International (BII) 367.75p +2.58%Sinclair Pharma (SPH) 31.50p +2.44%FTSE TechMARK - FallersNXT (NTX) 3.50p -3.58%Skyepharma (SKP) 34.00p -2.86%Cable & Wireless Worldwide (CW.) 62.15p -1.74%DRS Data & Research Services (DRS) 22.00p -1.12%Kewill (KWL) 90.00p -1.10%E2V Technologies (E2V) 97.00p -1.02%Sage Group (SGE) 256.30p -1.00%XP Power Ltd. (DI) (XPP) 995.50p -0.45%Wolfson Microelectronics (WLF) 230.25p -0.43%