TechMark movers: Phytopharm continues drift lower

28th Oct 2009 15:13

Shares in drugs developer Phytopharm have been drifting lower since the initial jump in the share price following positive news concerning the efficacy study for Parkinson's Disease treatment Cogane. This news was released on 14 October and the share price soared from 6p to 26.75p. A fortnight later the share price is back to 13.5p, having featured on the top ten TechMARK fallers for eight out of the past nine trading days. The shares are still more than double their level a fortnight ago and higher than one year ago.There has been regular trading in the shares but it has predominantly been in small parcels of shares. Three trades today were valued at less than £100 each.Shares in Vodafone edged ahead as Barclays Capital initiated coverage of the European telecoms sector with a positive view of the mobile phone giant. Barclays Capital set a target share price of 168p. The broker describes the shares as "clearly inexpensive" although short-term earnings may remain under pressure even after recent cost cutting initiatives. FTSE TechMARK - RisersEmblaze (BLZ) 53.00p +7.07%Kofax (KFX) 178.00p +2.01%Phoenix IT Group (PNX) 234.50p +1.96%Visonic (VSC) 67.50p +1.50%NCC Group (NCC) 395.00p +1.28%Asterand (ATD) 21.25p +1.19%Genus (GNS) 670.00p +1.13%Vodafone Group (VOD) 138.15p +0.25%BAE Systems (BA.) 321.30p +0.09%FTSE TechMARK - FallersPhytopharm (PYM) 13.50p -11.48%Sinclair Pharma (SPH) 35.25p -10.19%E2V Technologies (E2V) 67.00p -8.22%Trafficmaster (TFC) 35.00p -7.28%Dialight (DIA) 195.00p -6.25%Oxford Biomedica (OXB) 13.00p -5.45%Vernalis (VER) 83.00p -4.60%Gresham Computing (GHT) 26.75p -4.46%Skyepharma (SKP) 75.00p -4.46%BATM Advanced (BVC) 53.00p -4.07%