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Gocompare Car Insurance Australia – Shares of Gocompare, known for its singer Gio Compario, are not worth it today as investors look for better deals on price comparison sites.
The group, which was spun off from car insurer Esure last month after its IPO, fell 1.75p, or 2.5%, to 69.25p after the announcement. Investec investors told people the company would struggle to succeed as a corporation. independent business.
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He fears he will have to spend a lot of money on advertising to make Gio Compario’s voice heard on the more lucrative Moneysupermarket.com, which has a larger marketing budget.
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The company makes most of its profits through insurance transfers and Lietchi believes the funds needed to diversify into other areas will also flow through.
The Investec analyst has initiated a sell on the shares with a price target of 57p, suggesting it will be a tough first year as a standalone stock.
He said big players would not be able to buy the company, but added that “more smaller players like Zoopla” might be interested.
Meanwhile, shares in Moneysupermarket.com rose 1.7p to 279.5p, behind the market high, with the FTSE 100 up 15.93 points, or 0.2%, at 6906.35.
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Unilever, which rose 46.18p, or 1.5%, to 3,158.18p, was among the investors after investment bank Jefferies raised its rating to Buy, impressing commodity investors recently.
Equiniti’s registered shares fell 8.25 pence, or 4.3 per cent, to 186 pence after the evening revealed its former owner Advent, the US private equity firm, was in the final stages of a sale of his remaining shares in the company, which had been valued last year. at £500 million.
The sale of Advent’s 7.9% stake is being implemented through fast-track bookings in the city and is expected to be worth almost £50 million, sources said. Advent declined to comment.
Investment firm Stanley Gibbons fell 0.25p on AIM to 10.5p. This follows a strong performance yesterday, which traders believe was driven by data manipulation.
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Shares in Richland Resources, part of whose tanzanite mines were seized by illegal armed miners in 2012, were in the crosshairs, falling 0.13 pence, or 11 per cent, to 0.99 pence after the issuing a discount of shares to raise £1 million.
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