Morgan Stanley has raised its recommendation for ITM Power (LON: ITM) to overweight and has a target share price of 170p. The share price rose 13.25 to 146.75p.
Shares in Xeros Technology (LON: XSG) bounced back following yesterday’s results. The sustainable laundry technology developer expects a sharp rise in revenues this year, albeit from a low base. There is cash in the bank and that will last well into 2027. The royalty levels earned this year will depend on how well the launches of new washing machine filter products go. The share price rebounded 11.5% to 1.7p.
A first quarter update from Thor Energy (LON: THR) highlights the move to focus on hydrogen and helium in Australia. The results of a soil-air geochemistry survey will be reported in the next few weeks. A 2D seismic survey will help to target drilling. Cash is A$3.3m. The share price improved 8.33% to 0.65p.
Digital health company MedPal AI (LON: MPAL) has acquired the Remedi Solutions pharmacy facility in Runcorn from administrators for £310,000. Historical annualised turnover was previously around £10m. MedPal has been operating the pharmacy ahead of approval for the transfer of ownership to the company. The share price increased 4% to 2.6p.
FALLERS
Sexual dysfunction treatments developer Futura Medical (LON: FUM) is putting its new strategy into force by cutting costs and focusing on a more commercial approach. Female sexual dysfunction treatment WSD4000 has significant potential, and a phase 3 trial could start before the end of the year. Potential partners are in talks with the company. There was £3.4m in the bank at the end of 2025 and this should last until June. The previously highlighted milestone payment from Haleon for achieving the Eroxon patent in the US has still to be paid, but management is confident that it has been triggered. This cash should come in before June and would last until the end of the year. Alternative funding options are being assessed just in case the Haleon payment is not made before June. The share price slipped 32.85 to 0.874p.
Promotional retailer SpaceandPeople (LON: SAL) grew 2025 revenues one-fifth to £8m, while pre-tax profit improved from £225,000 to £491,000, which was in line with forecasts. Event driven retail promotions are doing well in a period of weak consumer confidence. Pre-tax profit is expected to rise to £750,000 this year and net cash should be maintained at around £1.6m. Even so, the share price declined 13.2% to 165p.
Compliance software provider Skillcast (LON: SKL) increased annualised recurring revenues by 19% to £13.8m last year. In 2025, revenues were 18% ahead at £15.3m, while pre-tax profit rose from £600,000 to £1.7m. A further rise to £2.2m is forecast for 2026. The share price continued its recent downward momentum and is 8.35% lower at 47.2p.
Cosmetics supplier Warpaint London (LON: W7L) was hit by US tariffs and weak consumer confidence in 2025 and this continued into early 2026. Full year revenues edged up from £101.6m to £105m, but it would have been lower without the brands acquired last year. Gross margin improved, but pre-tax profit dipped from £24.6m to £19.2m. It could rebound to more than £20m this year, but it is still early in the year. This year will be more second half weighted with a much larger Christmas order from Walmart. The share price fell 6.67% to 175p.