After a 70% plus increase in the Quindell share price last week, the shares are up another 29% to 108p today after announcing some crucial board changes and an update on its cash position as well as a status update on the PwC review.

Quindell announced today that the privately owned asset manager, Toscafund, the company founded by Martin Hughes in 2000 and specialising in absolute return products, had bought 24.3 million shares representing 5.3% of the company.

Shares of wearable fitness specialist Fitbug (FITB) has been a little subdued of late after an amazing run that pushed them from 0.4p to 26p in little more than weeks after deals with Samsung, Target and Sainsbury.

Brent Crude is currently down around half a dollar to $59.5 compared with $115 in June. The implications for small and mid cap oil shares has been dramatic with their share prices in free fall over recent weeks. With the price of oil so stable for so long at over $100 a barrel, most companies were developing projects on the basis that the price per barrel was unlikely to drop below $80, never mind $60, levels last seen in  [read more →]

You couldn’t write a better story than the goings on at Quindell. One controversial piece of news after another! The shares fell as low as 25p yesterday, almost a 50% drop, as the company announced ex-Chairman Rob Terry sold over 25 million shares.

Wearable fitness device company, Fitbug, fell 25% yesterday and is down another 5% today on news of a £3.5 million discounted placing and management changes.

After months of turmoil at Quindell, culminating in the resignation of founder Rob Terry in November, the interim non-executive Chairman David Currie today announced steps to try and dispel the allegations being made against it in a report first issued by Gotham City Research in April this year.

If you’re a trader and you want volatility then you can’t get much more volatile than AIM listed Quindell. Last week its shares collapsed as low as 43p following news that Chairman Rob Terry and two other directors had resigned from the board after a botched share scheme with Equity First Holdings.

After rumours of a cash crunch and an asset fire sale at Quindell the company was forced to issue a reassuring RNS yesterday that it had no current plans to sell its stake in Accident Repair Group. The shares fell as low as 42p on Wednesday, but bounced 30% yesterday on ARG clarification.

Shares in Salamander Energy, the South East Asia focused oil and gas explorer, fell 17% on Tuesday when it was announced that a consortium led by Cepsa were walking away from a possible deal.