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March 28th, 2007
On the downside, shares in Oxonica fell 16-1/2 to 117-1/2 after the nanotechnology group said initial results from the second data point of 30,000 km of the fuel-borne nanocatalyst Envirox track trial - being carried out in Turkey on Turkish high-sulphur diesel fuel - are currently 'inconclusive'.
Following the news, Panmure Gordon downgraded its stance to 'hold' from 'buy' and cut its target price to 115 pence from 200. The broker also lowered revenue estimates for 2007 and 2008 by 42 pct and 56 pct respectively.
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