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Monitise (MONI) Share Price London Stock Exchange October 30

Monitise (MONI) Share Price London Stock Exchange October 30

Wednesday saw Monitise (MONI) recover some of the losses it had suffered earlier in the week. Having opened at 29p the share price rose throughout the day and reached 32.25p before closing up 9.40% at 32p. This means that the share price is now unchanged for the week, but it is still down 8.59% for the month.

The change in direction came as reports surfaced that IBM is considering furthering their partnership agreement with Monitise and buying the company. While the reports are unconfirmed, they will serve to increase confidence in the company’s future as there had been speculation that Monitise may be forced to close.

Therefore it is not surprising that brokers Canaccord Genuity are recommending buying Monitise shares and they have set a target price of 85p. However, investors remain unsure and on Wednesday 55.49% of Monitise shares traded were sold while 44.51% were bought.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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