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Market report: Parallel Pictures debuts today on the junior Alternative Investment Market

PARALLEL PICTURES, an independent film maker based in the legendary Ealing Studios, debuts today on the junior Alternative Investment Market. Shares will be introduced to the screens at 32p, giving the company a market value of around pounds 4.5m.

The title of Parallel's first major movie is unlikely to endear it to fund managers: the pounds 6m tale of Victorian love featuring Full Monty star Robert Carlyle is Poor Things.

MMS PETROLEUM, the Dublin-based oil exploration company, rose 1p to 23.5p amid rumours that a predator is circling the AIM-listed outfit.

The stock has been trading below net asset value for some time and speculation is growing that a medium-sized oil company is keen to get its hands on MMS's contracts in Bulgaria and Romania. Hopes of a deal were boosted by the news that the specialist oil investor, Paul Curtis, raised his stake to 7.2 per cent.