Rising UK borrowing costs and little prospect of further monetary policy easing have been weighing on stocks, with the AIM all share index reversing yesterday’s gains and finishing the session down almost four points at 725.16.
- Team Internet +30%
- Verici +29%
- Poolbeg Pharma +15%
- Tungsten West -24%
- Global Petroleum -24%
Team Internet [LON:TIG] was topping the board, up by 30% following news this morning that it had received two competing all cash offer for the business. Both were set at 125p, with the stock closing at 118p. The board is currently evaluating the offers.
- Small Cap Stocks: Aquis, Gfinity, Team Internet
- TIG delivers strong results: revenue, profit, shares up
Verici LON:VRCI was 29% higher on the day, with no formal news in play and elevated volumes but also a significantly wide spread of 20% being quoted. Is something afoot?
Poolbeg Pharma LON:POLB gets the notable mention, up 15%. That follows an update on the company’s planned merger with US-listed HOOKIPA, with the move higher today arguably better reflecting the value of the acquisition.
Tungsten West LON:TUN was the biggest faller, off by 24%. The stock had a good run over the new year, straddling the publication of full year results and pushing out to highs not seen since last syummer so today’s move could just be attributed to profit taking.
- Small Cap Stocks: musicMagpie, Emmerson, Arkle Resources
- Small Cap Stocks: Chariot O&G, Sancus Lending, Jade Road
Global Petroleum LON:GBP was also struggling, trading some 24% lower at the close following this morning’s news of fund raising. The sell off here reflects the discount offered on the newly issued stock.
