London’s AIM All Share index posted a fourth consecutive day of gains as markets globally continued to cheer what looks like a change of tack from the US in its trade war. The index added a further six points today, closing at 665.16.
- Caledonian Holdings +33%
- Deltic Energy +25%
- Kooth +16%
- Jarvis Securities -58%
- Billington -23%
Caledonian Holdings [LON:CHP] added 33% on the day. That comes after the company – formerly Vela Technologies went through a refinancing with the new stock arriving on the market yesterday.
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Deltic Energy LON:DELT was in second place, up 25%. That move comes off the back of an update by the company on its Selene gas project which saw highlights including reserve estimates increased by one third.
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Kooth LON:KOO was 16% higher to take the notable mention after the company published full year results. Revenues were up 100% and management see continued growth prospects in the US.
Jarvis Securities LON:JIM was the biggest faller, off 58% after the company announced late in the session that it had sold its brokerage services to Interactive Investor, itself part of Aberdeen LON:ABDN. The sale generated proceeds of £11m which will be used for general working capital purposes although surplus may be returned to shareholders. Whilst next steps are to be finalised, the company could end up as a cash shell.
Billington LON:BILN was down 23% on the day following full year results. Revenues fell almost 15% whilst pre-tax profits were almost 20% lower. Management noted a challenging trading backdrop and despite recommending a 25% uptick in dividend, investors were more focused on the outlook where reduced industrial demand continues to weigh.
