The AIM All Share index made further gains on Wednesday, making for an eighth successive up-day although with the Fed’s rate call looming, there could well be fireworks in the near term.
- Empresaria +40%
- Caledonian +38%
- CT Automotive +36%
- Ocean Harvest -76%
- Tomco Energy -14%
Empresaria LON:EMR was the biggest gainer on the day, up 40% following news from the company this morning that a buyout proposal had been tabled. However this isn’t a straight all cash offer and management are pushing back, saying that the bid undervalues the business.
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Caledonian Holdings [LON:CHP] was 38% higher. The stock has been through a volatile phase of late, ranging 100% in the latter part of April and was quoting a closing spread of 25% tonight on low volumes. Limited liquidity seems to be an issue here.
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CT Automotive LON:CTA gets the notable mention, up 36% following the publication of full year results. This included a 600 basis point improvement in gross margins, driving a 5% uptick in profits despite the pent up post-COVID demand spike abating.
Ocean Harvest Technology [LON:OHT] was the biggest faller, off 76% following this morning’s missive from directors, heralding strong revenue growth but also noting the need for more funding in the coming weeks.
Tomco Energy LON:TOM was 14% lower but with a market cap of less than £2m and very limited orders there’s not much to see here. The stock gave back some of the gains from the last couple of weeks and today’s selling needs to be in the context of that 50% rally and the very wide spread.
