London’s AIM market made a good start to the day but stumbled as US markets absorbed the Fed’s update on inflation. That pushed the all-share into reverse, leaving the index to close down just over one point lower at 723.4.
- Gelion +23%
- Surgical Innovations +18%
- Deltex Medical +15%
- The Revel Collective -29%
- Cleantech Lithium -16%
Gelion LON:GELN was the biggest riser, adding 23% after the company issued an update on its technology’s viability for solid state batteries. The news drove a meaningful uptick in volumes, despite this being a fairly early stage development in the process. The gains, whilst impressive, also only make a small impression against recent losses.
Surgical Innovations LON:SUN was 18% higher off the back of a full year trading update, which highlights that full year revenues will be broadly in line with expectations, whilst adjusted EBITDA is set to come in slightly higher.
Deltex Medical LON:DEMG takes the notable mention with today’s news from the general meeting acting as a catalyst here. The company gained shareholder agreement to move ahead with its cancellation, but volumes were thin, the spread is wide and further volatility would be expected over the next week prior to the migration onto JP Jenkins.
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The Revel Collective [LON:TRC] was down 29% with the bar operator’s slide continuing. There’s no news out from the business but with the UK economic outlook remaining lacklustre and the threat of more tax hikes circulating, there’s really not much cause for cheer here.
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Cleantech Lithium LON:CTL was in second to last place, down 16%. There was a fundraise which closed yesterday but this came with some associated warrants and there may have been a lag in factoring these in – potentially a reminder that market inefficiencies do still exist?
