A mixed bag of US earnings rattled sentiment for UK equities at the open on Thursday, although unlike the late session recovery seen by the FTSE-100, the AIM All Share refused to shake off its “funk”, heading towards the bell around 3 points lower at 769.91.
- Haydale Graphene +31%
- Marechale Capital +29%
- Getech Group +26%
- ValiRx -47%
- Anglesey Mining -35%
Haydale Graphene LON:HAYD was the biggest riser, adding 31% after the company this morning announced the expansion of a graphene-enhanced heat-transfer fluid, addressing heat dissipation – one of the most critical physical constraints on modern computing. Whilst the project is not expected to generate immediate commercial revenues, management note that they represent the next phase in the disciplined commercialisation of the company’s technology.
Marechale Capital LON:MAC was 29% higher, making it the second biggest riser at our slightly early copy time. There’s no news out and the gains are only just fractionally larger than the spread, although the day has been denoted by a small number of lumpy orders, with volumes set to be well ahead of typical levels.
Getech Group LON:GTC takes the notable mention, adding 26%. The company posted an update this morning advising of twelve contract wins and the majority of the income – £300k – will be recognised in the current financial year. The move adds almost 10% to the company’s current order book.
ValiRx LON:VAL was the biggest faller, off 47% following fundraising news. The capital raised will be used primarily to expand the evaluation pipeline whilst also progressing existing works. The funds were raised at a 45.7% discount and collectively directors contributed £100k.
Anglesey Mining LON:AYM was the second biggest faller, off 35%. A general meeting held earlier today failed to see resolutions passed, with the result that the planned capital reorganisation will not take place. That presents material uncertainty over the future of the business and the directors are now urgently pursuing other financing options. Failure here could result in the business going into administration.
