It’s been a down day for equity markets globally, with the AIM All Share being caught in the gloom too. Losses have however been modest, with the index down two points by 2pm at 761.97.
- Seascape Energy +27%
- Earnz +23%
- Directa Plus +21%
- RC Fornax -50%
- Proteome Sciences -14%
Seascape Energy [LON:SEA] was the biggest riser on the day, up 27% by copy time off the back of this morning’s news that a wholly owned subsidiary had been awarded a Small Field Asset Production Sharing Contract off the coast of Malaysia. This is in shallow water which ought to keep costs low, and will use an unmanned platform.
Earnz [LON:EARN] was in second place, up 23%. Shares advanced last week off the back of placing news which was undertaken at a premium. There’s no further news out and the spread is almost equivalent to the gain but confidence does seem to be in decent supply.
Directa Plus LON:DCTA gets the notable mention, up 21%. Recent director deals seem to be bolstering support for the stock.
RC Fornax [LON:RCFX] was the biggest faller, off 50% following a trading update release this morning which left many investors asking questions over the outlook. Mismanagement of the sales pipeline means conversion rates have been overestimated, whilst customer caution is also seeing projects delayed. Full year profit forecasts have been trimmed significantly.
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Proteome Sciences LON:PRM was 14% lower but there’s no news here, the sell off is within the spread and that’s all off the back of very limited order flow. An order book imbalance would seem to be the likely issue here.
