London’s AIM Index has made a solid start to the week, advancing close on ten points by the bell. That’s in line with the FTSE-250 but has completely outstripped the blue chip index where gains for Sterling today have taken a toll.
- Appreciate Group +59%
- Versarien +25%
- Music Magpie +21%
- Joules Group -23%
- Intuitive Investments -20%
Appreciate Group LON:APP topped the board, adding 59% on the day. This morning the company announced that a buyout by PayPoint Group had been agreed, in a deal that values each Appreciate share at 44p. Shares are still trading slightly below that and irrevocable undertakings have been received from 23% of shareholders so far. This is the highest the share has traded in 18 months.
Versarien LON:VRS also had a good session, adding 25%. There’s no news here, trading was limited and the spread was close on 10%. Full year results are due on Wednesday.
Music Magpie LON:MMAG gets the notable mention, up 21%. A notification this morning saw Schroders declare its holding had increased from 7.8% to 10.1%, showing conviction in the company, whose shares have been somewhat beaten down of late following profit warnings.
Joules Group LON:JOUL was the day’s worst performer in the wake of a business update published this morning. Sales aren’t as impressive as had been hoped for and this is now squeezing cash reserves, leaving the shares to trade down 23% at the bell
Intuitive Investments LON:IIG also had a poor day although volumes were incredibly thin and this was played out in the size of the spread quoted at the close. Shares fell back by 20% and now sit more than 75% down from the all time highs hit in early 2021, shortly after the IPO
