London’s AIM Index has had a lacklustre start to the week, although downside pressure has arguably alleviated by the weakening pound. At the bell, the index sat just over three points lower at 883.61.
- Cornerstone FS +73%
- Kibo Energy +26%
- Nanosynth +20%
- MPAC Group -34%
- Joules -25%
Cornerstone LON:CSFS is back on our radar, today as the biggest gainer up 73%. The stock was hit heavily off the back of full year results released just over a week ago, but interims published this morning appear to have provided some cause for cheer. The funding still only seems to run until the year end, but revenue growth remains upbeat.
Kibo Energy LON:KIBO sits in second place, up a rather more modest 26%. There’s no news but last week’s energy storage announcement failed to deliver much of a response so that may finally have caught the eye of investors. However, given the limited orders and the wide spread, it’s difficult to read too much into this.
Nanosynth LON:NNN gets the notable mention today, advancing 20%. The company had a strong run last week before profit takers moved in, but now the upward momentum is in evidence once more. A PMDR notification of directors buying stock this morning likely galvanised some support here.
MPAC Group LON:MPAC issued a trading update this morning, consigning the stock to the foot of the board by the close. In short the company has cautioned that supply headwinds will translate into full year profits being significantly below market expectations. The shares have tumbled as a result, sitting some 34% lower at the bell.
Joules LON:JOUL also had a gruelling day following weekend media revealing that the company had appointed debt experts to help try and navigate the company from its current position. There’s sufficient headroom available in the short term, but long term success appears reliant on many factors coming right. Shares were down 25% at the bell.
