The start of the new week may have ended up as a slightly choppy session for the AIM Index, but despite a lack of data, gains were sustained throughout the day, leaving the junior market to finish up a little over three points higher at 859.38
- Intercede Group +24%
- Getech Group +23%
- Fiinu +22%
- City of London Group -49%
- Midatech Pharma -25%
A trading update this morning helped push Intercede Group [LON:IGP] to the top of the board, with the company noting that sustained momentum since the publication of H1 results in November would push full year results well ahead of forecasts. Shares sat 24% higher by the closing bell.
Getech [LON:GTC] was a close run second today, adding just under 23% by the bell. Again a trading update this morning highlighted continuous growth for the business, with revenues ahead of expectations. The company has a strong cash position and management have noted they have no current plans to raise further capital. The company – involved in energy transition – sees a strong outlook given the macroeconomic climate.
Fiinu [LON:BANK] gets the notable mention, with a series of lumpy buys helping drive the stock up 22% and off its recent lows. There’s no news here – at least not for now – but could a big partnership deal for the payday loan alternate be looming?
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City of London Group [LON:CIN] was the day’s biggest faller, off some 49%. This was the latest leg lower for the stock which is suffering from very thin trade as investors seemingly are ready to accept that Wednesday’s general meeting will see the company delisting.
Midatech Pharma [LON:MTPH] slipped 25% on the day, following a general meeting which saw ordinary resolutions passed by shareholders, whilst they simultaneously pushed back against other initiatives. That means a planned acquisition and name change won’t take place, and with financing running low, management have appointed advisers to undertake the necessary contingency planning.