London’s AIM Index finished well into the Red on Tuesday and there can be little doubting that the Fed’s aggressive stance over how far monetary policy tightening may go was the driver here. The index, having spent the bulk of the day near unchanged, finished around five points lower at 860.06.
- Marechale Capital +16%
- Metal Tiger +16%
- In The Style -79%
- Calnex Solutions -32%
Marechale Capital LON:MAC was the most meaningful move on the junior board today, adding 16% by the close. There was limited trade in the stock, but the company does have exposure to the insolvency market.
In The Style LON:ITS was the day’s biggest casualty, off 79% at the close. The company this morning published a strategic review, which concluded that a trade sale was the best solution, although this could look oversold given the market cap and the size of the offer.
- AIM Market Roundup: Marechale, Oxford Biodynamics, SDX Energy
- Small Cap Stocks: Powerhouse Energy, Zenova, Polarean Imaging
Calnex Solutions LON:CLX retreated 32% on the day, having issued a trading update this morning. It was the longer term outlook that appears to have taken a toll here, with caution over the 2024 outlook weighing.
Metal Tiger LON:MTR gets the notable mention, up 16% at the close of play. The stock has had a bruising few days so there’s really not much to observe here other than perhaps this being some opportunistic bargain hunting.
