The upbeat start seen by equity markets at the start of the week is running out of steam and the AIM Index has been hit particularly hard, reaching the bell down by more than nine points at 786.15
- Mobilityone +131%
- 7Digital +67%
- Baron Oil +46%
- IOG -57%
- Verditek -42%
MobilityOne LON:MBO topped the board, adding an impressive 131% following an announcement this morning of a proposed joint venture with Super Apps Holdings, along with the disposal of its majority holding in OneShop Retail, which is set to realise around £11m over the next six months. Given the company’s market cap, it’s arguably the sale news that is driving much of the upside.
7Digital LON:7DIG was 67% ahead at the bell, helped along by news that it had signed a new contract with Pinterest. The contract enables Pinterest’s music library to include licensed commercial tracks, delivered by 7digital’s music-as-a-service platform. There are no financials disclosed but the deal will last for three years.
Baron Oil LON:BOIL gets the notable mention today, having added 46% by the bell. There’s no specific news out here but this seems to be a run on from yesterday’s gains, inspired by that news of a Production Sharing Contract being extended. With an investor presentation scheduled for next week, this could remain one to watch.
IOG LON:IOG was the day’s worst performer, off 57% in the wake of an operational update. There’s quite a lot of detail here but the key point is that production guidance for the second half of the year has been revised down significantly.
Verditek LON:VDTK slipped 42% off the back of a statement this morning that it was no longer the exclusive supplier of lightweight solar panels to Bradclad, a deal which had been announced back in the summer. With Bradclad now engaged with an alternative supplier, there’s no confidence that the additional orders which were expected will now materialise, either.
