London’s AIM Index found some modest support during Wednesday’s session, advancing by a couple of points but investors appear to be sitting on their hands ahead of tonight’s speech from Fed chief Jerome Powell. Any signs that time is being called on the rate hike agenda are likely to be well received. At the bell the junior board was up a just over two points at 846.55.
- Parsley Box +73%
- Windar Photonics +34%
- Evgen Pharma +17%
- Strix Group -37%
- Borders & Southern -37%
Parsley Box LON:MEAL was the day’s biggest riser, up 73% at the bell. The company remains on course to delist but commitments have been made to buy up stock by connected parties. Shares have reverted to highs not seen in a month off the back of today’s buying but with suggestions that the equivalent of half of the issued shares have changed hands today, on a 10% spread it’s the market makers who stand to win here…
Windar Photonics LON:WPHO share price continues its march higher following the stock’s relisting at the start of the week. Today saw a further 34% added although the valuation remains well below that seen before trading was suspended. Last night’s confirmation that directors had committed to the stock as earlier noted is arguably helping cement gains here.
Evgen Pharma LON:EVG gets the notable mention, up 17%. There’s no fresh news out and the stock does have form for making big moves off the back of limited stock availability. Is there news incoming or is this a case of the market simply playing catch up?
Strix Group LON:KETL was the biggest faller, off 37% at the close. This morning the company provided a trading update and confirmed the completion of an acquisition, but it was the former that attracted the most interest. Lockdowns in China and geopolitical uncertainty across a number of its export markets means that full year profit expectations have been dialled down.
Borders and Southern LON:BOR share price was 37% lower at the bell, coming off the back of news that a £2.5m fundraise has been completed. Critically, the downside here is less than the discount at which the company’s new shares were offered, suggesting there’s confidence in the route being followed by the company, with shares still well up on last year’s levels.