The modest support London’s AIM index has picked up over the last few sessions failed to be sustained during Wednesday’s trade as the benchmark slipped back below the 900 line, sitting down almost 13 points by 4.30pm at 894.4
- Strategic Minerals +27%
- Deltic Engineering +20%
- Shoe Zone +13%
- SIMEC Atlantis -44%
- Windar Photonics -44%
Strategic Minerals [LON:SML] added 27% by the close off the back of a news release that it had received approval for planned mining activity. Gains here do however need to be put in the context of the 33% closing spread and the £7m market cap of the company.
Deltic Engineering [LON:DELT] also had a good day, adding 20% in the wake of rig contract news being awarded from Shell. Transactions were however limited and the quoted closing spread was in excess of 7%. This may be worth watching play out in the coming days.
Shoe Zone [LON:SHOE] gets the notable mention after a trading update was published this morning. The stock closed 13% higher off the back of strong margin improvement and cost savings, with rent reductions being particularly notable.
SIMEC Atlantis [LON:SAE] slipped 44% on the day after full year results were published, sending shares down to three month lows. The 9% spread underlines that opinions seem divided on this stock’s outlook, although management are attempting to paint a picture of most of the recent challenges having been overcome.
Windar Photonics [LON:WPHO] was also 44% lower at the bell, after the company advised this morning that it wouldn’t be in a position to publish full year results by tomorrow’s filing deadline. As a result, stocks will be suspended from Friday and current expectations are that once audited, results will show a 50% slump in revenues. The outlook also illustrates a slew of challenging headwinds.
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