London’s AIM Index slipped further during Wednesday’s trade, shedding around six points by the bell to close at 925.62. Sentiment is softening in the US ahead of the Federal Reserve meeting minutes and this seems to be weighing closer to home, too.
- Tanfield Group +40%
- Rua Life Sciences +18%
- Revolution Beauty +14%
- Mysale Group -26%
- Gooch & Housego -21%
Tanfield Group LON:TAN topped the board, adding 40% by the close. However as we’ve seen with this stock before it’s very thinly traded and with only a limited number of small transactions going through today, there’s nothing material behind the gains.
Rua Life Sciences LON:RUA added 18% but again there was limited trade in the £10m market cap stock. There was however an upbeat trading statement released ahead of Tuesday’s AGM which may be galvanising support for the stock.
A notable mention for Revolution Beauty LON:REVB which has been flagged here as a big faller on more than one occasion of late. The company this morning announced that boohoo had taken a 7% strategic stake and with Revolution’s share price so beaten down of late, this could well prove to be an astute move given boohoo distributes the cosmetics too.
Mysale LON:MYSL found itself as the day’s worst performer after its biggest shareholder, Frasers Group, announced that it was tabling an offer of 2p per share for the business. Given the stock closed at 2.69p per share on Tuesday night, the sell-off reflects the discount here and presumably an acknowledgement from investors that the deal is likely to succeed at this price.
Gooch & Housego LON:GHH was off 21% by the bell following its trading update this morning. Despite. A growing order book, the company has been constrained by labour shortages and supply chain disruption. As a result, pre tax profits for the full year are being dialled down by around £3.5m, although a more optimistic picture is painted for FY23 where double digit volume growth is expected.
