The AIM Index once again tested territory above the 1200 level early this morning but gains proved difficult to sustain, with the index sitting just over two points lower by 1.30pm at 1197.42.
- Cloudcall +70%
- Blue Star Capital +20%
- Victorian Plumbing -41%
- Active Energy -40%
Cloudcall Group [LON:CALL] found itself at the top of the board, up almost 70% after agreeing to an acquisition by US based Xplorer Capital. The software and integrated communications business had seen its share price slide throughout the year, so even at the agreed level, there may be some push back from investors that this has gone too cheaply.
Blue Star Capital LON:BLU landed up in second place at 1.30pm, sitting some 20% ahead. There’s no news out to support these gains, but the move higher helps recover those highs seen at the start of November. One to watch.
Victorian Plumbing LON:VIC was the morning’s worst performer, off 41% at the time of writing. The company published full year results today and whilst sales have been sustained from last year, there’s concern over the short-term outlook and also the fact that margins may need to be squeezed to bolster growth. However, the fundamentals of the company – home improvements and a solid online channel – could leave some asking whether the sell-off has been overdone.
Active Energy LON:AEG slipped today, shedding 40% in the wake of a funding round. The move reflects the discounted offer price, with the exaggerated spread arguably weighing further on the stock.
