London’s AIM index closed down just over 7 points lower at 1278.42, marking its sixth consecutive decline and tracking the main board lower.
- Itaconix +29%
- Zytronic +20%
- Kropz -18%
- Staffline Group -16%
- Image Scan +10%
Itaconix [LON:ITX] added 29%, making it the day’s best performer. There’s been no news since that sales update at the end of last week, but traded volumes have definitely been exaggerated today and the stock has now recovered its losses triggered by a trading update back at the end of July.
Zytronic [LON:ZYT] also fared well, tacking on 20% by the bell. A trading update published this morning noted a faster than expected return to profitability for the company and a reversal of losses accrued in H1. Full year profits are expected to be above market forecasts.
Kropz [LON:KRPZ] was the worst performer, back on our radar and shedding some 18%. Shares jumped meaningfully higher last week in the wake of an update on legal proceedings the company was facing, but these gains have evidently proved difficult to sustain.
Staffline Group [LON:STAF] was also left struggling, shedding 16%. Shares had been climbing steadily since the release of a trading update at the end of July, with the valuation not far off doubling. Today’s release of first half results appears to have checked the rally, but there’s no bad news here – it’s appears to be a case of profit taking from those who have ridden the rally
A notable mention for Image Scan [LON:IGE], which added a further 10% during Tuesday’s session. The stock made sound progress yesterday off the back of sales news and a profit upgrade – the fact these gains have now been locked in is a boon.