Around 3pm and London’s ISM index is sitting eight points down on the day, off session lows but joining global markets in something of a rout, finding itself at 944.70.
- Knights Group +45%
- Great Western Mining +19%
- Begbies Traynor +9%
- Argos Resources -18%
- Sensyne Heath -18%
Knights Group LON:KGH is sitting at the top of the board, up 31% following news that it has acquired a law firm in what the market is evidently seeing as a good deal. The move is expected to be immediately earnings enhancing and will deliver a pre-tax profit margin of 16% after integration.
Great Western Mining LON:GWMO advanced 21% off the back of a market update this morning. The company announced the start of its 2022 mining campaign and that was sufficient to send the share higher in admittedly lumpy trade.
A notable mention for Begbies Traynor LON:BEG, the insolvency specialists who perhaps inevitably stand to benefit off recession fears. That, along with the improved position off the back of acquisitions was reinforced in this morning’s year-end trading update, leaving shares 9% higher approaching the close.
Argos Resources LON:ARG was the day’s laggard at copy time, off some 18% . Trade in the £5m market cap company was however rather limited and the loss was within the spread being quoted heading towards the close. Nothing to see here for now?
Sensyne Health [LON:SENS] has also been under pressure today, shedding 18% with last night’s AGM notice evidently weighing on sentiment. There appears to be a risk that investors are left trapped between a proverbial rock and a hard place here, but there’s no denying this stock has had a gruelling year to date…
