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Home » UK Shares » AIM Risers and Fallers » AIM round-up: Plutus Power, Sareum Holdings, M&C Saatchi

London’s AIM index put in a reasonably strong start but failed to extend those gains during the session, settling up around three points at 1259.74 by the bell.

  • Plutus Power up 18%
  • Sareum Holdings up 17%
  • M&C Saatchi up 14%
  • Catenae Innovation down 20%
  • Sound Energy down 14%

Plutus Power [LON:PPG] was at the top of the board by 4.30pm, having added 18%. There’s no news out to support the move, but the gains need to be taken in the context of this being a £2m market cap company and there’s a spread in excess of 16% being quoted on the stock.

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Sareum Holdings [LON:SAR] put in a solid start to the shortened trading week, adding 17% off the back of news that it had secured a £900,000 investment from an investor to take two proprietary programs through to the final stages of pre-clinical development. The shares were sold at a premium to Friday’s closing price and perhaps unsurprisingly this level of commitment has given investors something to cheer.

M&C Saatchi [LON:SAA] gets a notable mention today, with shares up around 14% off the back of a trading statement. This highlighted a stronger than expected four month period of business, leading management note that full year numbers ought to be above expectations. There’s no detail of the quantum of gains expected, but a series of high profile names are noted as being new clients for the ad agency.

Catenae Innovation [LON:CTEA] slumped 20%, extending the downward trend which has been in play for the last three months. Earlier in the year, gains had been seen for the company, arguably off the back of a belief they could play a key role in a government backed COVID passport app. It seems clear that’s not a route Westminster wants to pursue, but the share price is now testing fresh 12 month lows. The £4m market cap and 7% spread don’t help here, either.

Sound Energy [LON:SOU] had a bruising session today, dropping 14% off the back of a tax assessment from the Moroccan authorities. Additional corporate and value-add tax liabilities have been highlighted, something which Sound is set to dispute. As the note also states, since 2015, Sound Energy and its partners have invested over $140m and are still to realise any production revenue or capital gain. Progress here will be closely watched – the company has just over three weeks to make a formal appeal – but over $20m has been added to the tax bill

This article is not investment advice. Investors should do their own research or consult a professional advisor.

Tony Cross

Tony Cross

Tony Cross is a market commentator with over 15 years of experience, producing compelling, insightful copy for journalists and investors alike. Focusing on macroeconomics, UK blue chip equities and inter market analysis, Cross's commentary is well regarded for its clarity and ability to cut through the waffle. He has been quoted in publications as diverse as The Financial Times, The Times, The Guardian and The Sun. He has also been a regular guest on both Share Radio and TipTV.

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