London’s AIM All Share index has had a modest bump heading into the close with the prospect of a Fed rate cut just after the summer providing some cause for cheer. The index reached the bell just over two points ahead at 792.07.
- Clontarf Energy +49%
- UK Oil & Gas +24%
- 4Global +11%
- Braveheart -43%
- Valirx -38%
Clontarf Energy LON:CLON has topped the board, adding 49% on the day after the company published an update on its Bolivian Lithium mine. The location offers a potential significant supply of Lithium and the news today is just one step in the five stage bidding process but it’s been sufficient to cheer investors.
UK Oil & Gas LON:UKOG was in second place, 24% ahead approaching the bell. Trade has however been relatively light and the move is just within the spread being quoted.
4Global LON:4GBL gets the notable mention, up 11% on the day. A trading update out this morning noting higher revenues from higher margin sales have served to drive adjusted EBITDA to a level that is expected to exceed market expectations. Management add that they are confident the year ahead will see further revenue and margin growth.
- Small Cap Stocks: UKRProduct, Braveheart, Microlise
- Small Cap Stocks: Valirx, EnergyPathways, Merit Group
- Small Cap Stocks: UK Oil & Gas, Jaywing, Orcadian Energy, Hermes Pacific
Braveheart LON:BRH was down 43% on the day, propping up the board. That came after a revaluation of portfolio assets, which saw two holdings written down to zero. The move is being pitched as prudent, but the portfolio which was valued at £9.46m is now worth just £1.75m.
Valirx LON:VAL also struggled, down 38% on the day in the wake of its full year numbers. This included a line noting material uncertainty in terms of the company as a going concern, meaning that further funding rounds will be necessary for trading to continue.