London’s AIM All Share was inching higher after this morning’s trade with the index sitting around one point higher at midday.
- Kinovo +21%
- Revolution Bars +14%
- Surface Transforms -63%
- Argentex -21%
A trading update from Kinovo LON:KINO saw stock in the company rise 21% in early trade, helped along by an upgrade to full year EBITDA expectations.
Revolution Bars LON:RBG had a decent morning, jumping 14% off the back of the company confirming it was in talks with fellow bar operator Nightcap over a possible acquisition. Revolution’s stock remains well down on the year to date however as the company bears the brunt of rising costs and people partying less.
Surface Transforms LON:SCE took something of a beating during Thursday’s trade, but this was the result of a deeply discounted funding round which completed this morning. New shares were offered at a 66% discount and at midday the stock was sitting some 63% lower. There is however a big customer pipeline in place – the offer may have been distressed, but does it actually show the sheer flexibility of capital markets?
Argentex LON:AGFX was also struggling at midday, off 21% in the wake of a trading update and funding news. Financials showed margin reduction as taking a hit on performance, resulting in a significant trimming of dividends.
