After a run of steady declines, London’s AIM All Share is finding some support at midday on Wednesday, despite that hotter than expected UK inflation print and wariness over the imminent FOMC rate call. At 12pm the index was holding around half a point higher at 722.47.
- Active Energy +355%
- Hardide +29%
- Zephyr Energy +13%
- Shoe Zone -42%
- Botswana Diamonds -26%
Active Energy LON:AEG was the morning’s biggest riser by a long stretch after the company managed to file audited accounts and get its listing reinstated. However it’s worth noting that the stock was as good as worthless during the suspension so the upside is all relative – even with the 355% gain, the market cap is still below half a million pounds.
- Small Cap Stocks: Simec Atlantis, Active Energy, Indus Gas
- Small Cap Stocks: Polarean, Kropz, Active Energy, YouGov
Hardide LON:HDD was in second place at copy time up 29% after the company announced a new aerospace supply agreement this morning. The 10 year deal is for a major customer and involves the coating on cargo door components, with the contract being worth £6-8m over its lifetime.
- SmallCap Stocks: Active Energy, Hardide, Harland & Wolff
- Small Cap Stocks: Sondrel, Shuka Minerals, Verditek
Zephyr Energy LON:ZPHR gets the notable mention, up 13% on the day. The company issued an update this morning regarding funding and operations at its flagship project in Utah. A US-based industry investor will provide $7.5m to cover drilling costs with money due to be paid by the year end. No debt or equity is changing hands.
Shoe Zone LON:SHOE was at the foot of the table, taking a pummelling after this morning’s trading update. Unseasonal weather combined with weak consumer confidence has taken a toll, whilst rising employment costs off the back of the recent budget will see store closures, too. Profit forecasts have been cut in half and the dividend is suspended.
Botswana Diamonds LON:BOD is down 26% in the wake of its publication of annual results. The theme here was one of a challenging backdrop but falling interest rates appeared to be filtering through to price rises. Factory grown diamonds remain a key disruptive threat however and investors were evidently keen to take a downbeat view here. Shares are trading close to record lows.
