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Small Cap Stocks: AFC Energy, United Oil & Gas, Feedback

Small Cap Stocks: AFC Energy, United Oil & Gas, Feedback

It’s been a difficult start to the week for the AIM All Share Index, underperforming the main board and sliding around two and a half points by 4pm to trade at 736.59. Given the potential political and economic fall out from tomorrow’s US election, it’s easy to understand why risk appetite might be in short supply.

  • AFC Energy +27%
  • United Oil & Gas +25%
  • Clean Power Hydrogen +23%
  • Feedback -45%
  • Seeing Machines -11%

With just over half an hour to run, AFC Energy LON:AFC was the day’s best performer. A full year trading update revealed slightly better than expected revenues and highlighted the benefit of government policy change in terms of the green energy transition. Shares were up 27% at our 4pm copy time.

United Oil & Gas LON:UOG was in second place, up 25%. Shares continue to extend last week’s gains following news that the company had exited its Egyptian venture. Volumes continue to grow as well – is a rerate underway?

Clean Power Hydrogen LON:CPH2 was also 24% ahead, with investors cheering both the settlement of a legal dispute and a new order. The two filings were issued this morning and whilst it’s difficult to define between the two for price impact, the customer endorsement when it comes to product was certainly notable.

Feedback LON:FDBK was the biggest faller, off 45% after the publication of full year results this morning and news of a funding round. Revenues were up but so were losses and with this eating into cash reserves the corporate action was as good as inevitable.

Looking beyond a handful of big microcap fallers, Seeing Machines LON:SEE was a notable faller, off 11% on the day. The company continues to extend losses seen in the wake of earnings news last week.

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