Despite an encouraging start to the session, London’s AIM All Share failed to cling onto modest gains with a soft start to trade on Wall Street further damaging sentiment. The index rounded out the day more than three points lower at 725.69.
- Armadale Capital +78%
- Deltic Energy +53%
- Silver Bullet Data Services +14%
- Kooth -21%
- Mirriad Advertising -20%
Armadale Capital LON:ACP was the biggest gainer, up 78% on the day. Early last week the company proposed a delisting which initiated some heavy selling in the stock, but at least investors have been getting stuck in today.
Deltic Energy LON:DELT was in second place, up 53%. An operational update earlier in the week generated a modest uptick in volumes but had no meaningful impact on the share price. However renewed interest today appears to have delivered some cut through – but is it just speculative?
Silver Bullet Data Services LON:SBDS gets the notable mention, up 14% on the back of earnings news. A trading update advised of a record performance last month and the securing of a new working capital facility. Certainly a lot of optimism from management here as the stock continues to pull away from lows for the year.
Kooth LON:KOO was the biggest faller, off 21%. There’s no formal news release but a story has been published regarding the company’s attempts to extend a contract with public authorities in California. There’s potentially some read across risk here that should the company be seen as having acted inappropriately then could the underlying four year contract be placed in jeopardy?
Mirriad Advertising LON:MIRI makes the list yet again with a 20% fall. The only news here is the routine change in auditor but at least some investors seem to be concluding that there’s no smoke without fire – despite the outgoing auditor’s assertion that there’s nothing untoward.
