Concerns over next steps in the Russia-Ukraine war have taken a toll on sentiment today, with the AIM All Share Index failing to escape the market’s wrath, trading just over four points lower at 3.30pm.
- Eco Buildings Group +19%
- IXICO +12%
- SkinBioTherapeutics +11%
- Electric Guitar -37%
- UK Oil & Gas -28%
Eco Buildings Group [LON:ECOB] was leading the pack at our earlier than usual copy time, trading some 19% ahead. This morning the modular housing company confirmed it had received a letter of intent from the Dominican Republic for the provision of 10,000 properties worth $237m. The note highlights that the product is up to 50% cheaper, two-thirds lighter, and five times faster to build than conventional homes, leaving ECOB’s technology uniquely positioned to address the Dominican Republic’s pressing social housing needs.
IXICO LON:IXI was 12% higher, extending Monday’s rally although there’s no news to justify the move. Shares had however sold off sharply earlier in the month so adding that in as context, the overall gain is limited.
- Small Cap Stocks: IXICO, Jersey Oil & Gas, Distil
- Small Cap Stocks: Helium One, Beowulf Mining, United Oil & Gas
SkinBioTherapeutics LON:SBTX gets the notable mention, up 11%. The company advised the market this morning that they had finalised the commercial terms of an agreement with Croda, with the expectation that the company will be cashflow positive from FY25. With management not expecting to need a further funding round, is the upside here too limited?
Electric Guitar LON:ELEG was the biggest faller, down 37% on the day, extending the recent run of losses for the stock. Significant volumes have been recorded in the stock, but there’s no formal news to account for the move.
- Small Cap Stocks: Ovoca Bio, Proton Motors, Enteq
- Small Cap Stocks: Image Scan, Electric Guitar, Chaarat Gold
UK Oil & Gas LON:UKOG was 28% lower, following placing news this morning. The company raised £500k at a 26% discount to last night’s closing price, in order fund a new hydrogen storage site in East Yorkshire in what it sees as a uniquely timed opportunity to secure this asset.
