The AIM All Share made a decent attempt at holding its ground in positive territory but ahead of the US open sentiment faltered. With concern building that further US rate cuts are looking less likely, sentiment for stocks globally is souring – although the FTSE-100 is still above the line. At 330pm the junior index was off by almost a point at 726.32.
- Guardian Metal Resources +21%
- MediaZest +13%
- ValiRx +13%
- Enwell Energy -37%
- Celadon Pharmaceuticals -36%
Guardian Metal Resources [LON:GMET] was the best performer, up 21% on the day at our early copy time. The company issued a shareholder update this morning on its Tungsten interests, drawing attention to the fact that the Chinese government plans tighter export control on this – and other – metals.
MediaZest LON:MDZ was 13% higher at the cut following news this morning that the pilot phase of a project to display currency prices in post offices had now completed and this may pave the way for a larger scale roll out. There’s a lot of tentative language in the note, volumes were limited and the spread now accounts for the bulk of the uptick but one to watch.
- Small Cap Stocks: Chariot O&G, Sancus Lending, Jade Road
- Small Cap Stocks: MediaZest, T42 IoT, Active Energy, Petrel Resources
ValiRx LON:VAL gets the notable mention, again up 13% having announced to the market this morning its first sale in a new product line. Again however the headline move in the share price needs some caution as this is within the quoted spread at the time of writing.
- Small Cap Stocks: Valirx, EnergyPathways, Merit Group
- Small Cap Stocks: Powerhouse Energy, T42, ADVFN, ValiRx, Distil
Enwell Energy LON:ENW was the laggard at copy time, off 37%. The oil and gas exploration company noted this morning that a series of licenses in Ukraine have been suspended owing to issues with the ultimate beneficial owners of the sites and government sanctions. Enwell is seeking legal advice on the matter.
Celadon Pharmaceuticals LON:CEL was down 36% following an update on the company’s financial position. The business is working through some late payments and also negotiating drawing from an agreed credit facility. Having advised in the interim results that they had enough cash to run to the year end, this has now been updated but only by a month. Investors were evidently hoping for more…
