Strong wage growth data released this morning is scuppering hopes of another Bank of England rate cut which in turn is weighing on stocks in London. The AIM All Share index was almost six points lower by late morning, trading at 723.45.
- Hummingbird +33%
- LPA Group +32%
- Abingdon Health +10%
- Cadence Minerals -40%
- Blue Star Capital -25%
At our earlier than usual copy time, Hummingbird LON:HUM was the day’s best performer, trading up by 33%. After the close last night, Nioko Resources tabled an offer of 2.677p per share which management have recommended.
- Small Cap Stocks: RBG, Hummingbird, Loungers
- Small Cap Stocks: Caledonian Trust, Quadrise, Hummingbird
LPA Group LON:LPA was in second place, up 32% following the announcement of three project awards in the export rail market, for a total combined value of £4m. The contracts are with well known companies including divisions of Siemens and SNCF.
Abingdon Health LON:ABDX gets the notable mention, up 10%. The company published two updates this morning including news of a new lab opening in Doncaster and a contract win with a US company worth US$2m over the course of 2025 for STI testing. This market is set to see significant growth over the next decade and could be worth $145bn by the end of 2035.
Cadence Minerals LON:KDNC was 40% lower by late morning. An update this morning included a letter of intent to acquire stakes in mining projects, but also news of a funding round with news equity being issued at 1.5p per share. The price fall reflects this, although with shares currently trading at 1.62p, investors are seeing some value in the development.
Blue Star Capital LON:BLU was in second to last place, down 25% at the time of writing. The company announced plans for a capital reorganisation this morning as well as a funding round. Trade in the stock has been limited however and the move is well within the currently quoted spread.
