London’s AIM All Share Index notched seven consecutive sessions of gains but Monday saw the up trend pause for breath, with the junior market easing by around three points to reach 787.34 at the bell.
- Mediazest +67%
- T42 IOT +38%
- Acuity RM +19%
- Active Energy -44%
- Petrel Resources -26%
MediaZest LON:MDZ charged higher off the back of its latest trading update this morning. A string of new contract wins and upbeat comments regarding momentum were sufficient to boost the share price back to levels not seen in more than two years, with the stock up 67% approaching the bell.
T42 IOT [LON:T42] also fared well, adding 38% on the day. Mid-session the company announced it had entered into a long term agreement set to be worth $4.5m over the next three years.
- Small Cap Stocks: Guardian Metal, MediaZest, Enwell
- Small Cap Stocks: Armadale Capital, Petrel Resources, Hummingbird Resources
- Small Cap Stocks: Energypathways, Global Petroleum, RBG
Active Energy LON:AEG was the worst performer with shares off 44% by copy time. The company is exploring a range of strategic options but is struggling to find a way ahead and cautioned in a note this morning that failure to find a resolution could lead to a liquidation. Also given the constrained cash position, the FY23 audit may not be completed on time which in turn would lead to a suspension of the company’s stock at the end of next month.
Petrel Resources LON:PET slipped 26% by the time of writing. There’s still no news out on the stock but the impressive gains posted last week have now been largely eroded.
Acuity RM [LON:ACRM] gets the notable mention, up 19% on the day. Once again it’s news of a contract win that is buoying sentiment with the three year deal set to be worth more than £500k, all of which is payable in the current financial year.
