Bumper gains for the AIM All Share index today after the Chancellor of the Exchequer decided not to call time on the IHT exemption and instead apply a lower level of tax. The index posted its biggest one day gain in over four years, adding 29 points to close at 744.61 although with estimates suggesting uncertainty here has taken 11% off the market in recent months, is there more to come?
- Microsalt +38%
- Proton Motor Power +34%
- Eckoh +25%
- CAP-XX -20%
- Shield Therapeutics -16%
Microsalt [LON:SALT] topped the board, trading 38% higher following news that a series of new and follow on orders had been received. This was mooted in an interview just over a week ago and the company tried to back-pedal but shareholders will be happy with the outcome.
Proton Motor Power LON:PPS also fared well, up 34%. That appears to be an extension of gains which got underway on Tuesday in the wake of news that a follow-on order had been placed by a subsidiary of Deutsche Bahn.
Eckoh LON:ECK gets the notable mention up 25% after news that management were supporting a takeover bid for the company was revealed. The deal has been in discussion for several months but with a 54p per share offer agreed, the bulk of this is now priced in.
- UK Stock Market News: GSK, DCC, Shield Therapeutics
- AIM Market Roundup: Craven House, Deltex Medical, MicroSalt
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CAP-XX LON:CPX was the biggest faller, down by 20%. The stock continues to give back gains from earlier in the week.
Shield Therapeutics LON:STX was 18% lower by the bell. Earnings news yesterday failed to provide any direction for the share price but investors appear to be weighing up the data here with the necessary financing round and funding cuts outweighing the revenue surge.
