It was another down day for the AIM All Share with the imminent budget news no doubt acting as an overhang with an inability to find any cheer from the more upbeat performance seen on the main board. The junior index finished the day just over two points lower at 734.6, making for fresh year to date lows.
- musicMagpie +50%
- Emmerson +27%
- Tavistock Investments +19%
- Arkle Resources -20%
- Tungsten West -17%
musicMagpie LON:MMAG was the best performer by a considerable margin today, adding 50% in the wake of news that AO World LON:AO. had agreed a takeover bid for the company. That was tabled at a 58% premium to last night’s closing price and with more than 40% of investors committed to the deal, this seems likely to complete.
- Three Quick Facts: JD Sports, AO World, Shepherd Neame
- Three Quick Facts: MusicMagpie, Tasty, Nightcap
Emmerson LON:EML was 27% ahead, extending the gains seen last week off the back of interim results and a Q3 update. The share price has close on doubled in recent days and interest was sharply elevated again today. The closing spread was around 10% but is news inmmient?
Tavistock Investments LON:TAVI is back on the list, taking the notable mention after today’s 19% gain. News that the Chief Exec had invested around £30k in the business was released mid-morning and that appears to have delivered further cheer following yesterday’s disposal news.
Arkle Resources LON:ARK was the biggest faller, off 20%. However this is a £1m stock and the spread comprehensively eclipses the day’s losses.
- AIM Market Roundup: Arkle Resources, Galantas, Tracsis
- AIM Market Roundup: Metals One, Conroy Gold, Tekcapital
Tungsten West LON:TUN was down 17% at the bell, Delays in making year end filings saw the stock suspended yesterday. The listing was reinstated mid-session but clearly investors didn’t take the news too well. The company needs to complete a funding round imminently to continue trading beyond the month-end.
