London’s AIM All Share gave back quite a lot of those jubilant gains posted in the wake of yesterday’s budget. Whilst the junior market has been thrown something of a lifeline, those looking to AIM as a tax efficient way of passing on inheritance at scale have been left scuppered. That weak start on Wall Street seems to have exaggerated the situation too, with the index trading down more than 8 points at 736.27 by 3pm.
- Parkmead Group +25%
- Microsalt +22%
- United Oil & Gas +13%
- Armadale Capital -35%
- Proton Motor Power -21%
Parkmead Group LON:PMG topped the board up 25% by 3pm. There’s no confirmed news here but full year results will be due imminently and has there been a change in the production situation?
Microsalt [LON:SALT] added a further 22%, extending Wednesday’s rally off the back of those order updates. Not much more to say here!
A notable mention for Union Oil & Gas LON:UOG. There’s a 13% spread being quoted however so that takes out most of the 14% gain, but the company has just announced that it completed its withdrawal from Egypt, with the note including an update on the company’s now improved cash position.
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Armadale Capital LON:ACP was the worst performer at 3pm. The company has been in for a turbulent ride of late since announcing its plans to delist so the exaggerated move here is likely little more than posturing and is well within the spread.
Proton Motor Power LON:PPS was 21% lower on the day, giving back some of the gains posted earlier in the week in response to order follow on news from a division of Deutsche Bahn. Orders have however been lumpy and there’s an exaggerated spread sitting on the stock at the time of writing.
