Modest losses have marked the start of the week’s trade for the AIM All Share with the two point decline on the index going against the trend we’re seeing on both sides of the Atlantic. However with the budget looming and fears that IHT breaks on AIM Shares will be eradicated, the negative sentiment may well dominate over the next month. The All Share stood at 743.57 by the close.
- Plexus Holdings +24%
- Parkmead Group +23%
- Microlise Group +10%
- Proton Motor Power Systems -42%
- Cloudcoco -28%
Plexus Holdings LON:POS was the biggest riser on the day, adding 24%. Shares received a bounce late last week after stakebuilding news and continue to bask in the positive momentum seen here.
Parkmead Group LON:PMG was 23% higher at the bell. After a steady run of losses since the start of the month, Monday was denoted by a marked increase in volumes although there’s no firm news. Again there’s the fact that political posturing here could have a significant impact on the valuation of companies – like Parkmead – in the oil and gas sector.
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Proton Motors LON:PPS was the biggest faller, off 42%. The company recently advised of funding woes and today notified all employees in its Puchheim office of its intention to terminate their employment. Whilst the company can continue to operate until the year end, survival beyond this will be reliant on an alternative finance agreement being met.
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Cloudcoco LON:CLCO was down 28% on the day. Whilst that was barely beyond the quoted closing spread, it’s another meaningful leg lower for the business which is now valued at barely £500k. There’s no news out here but the perennial challenge is sustaining listing costs for a business of this size.
A notable mention for Microlise Group LON:SAAS which was 10% higher off the back of news that the company had won a five-year contract with JCB. This extends an already lengthy ongoing relationship between the two businesses although no details of financials are included.
