At 2.30pm, London’s AIM Index sat less than one point lower on the day at 791.26. Despite the debt ceiling breakthrough in the US, investors seemingly remain underwhelmed by the prospect of further rate hikes from the Fed.
- Empire Metals +54%
- Heavitree Brewery +23%
- Malvern International +18%
- Capital Metals -37%
- Itsarm – 25%
Empire Metals LON:EEE sat at the top of the board, up 54% at copy time. The company announced drill results this morning, confirming the presence of a giant-scale hydrothermal mineral system enriched in titanium and copper. There’s more work to be done but this seemingly has the potential to provide a significant uplift for the stock which now sits at close on two year highs.
Heavitree Brewery LON:HVTA finds itself in second place, some 23% ahead, but given the very thin trade that’s been seen here there’s really nothing more to say.
Malvern International LON:MLVN added 18% by 2.30pm, making for the notable mention. The company published a trading update ahead of its AGM, noting strong momentum across the business, with its Junior division attracting special attention, amidst expectations full year revenues will exceed £3m, compared with £1.35m a year ago.
Capital Metals LON:CMET was the worst performer, off 37% at copy time. The company provided an update on the suspension of mining licenses in Sri Lanka where it is at deadlock with the regulator. Procedural errors are being flagged by Capital paving the way for an appeal but this could yet end up in some kind of arbitration.
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Itsarm LON:ITS was the second biggest faller by 2.30pm, down 25%. The company’s shares leapt higher on Friday following news that a planned cancellation of the listing had failed to receive shareholder approval but more than half of these gains have now been given back.