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SmallCap Round Up: Intuitive Investments, Deltic Energy, Eqtec


An upbeat assessment of the broader UK economy by the Bank of England despite the corrosive impact of rate hikes has been sufficient to buoy sentiment across the board for stocks today.

The AIM Index managed to post a gain in excess of 1%, adding almost 8 points on the day to close at 746.42, although that was comprehensively eclipsed by the uptick seen on the main board.

  • Intuitive Investments +68%
  • Deltic Energy +33%
  • Eqtec +32%
  • Fiinu -60%
  • Unbound Group -30%

Intuitive Investments [LON:IIG] added 68% on the day, topping the table. Shares advanced modestly yesterday off the back of news that it would appoint Nigel Rudd as its next chairman, but momentum built behind the rally today. Volumes were however limited, illustrated with the 17% spread.

Deltic Energy [LON:DELT] added 33% on the day after the company announced a significant increase in its oil and gas estimates for the Pensacola discovery license. Reserve calculations have been approximately doubled as a result.

Eqtec [LON:EQT] gets the notable mention following a notification that it had sold a majority interest in its France market development centre to Idex. With shares up 32% on the day, the terms of the deal have clearly received investor support despite the note lacking detail as to how the sale proceeds will be invested.

Fiinu [LON:BANK] was the biggest faller, off 60% at the bell. The company issued an operational update this morning noting that it would have to deploy cost reduction schemes at two subsidiaries, enabling it to continue meeting financial obligations as they fall due. Further strategic shifts may be necessary in due course.

Unbound Group [LON:UBG] dropped 30% on the day after the company confirmed press speculation that administration remained a real possibility for the business. All options including a restructure and a fresh equity raise are being explored, but if these prove fruitless then a suspension of the AIM listing may follow.

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This article does not constitute investment advice. Do your own research or consult a professional advisor.

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