London’s AIM Index started on the back foot and managed to make some headway but ultimately reached the bell still in the red, down one and a half points at 735.48. Suggestions that the BoE’s policy tightening schedule may be nearing its peak did little to lend support.
- Angle Plc +26%
- Arc Minerals +22%
- Mosman Oil +16%
- Polarean Imaging -21%
- CVS Group -18%
Interim results from Angle LON:AGL this morning were sufficient to push the stock to the top of the table with gains of 26% at the bell. Revenues trebled against the comparative and a strong order book is also in play. That said, losses remain steady but full year revenues are set to be in line with expectations. The current cash runway extends to Q1 ’25.
- Small Cap Stocks: Aferian, BigBlu Broadband, Armadale Capital
- Companies Reporting: TUI, CVS Group, JD Sports
- Small Cap Stocks: UK Oil & Gas, Jaywing, Mosman Oil
Arc Minerals LON:ARCM advanced 22% on the day, finding itself in second place. Positive news out of Zambia is bolstering support here and meaningfully higher than usual volumes have been recorded.
Mosman Oil LON:MSMN is back on the radar getting the notable mention, up 16%. The company has reached an agreement to abandon a well to partners, saving $200k in the process. This has helped extend yesterday’s gains although the spread accounts for most of the uptick.
Polarean Imaging LON:POLX was the biggest faller, off 21% by the close. This morning’s half year report offered little inspiration with revenues having fallen sharply and losses creeping higher. More cash will be needed at some point next year.
CVS Group LON:CVSG was in second to last place, down 18%. This morning the CMA announced it was reviewing the soaring cost of vets bills, which is core to the CVS business. The company is naturally defending the citation, noting a shortage of vets and rising price pressures. Shares have recovered meaningfully from lows posted earlier in the day – this will be a tough charge for the CMA to act against.
