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SmallCap Round Up: Armadale, Quantum Blockchain, Northern Bear


London’s AIM Index has started the week on the back foot with that breach of 5% on US treasuries taking a toll, although late session gains for the Pound will have done little to help. At the bell, the All Share was down almost three points at 680.29.

  • Armadale +35%
  • Quantum Blockchain +31%
  • Northern Bear +27%
  • The Mission Group -59%
  • R&Q Insurance -52%

Armadale LON:ACP topped the board, up 35% on the day although trades were limited and the spread accounts for most of the uptick. However the company – a play into the Graphite market – could see added support emerging off the back of export curbs from China.

Quantum Blockchain LON:QBT was in second place up 31%. The company provided a market update on Friday afternoon which provided some traction and fed off the back of a social media post earlier in the week. This is to do with a tech development and the stock is now up more than 100% from a week ago, with underlying gains for cryptos also helping.

Northern Bear LON:NTBR gets the notable mention, up 27%. The company this morning announced a new funding round at a healthy premium and added that trading remained string despite macroeconomic challenges including staff retention.

The Mission Group LON:TMG was the day’s worst performer, off some 59% at the bell. The company published a trading update this morning which included a cautionary note that the outlook has deteriorated quickly and would be increasingly challenging. The board has commenced an operational review and believes that the outturn for FY23 will be significantly below market expectations. Net debt is up and the interim dividend has been cancelled to preserve cash.

R&Q Insurance LON:RQIH was in second to last place, down 52%. The company announced after the close on Friday that it intended to dispose of its Program Management business for $465m. Proceeds will be used to deleverage the business, allowing the company to focus on a strategy of seeking capital efficient and recurring fee based contracts.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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