London’s AIM Index has seen more modest losses on Tuesday with the Bank of England governor giving no real insight over the timing of rate cuts, dampening any enthusiasm as a result. By 4.30pm the junior index was around three points lower at 753.22.
- Engage XR +25%
- Sabien Technology +25%
- Kistos Holdings +13%
- Horizonte Minerals -60%
- Renalytix -16%
Engage XR [LON:EXR] topped the board, up 25% heading into the close after notifying the market this morning of a major, seven figure contract win with PWC. The company added that they had also extended a relationship with a major US bank and that its sales pipeline continues to grow.
Sabien Technology LON:SNT was in second place just before the bell, also up around 25%. The company issued a bullish half year report yesterday but this failed to catch the eye of investors. News today that the chairman had invested £40k into the business did however spark some interest, although the gain barely exceeds the quoted closing spread.
Kistos Holdings LON:KIST gets the notable mention, up 13%. The company advised that it had entered into an agreement with EDF to purchase some onshore UK gas storage assets. The numbers – paying £25m for assets that posted pre-tax profits of £32m in 2022 alone – certainly seem attractive.
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Horizonte Minerals LON:HZM was the day’s worst performer, off 60% after the company issued updated cost calculations on a Nickel mine. That came with a warning that more funding was going to be required, something that clearly had investors looking for the exits.
Renalytix LON:RENX was off 16% approaching the close. There’s no news here but the company’s stock had a phenomenal run at the start of the month off the back of that US insurance news so a degree of profit taking whilst the consultation period runs is hardly surprising.
