Hotter than expected UK inflation data gave markets another reason to sell off with the expectation of more rate hikes still to come in the summer. The beating seemingly will continue until morale improves. London’s AIM Index closed down eleven and a half points at 796.55, the first time the all share has been below 800 since late March.
- Enwell Energy +42%
- Brandshield Systems +34%
- Byotrol +32%
- Mineral Financial Investments -18%
- Argos Resources -17%
Enwell Energy [LON:ENW] topped the board, adding 42% on the day. The company announced on Monday that owing to the resignation of its auditor it was unlikely going to be able to file accounts on time and shares would be suspended as a result in early July. The downside here was limited but today’s news that a 15p interim divided would be paid has given cause for cheer – especially since the stock only started the day at 18p…
Brandshield [LON:BRSD] was the second best performer, adding 34%. This appears to be the result of a revaluation of a portfolio company – WeShop – which is currently listed on the JP Jenkins platform, but trade in Brandshield has itself been restrained, suggesting that the upside may be difficult to sustain.
Byotrol [LON:BYOT] gets the notable mention, up 32%. There are a couple of RNS’s out this morning, one announcing a PDMR dealing which took place on Monday, followed by another this afternoon declaring that the EPA had formally approved a sanitizer made by the company. The price action came after the EPA news.
Mineral Financial Investments [LON:MAFL] slipped 18% on the back of placing news. The company has raised £250k and the move reflects the discount at which the new equity was issued.
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Argos Resources [LON:ARG] sits 17% lower at the bell. A general meeting was convened at the start of the month, to be held on Friday and a proposal will be made to put the company into voluntary liquidation. There has been no update here and the stock trades on a very wide spread but the end appears to be in sight.
