London’s AIM All Share Index started the day briefly higher but gains were short lived. Downside running towards the close however was just over one point with the index sitting at 744.49 by 4pm.
- Itim Group +60%
- Powerhouse Energy +52%
- Itaconix +22%
- Saietta Group -44%
- CAP-XX -42%
Itim Group [LON:ITIM] was the biggest gainer running towards the close with the software play up 60% off the back of news that a contract had been won from clothing retailer QUIZ. The five year, multi-million pound deal is seen as a significant win which also demonstrates the breadth of the itim platform.
Powerhouse Energy [LON:PHE] was in second place, up 52%. Shares posted solid gains a week ago off the back of that framework agreement with National Hydrogen but the upside has accelerated today with a well-received IR interview serving up fresh support.
Itaconix [LON:ITX] gets the notable mention, having added 22% in the wake of a trading update. The company notes a record year of unaudited revenues, with the cleaning sector being the major driver and growth following an exponential trajectory. Management encapsulate the proposition well by saying that whilst increasing sustainability is at the heart of the business, the fact this is being delivered alongside performance and affordability makes for a winning proposition.
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Saietta Group [LON:SED] was the biggest faller, off 44% heading into the close. As noted yesterday management are looking for a buyer and investors are using this as a trigger to offload stock, working on the basis that there will be little value left.
CAP-XX [LON:CPX] was down 42% on the day. The company last week walked away from an appeal it had lodged over a patent infringement, but there are now concerns that this could open the door to weighty legal liabilities.
