London’s AIM Index is in retreat again with last night’s hawkish FOMC meeting minutes setting the tone. The All Share sat at 744.8, down seven points lower at 1pm
- I(X) Net Zero +71%
- Petro Matad +54%
- Distl +33%
- Emmerson -32%
- Argo Group -17%
I(X) Net Zero LON:IX. jumped 71% by 1pm in the wake of an announcement that its portfolio company WasteFuel had secured a $10m investment from BP. That’s going to result in a significant uplift to the NAV of I(X) and is seen as a significant milestone for WasteFuel.
Petro Matad [LON:MATD] was in second place, up 54% following an operational update. The Mongolian oil company has announced that the national government has approved certification of its Block XX Exploration Area as special purpose land. This allows the company to move to the next stage of exploration.
Distil LON:DIS gets the notable mention, up 33% on the day. A trading update this morning showed a notable improvement year on year, a move that has arguably validated the pivot seen by the company and also helps more than replace those losses at the start of the week in light of full year numbers.
Emmerson LON:EML was the biggest faller, off 32% with a Q2 update. The company is still struggling to receive environmental approvals yet needs to proceed with further fund raising. It’s a difficult combination for sure…
- Small Cap Stocks: Emmerson, CAP-XX, YouGov
- Small Cap Stocks: Good Energy, Distil, Corcel
- Small Cap Stocks: musicMagpie, Emmerson, Arkle Resources
And at 1pm, Argo Group LON:ARGO was the second biggest faller, off some 17% by 1pm. However there’s no news, limited deals placed and a hulking wide spread on the £3m company.
