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SmallCap Round Up: Kingswood, Strategic Minerals, Intercede


The AIM All Share index saw some respite on Tuesday off the back of those falling bond yields and even managed a brief foray above the 700 mark this morning, but support is ebbing away once again.

US PPI data came in a little hotter than expected although there will be hope that the FOMC meeting minutes due later may reiterate the accommodate theme. At 4.30pm the index was two and a half points lower at 695.6.

  • Kingswood +25%
  • Strategic Minerals +23%
  • Intercede Group +9%
  • Eneraqua Technologies -59%
  • Calnex Solutions -23%

Kingswood [LON:KWG] topped the board although gains were a relatively modest 25%. The stock has been under significant pressure since the end of September following the release of interim results. There’s seemingly nothing behind today’s move other than opportunistic bargain hunting with a small number of large orders being processed.

Strategic Minerals [LON:SML] was in second place, having added 23% on the day. The company this morning announced the signing of an MoU by a subsidiary with Oxford Sigma Ltd, covering an initial 5 year period. This relates to the long term ambitions of the company to make the fusion power industry sustainable – something that could be genuinely transformative for the world.

Cybersecurity [LON:IGP] play Intercede gets the notable mention, adding 9% on the day. This morning the company advised that the CEO had invested £40k of his money into the business.

Eneraqua [LON:ETP] was the biggest faller, off 59% at the bell. Interims released ahead of the open were impressive enough, but a cautionary note over deteriorating spending patterns from customers post period end means that some planned sales are being pushed into FY25. FY24 revenues are now set to be materially below market expectations.

Calnex Solutions [LON:CLX] was in second to last place, off a further 23% and extending the losses which were triggered late yesterday afternoon when results were released. Orders have been subdued for the first six months of the year and the second half is set to be slower than previously anticipated, with full year numbers 20-30% below current expectations. Management are confident that growth will return in FY25, as orders are being deferred as opposed to cancelled outright.

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This article does not constitute investment advice. Do your own research or consult a professional advisor.

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