At midday, London’s AIM Index was trading barely higher, up just over one point at 830.3. Momentum may well change however once the US session gets underway with Wall Street futures eyeing a weaker start in light of weak earnings news.
- Marechale Capital +23%
- Dekel Agri Vision +15%
- Oriole Resources +12%
- IG Design -11%
- Block Energy -10%
Marechale Capital LON:MAC was the morning’s best performer, adding 23% although volumes were minimal and the move was well inside the quoted spread in the £1m minnow.
Dekel Agri-Vision LON:DKL the West African company focused on sustainable agriculture projects, added 15% by 12pm, helped along by a Q1 update from its cashew processing plant in Côte d’Ivoire. Production was as had been forecast although pricing was better than expected and the move into the commercial phase of operations appears to have been well received.
- IG Design parties on, defying revenue drop to deliver strong results
- Small Cap Stocks: Powerhouse Energy, Zenova, Polarean Imaging
- SmallCap Stocks: Dekel Agri-V, Helium One, H&T Group
IG Design LON:IGR was the biggest faller, off 11% in the wake of earnings. These highlighted that whilst the company’s performance was ahead of expectations, trading conditions were challenging given the macroeconomic backdrop. Operating margins are however improving with management expecting to see a 140 basis point uptick.
Block Energy LON:BLOE slipped 10%, extending the down trend which has been in play all week following that operational update. Volumes are however very thin and the move is well within the spread.
A notable mention for Oriole Resources LON:ORR up 12% at copy time. The Executive Chair invested almost £200k into the business at last night’s closing price, providing valuable working capital for the months ahead.
