With all eyes on the Federal Reserve, market participants appear to be sitting on their hands ahead of the FOMC statement. London’s AIM Index traded in a narrow range as a result, reaching the closing bell around one and a half points lower at 803.43
- Pathfinder +17%
- Europa Metals +15%
- FeverTree Drinks +10%
- Anpario -28%
- Blackbird – 24%
Pathfinder LON:PFP topped the board, adding 17% in a comparatively quiet session. This morning the company confirmed that they had signed an SPA for the sale of IM Minerals, helping the stock recover some of the losses picked up since the disposal was last mooted.
Europa Metals LON:EUZ added 15% on the day. There was some news out today confirming budgets for a JV operation but given the limited trade and wide price spread, it seems unlikely that there’s too much to read into this.
FeverTree Drinks [LON:FEV] had earnings out this morning and despite increased costs eating into profits, investors gave the stock a warm reception, adding 10% by the closing bell. EBITDA for the current FY is expected to show little in the way of growth, either.
- Three Quick Facts: Trainline, Renishaw, Fevertree
- Companies Reporting: Dunelm, Fevertree, Trainline
- Companies Reporting: Kingfisher, Ocado, Carnival, FeverTree
Anpario LON:ANP had final results out this morning and slumped to the foot of the table, off some 28% at the bell. Revenues fell 1% but pre-tax profits took a 35% hit as supply chain pressures and input costs took a toll. The new FY has started off weaker than expected too but management eye something of a recovery and have offered a 5% uptick in dividends.
Blackbird LON:BIRD was the second biggest faller, off 24% at the close. The numbers look broadly positive with another year of revenue growth being reported at 38% but operating costs jumped by almost 50% which is arguably cause for concern…