Approaching 4pm and London’s AIM Index is sitting around four points lower, set to post what will be only its fourth down day so far this month. The move is in line with risk off sentiment being seen globally although the right noises from tonight’s FOMC meeting minutes release could change the tempo here.
- Rua Life Sciences +84%
- Simec Atlantis +24%
- Intercede Group +20%
- Neometals -24%
- Empresaria -21%
At our slightly earlier copy time today, Rua Life LON:RUA was leading the pack, up 84%. That extends yesterday’s gains off the back of the strategy update amidst some very heavy trading in the stock. The share price is however well down from mid-session highs.
Simec Atlantis Energy LON:SAE was in second place, up 24%.
Intercede Group LON:IGP added 20% to take the notable mention, in the wake of interim results plus news of new contracts as well as renewal orders this morning. This has created a contract backlog for FY25 and should offer strong momentum for the remainder of FY24.
- Three Quick Facts: ME Group, SIMEC Atlantis, ZIGUP
- Small Cap Stocks: Empyrean, Seascape, Mirriad
- Small Cap Stocks: Simec Atlantis, Active Energy, Indus Gas
Neometals [LON:NMT] was the day’s laggard, off 24% after news of fund raising was released after last night’s close. The cash is to be used to advance development of existing projects and the fact that the sell-off reflects the discount suggests that investors aren’t heading for the exits.
Global staffing group Empresaria LON:EMR was in second to last place, down 21% at copy time. A trading update this morning noted that challenging market conditions had persisted into Q4 and weger expected to continue into the New Year, too. Aggressive cost cutting action has taken place and full year adjusted profits are now expected to be between £3m and £3.5m, around half the level expected back in May.
