Despite an early bounce for the junior index at the start of the week, positive sentiment didn’t last in London and the slow grind lower continued with the AIM All Share finishing Monday’s session down just over one point at 746.58.
- Smarttech247 +32%
- Ensilica +29%
- Hornby +24%
- Saietta Group -32%
- Base Resources -19%
Smarttech 247 [LON:S247] sat at the top of the board, up 32%. Trade was however relatively thin and the spread accounted for around half of the uplift although news of a notifiable transfer of ownership of a stake in the business was also issued today. Little to suggest this is the start of any bigger move higher, however.
Ensilica LON:ENSI was in second place, up 24%. Interim results this morning were well received, with management noting that strong momentum had been maintained into the second half of the year.
Slightly more exciting from Hornby LON:HRN who had another day of “full steam ahead” as investors continued to cheer the stake building news from last week. In addition to Fraser Group adding to its holding, Artemis Investment Management disclosed that it owned almost 10% in a note issued shortly before the weekend break. Shares are up 27% on the day, lifting year to date gains to well over 100%.
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Saietta Group LON:SED was the day’s laggard, off 32% after Friday’s confirmation that management were looking to find a buyer for the company. Shares fell heavily ahead of the weekend break and extended that run lower during today’s trading as institutional investors continue to dump stock.
Base Resources [LON:BSE] sat in second to last place, off 19% on the day. The company published interim results this morning. Whilst the overall tone was sufficiently upbeat, investors were clearly left wanting with updates over the Madagascar project arguably lighter than could have been expected.
