London’s AIM Index appears on course for a positive finish for the first time this week, although the market is well off mid session highs. With just a few minutes to the bell, the index sat up less than one point at 809.88
- Star Phoenix +27%
- MyHealthChecked +20%
- Kibo Energy +15%
- Mirada -61%
- Fusion Antibodies -16%
Heading into the close and oilfield services company Star Phoenix LON:STA was the day’s biggest riser, adding 27% by the bell. However this is a relative minnow, dealflow was incredibly light and the spread was being quoted at in excess of 11%, consuming much of the upside.
MyHealthChecked LON:MHC advanced 20% on the day in the wake of news that it would launch an extended range of test at home products via Boots. A total of 20 different kits will be launched, including six which operate on a lateral flow basis, with management noting this marks a turning point when it comes to consumer demand for at-home testing.
Kibo Energy LON:KIBO advanced 15% on the day, having published a pair of updates this morning. One highlighted the fact that a wholly owned UK subsidiary had concluded heads of terms with an investor consortium, which includes the reprofiling of existing loans and a significant cash injection into the business.
Mirada LON:MIRA was the worst performer on the day, falling some 61% off the back of news that the company plans to delist from AIM and move over to the JP Jenkins platform. Given the significant holdings of a single shareholder here, the motion will be passed. A trading update included with the note showed revenues and EBITDA posting modest year on year declines, but debts exceeded the $10m mark.
- AIM Market Roundup: Trellus, Falcon Oil, MyHealthChecked
- Small Cap Stocks: Rockfire Resources, Fusion Antibodies, Oracle Power
- Small Cap Stocks: MicroSalt, N Brown, Cloudcoco
Fusion Antibodies LON:FAB slipped 16%, although volumes were far from remarkable and order flow was lumpy. There’s no formal news out although in recent years a trading update has been supplied in early May.
