The combination of confidence that China stimulus measures will have an impact along with better than expected UK PMI data being released has once again buoyed smaller stocks in London with the AIM All Share adding almost five points on Wednesday to close at 743.83.
- System 1 Group +28%
- Airea +16%
- Nahl Group +11%
- Molecular Energies -49%
- Tern -29%
System1 Group LON:SYS1 added 30% on the day, buoyed by a trading update this morning, highlighting that further progress had been made against the previously laid out strategic review objectives. Management add they believe the group will now deliver results ahead of expectations.
There’s a trading update also out from Airea LON:AIEA that’s driving price action. The stock added 16% by the close with sales posting low doble digit percentage growth, ahead of the first half performance. Positive momentum is being maintained and the company has also announced a £5m investment in its West Yorkshire manufacturing facility. The stock doesn’t usually see much in the way of volume and today’s lumpy trade does mean that the gain is little more than the closing spread.
Nahl Group LON:NAH gets the notable mention, up 11% off the back of its year end trading update. Revenues continue to grow, with operating profits now expected to come in slightly ahead of market expectations. High levels of cash generation are also enabling debts to be paid down.
- Small Cap Stocks: Genedrive, Tern, Conroy Gold
- SmallCap Stocks: Metals One, Sareum, Molecular Energies, Scirocco Energy
- SmallCap Stocks: Molecular Energies, RedX Pharma, Seed Innovations
Molecular Energies LON:MEN is propping up the board, off some 49% reflecting a discounted fundraise that was undertaken today, although the stock is now priced slightly on-side. The funds will be used to advance a number of projects which the business is involved in.
Tern LON:TERN was in second to last place, off 29% on the day, again with placing news in play. The company raised £400k at a 30% discount today with CMC Markets LON:CMCX CapX division acting as the sole placing agent. The proceeds will be used to invest in portfolio companies and for general corporate purposes.
