London’ AIM All Share Index had a reasonable start to the day, but sentiment soured off the back of Wall Street’s open. Far weaker than expected US GDP growth saw US stocks rattled and that has reverberated globally. By 4.30pm, the All Share was around two points lower at 752.90.
- T42 IOT +33%
- Cordel +25%
- Merit Group +16%
- Destiny Pharma -22%
- Indus Gas -25%
T42 [LON:TRAC] was topping the board heading into the close, standing some 33% higher. There’s no news here and trade has been lumpy with the move barely being more than the quoted spread.
Cordel [LON:CRDL] was in second place at copy time, up 25%. The company this morning announced its first contract win with a major national rail network in APAC. There’s no further detail about the client or indeed the size of the deal, although references to AI seem to have appealed.
Merit Group [LON:MRIT] gets the notable mention, up 16% off the back of this morning’s trading update, noting that it now expects to report full year earnings around 10% higher than previously forecast.
- SmallCap Risers and Fallers: Filtronic, Angle, Aptamer
- SmallCap Round Up: Trafalgar properties, GCM Resources, Kazera Global
- SmallCap Round Up: Verditek, CAP-XX, Ensilica
Indus Gas [LON:INDI] was the biggest faller, off 25% towards the close, extending the losses posted earlier in the week. There’s no official statement as to what’s driving the stock lower here, however.
Destiny Pharma [LON:DEST] was down 22% following the publication of full year results and news that management were undertaking a review of strategic options to support next stage development. The company is funded through to Q1 ’25, but there’s arguably a dilution risk here that some are trading against.
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