SMALL CAP MOVERS: AIM Index shows some bright spots amidst major turbulence on London markets

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After several days of turmoil in the stock market, caused by the government’s mini-budget, the London junior market ended the week and the month with a small jump and a rush of publications of results.

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Friday’s 0.4% gain meant that the AIM All-Share index fell 3.9% for the week as a whole, compared to a 1.7% drop for the international FTSE 100 index and a 5.6% drop for companies with medium capitalization. FTSE 250.

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Even among the smoking wreckage of the market, there were several small company success stories, including Attractwhich jumped after receiving a takeover offer in cash with a premium of about 71.43% to the previous day’s closing price.

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Bright Spot: Amid the turmoil in the stock market, AIM’s London Junior Market ended the week and month with a small bounce and a rush of results.

Among those who stick out in the market, Eden Research stood out among the 80-plus companies that released results at the end of the quarter on Friday and the 100-plus companies the previous days, saying it was on track to meet its sales target for the year after reporting a 32 percent jump in first-half revenue.

Helping to lift shares up 29% in a week, the sustainable biopesticides group said it cut losses in the first half and entered the second with an even stronger position following the approval of the company’s products in the US.

This, in the words of chairman Lykele van der Broek, “opens up significant revenue and growth opportunities for us as our total available market is around US$500 million.”

7Digital also hit the nail on the head with its results on Wednesday, with the digital music specialist’s stock up 27% after the company reported a 21% half-year revenue growth and break-even at the baseline.

The company, which last week announced a £500,000 fundraiser through a loan from shareholder Magic Investments, said it has attracted five new licensing clients, three contract extensions or renewals and is entering the second half with “solid new business.” process.”

Back home in the UK Billington shares showed good growth after the structural steel company predicted better-than-expected results for this year and next.

Revenue for the first six months of the year rose 22.4% to £46.2m, with profit nearly doubling to £1.5m. The Barnsley group said it had received a significant amount of new work since the end of the semester.

Specifically, the company said it won contracts in the data center, waste-to-energy and industrial warehouse sectors with improved margins.

Chief Executive Officer Mark Smith said: “While macroeconomic headwinds are likely to persist for some time, especially around material availability, price volatility and ongoing inflationary pressures, we are seeing a steady stream of higher margin opportunities.”

In the lower reaches of the mining sector, there have been several winners, with tiny explorers. Tertiary minerals up 56% following two Zambia updates saying tribal and stakeholder engagement has been “successfully completed” and the company now has a 90 percent stake in a joint venture with local company Mwashia Resources.

The company said it is starting soil sampling at the Jacks copper mine after drilling this summer and has hired an experienced country exploration manager.

MusicMagpie, whose co-founder Steve Oliver (pictured), lost more than half its value in a week after its concerns about the UK economic outlook led to a lower profit target.

MusicMagpie, whose co-founder Steve Oliver (pictured), lost more than half its value in a week after its concerns about the UK economic outlook led to a lower profit target.

Concentrated on the other side of the border with Mozambique, Pathfinder Minerals shares jumped 29% after announcing an option agreement with a US firm specializing in international asset recovery to file a lawsuit against the South African government for expropriating a mining license.

If the agreement is approved, the Delaware-based Acumen Advisory Group will pay Pathfinder £2 million in cash to acquire a wholly owned subsidiary of IM Minerals and the rights to sue, with litigation initiated within three months to reach a five-year conclusion and separation proceeds from lawsuits.

Pathfinder said closing the deal would mean it would be converted into a cash shell, but could also eventually benefit from the potential upside from the claim, which was “independently valued at between $110 million and $1.5 billion.” USA”.

But the week was dominated by bears, many of which were warning of profits along with the release of half-year results as the economic outlook deteriorated.

MusicMagpie lost more than half its value in a week after concerns about the UK economic outlook led to a lower profit target.

While the company’s goal is to help people earn a few pounds selling used DVDs, CDs and electronic goods, the company expects sales and earnings growth to be weaker than previously thought.

“While the group still expects Black Friday to be the peak trading period, it now feels it is prudent to lower its expectations for deposits during this period due to the deteriorating economic outlook and growing pressure on UK consumers. , – he said.

Results from fire angel security technology were also sluggish as the home security supplier warned that while revenues rose in the first half and are expected to be strong throughout the year, the impact of higher component costs and a weaker pound means underlying profits will be ‘well below what outlined the market.

Pressure technologies fell after saying he would take losses for the full year and was in talks with his bank as the second-half recovery did not materialize.

This is according to the engineer…

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