(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Thursday.
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AIM - WINNERS
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Jarvis Securities, up 6.1% at 260.00 pence, 12-month range 146.16p-308p. The stockbroking and administration services provider says pretax profit rises by 28% in the six months to June 30 to GBP1.0 million, as revenue increases by 19% to GBP1.3 million. Cash under administration has increased 17% year-on-year. Jarvis says trading conditions have been favourable in the first half, and it has not seen the "extreme volatility and accompanying spikes" in daily volumes that were experienced in 2020.
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CyanConnode Holdings, up 5.2% at 11.05p, 12-month range 3.20p-14.50p. The radio frequency smart mesh networks firm secures further follow-on order from its partner JST Group for the Metropolitan Electricity Authority, a Thai state enterprise under the Ministry of Interior. The follow-on order is for 31,000 omnimesh modules and associated gateways and is in addition to the 33,000 omnimesh modules and 206,735 omnimesh perpetual software licenses purchased in 2019 and 2020. Deployment of this order is expected in the final quarter of 2021.
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W Resources, up 5.1% at 7.20p, 12-month range 0.078p-13.30p. The tin and gold mining company completes the first water dam resulting in regaining access to higher-grade ore at the La Parrilla mine in Spain. The company says it needed to carry out corrective and proactive maintenance prior to regaining access to higher-grade ore. These measures resulted in a ten-day production shutdown, with production recommencing on June 8. W Resources achieves the highest quarterly tungsten concentrate production to date at 106.4 tonnes.
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AIM - LOSERS
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Immedia Group, down 52% at 16.50p, 12-month range 11.50p-40.8p. The supplier of multi-media content terminates takeover talks with Sprift Technologies with immediate effect. Therefore, the company's shares restored for trading in London. Immedia agrees the recovery of costs from Sprift Technologies of GBP150,000, which has been added to the amount owed to Immedia in respect of its secured loan, and which bears interest and is repayable on the same terms as the loan.
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Petro Matad, down 36% at 3.42p, 12-month range 2.18p-9.34p. The oil company raises USD9.7 million through the oversubscribed placing for 200.6 million new shares at a price of 3.5p per share. In addition, the company places 14.3 million new shares at the same price, raising USD700,000. "This fundraise will allow us to commence production from the Heron field, with the completion of the Heron 1 well and the drilling of the H2 and H3 wells," says Chief Executive Mike Buck.
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ASOS, down 16% at 3,943.88p, 12-month range 3,185p-5,994.95p. The fashion retailer warns of slower growth, predicting Covid-19 uncertainty may result in volatility. In the four-month period to June 30, which ASOS labels as P3, growth in the final weeks of the trading stretch was muted. The London-based retailer put this down to the virus and poor weather in the UK. During the four-month period, revenue rose 27% annually to GBP1.29 billion from GBP1.01 billion. The figure includes delivery costs and third-party revenue. Stripping out such items, retail sales alone were 26% higher at GBP1.24 billion. Sales rose despite the four-month period coinciding with high street stores in the UK reopening.
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By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Petro Matad (MATD)
Cyanconnode (CYAN)
ASOS (ASC)
Jarvis Securities (JIM)