AIM WINNERS & LOSERS: Touchstone's Cascadura boost; musicMagpie falls

Wed, 17th Aug 2022 10:47

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday.

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AIM - WINNERS

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Revolution Beauty Group PLC, up 24% at 29.75 pence, 12-month range 7.25p-170.00p. boohoo Group PLC makes a "strategic investment" in the beauty products seller. Online-only retailer boohoo now has a 7.1% stake in Revolution Beauty.

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Touchstone Exploration Inc, up 11% at 109.00 pence, 12-month range 51.60p-160.98p. The Trinidad & Tobago Environmental Management Authority grants certificate for environmental clearance for Touchstone's Cascadura project. The Cascadura project is in the Ortoire block, onshore Trinidad, in which Touchstone holds an 80% operating interest in the block. Heritage Petroleum Co Ltd holds the remaining 20% interest.

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AIM - LOSERS

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musicMagpie PLC, down 11% at 40.00p, 12-month range 40.00p-182.97p. The used-technology reseller slides on consumer spending fears after another red-hot UK inflation reading. Inflation in July topped 10%, according to the Office for National Statistics.

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Gooch & Housego PLC, down 20% at 660.80p, 12-month range 627.72p-1,469.15p. The Somerset-based maker of photonics components and systems says its chief executive, Mark Webster, will depart. He will be replaced by Charlie Peppiatt on September 14. In addition, Gooch says it has been hit by supply chain shortages. It has cut its forecast for adjusted pretax profit in the financial year by GBP3.5 million compared to previous expectations.

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By Eric Cunha; ericcunha@alliancenews.com