Good morning! Welcome to the Small Cap Value Report, our daily analysis of small cap share news.
Some interesting stories out this morning:
- Patisserie Holdings (LON:CAKE) - shares and the CFO suspended as the company investigates accounting irregularities.
- Sosandar (LON:SOS) - placing and half-year trading update
- Walker Greenbank (LON:WGB) - interim results
- Miton (LON:MGR) - solid inflows
- Vertu Motors (LON:VTU) - interim results
- Hollywood Bowl (LON:BOWL) - trading update
Market Volatility
A quick word on "market volatility" (often a euphemism for market weakness, but there we are).
The FTSE 100 is testing support around 7200 as I speak. We have made a fresh six-month low.
Overall sentiment in the market has been a frustrating headwind for many investors. The measure that I particularly track is the FTSE All-Share Total Return Index: this is down 2.7% year-to-date.
Within that, the more domestic-focused FTSE 250 Index has under-performed (total return is down 3.6% year-to-date). I get these numbers direct from FTSE.com.
Looking at the junior market, where many private investors are active, the AIM All-Share Index (AXX) has had a horrific sell-off over the past five trading sessions.
It closed at 1092 on October 3rd. Only a week later, and it's at 1019: a sharp, fast fall of some 6.6%.
Some of the most popular and higher-valued AIM stocks have had a particularly nasty week:
- ASOS (LON:ASC) down 13%
- Burford Capital (LON:BUR) down 20%
- Fevertree Drinks (LON:FEVR) down 23%
- Abcam (LON:ABC) down 13%
- Blue Prism (LON:PRSM) down 17%
- Keywords Studios (LON:KWS) down 17%
- Learning Technologies (LON:LTG) down 21%
- First Derivatives (LON:FDP) down 30% (with the help of a short attack)
- accesso Technology (LON:ACSO) down 14%
My own portfolio hasn't gone unscathed. While I've had some success with Volvere …
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