FTSE AIM All-Share watch: Index enjoys stable start to the week

on Nov 18, 2013
Updated: Oct 21, 2019

iNVEZZ.com, Monday, November 18: The FTSE AIM All-Share Index has been stable today, bolstered by hefty gains from JSJS Designs Plc (LON:JSJS), a company that designs and develops home automation systems, and medical devices developer Mediwatch Plc (LON:MDW). Amongst the fallers, investing company Mercer Resources Plc (LON:MCR) has seen the biggest losses with sports nutrition technologies developer Provexis Plc (LON:PXS) in second spot.

Investors’ focus this week is on the minutes from the US Federal Reserve’s October FOMC meeting due to be published on Wednesday. The minutes are expected to provide additional clues about the Fed’s stance on the US economy. Last week, the Fed’s chair-in-waiting Janet Yellen defended the bank’s quantitative easing programme, providing a boost for the stock markets.

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**Top gainer**
JSJS Designs, designer, developer and manufacturer of home automation systems, has emerged as the biggest winner in the alternative market today, with a gain of 45 percent to 0.560p as of 15:05 UTC. The share price surged following the company’s announcement of an order for their LightwaveRF product range – a range of intelligent dimmers, radiator valves, sockets and sensors that allow people to control the heating, power and lighting in their homes using their smartphones – from its exclusive UK distributor Megaman.

The company, which to date has shipped a total value of over $200,000 to Megaman, said it has received additional orders of $2,886,328. The orders are scheduled to be dispatched by the end of April 2014, according to a company press release.
The company’s chairman and chief executive officer commented: “These orders alone represent more than a doubling of the Company’s turnover in FY 2013/14 once delivered. They also reflect the power of the distribution and working capital muscle that Megaman brings to our market leading products. We expect more orders in due course for our new heating products which we are now installing under contract at Warwick University as previously announced.”

The new order follows September’s appointment of Megaman as JSJS Designs’ sole distributor in the UK, which was effective from November 1.
Mediwatch gained around 40 percent to 5.72p after Laborie Medical Technologies Europe said it had made a recommended offer of £8.48 million for the developer of medical devices. The offer price represents a 118 percent premium to Mediwatch’s closing price on October 17.
**The FTSE AIM All-Share index 1.56 points or 0.2 percent lower at 809.94 as of 18.11.2013, 15:32 UTC.**
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