AIM market hit by delistings Aim, the market for smaller shares, saw 25 companies leave during the second quarter of the year, eleven more than the previous quarter and the largest number of exits since the first three months of 2012, according to accountancy firm UHY Hacker Young. Seven companies delisted because of financial difficulties and insolvency, the most for a year and a sharp rise from the two groups that left for the same reason in the first quarter. Ten companies disappeared as a result of mergers and takeovers, but 15 groups listed on Aim during the period, partially offsetting the departures. "While the number of new listings is up, this is outweighed by a substantial increase in the number of companies de-listing from the market, so the Aim market is shrinking again," said Laurence Sacker, a partner at UHY. The fact that a substantial proportion of these delistings is due to M&A is good news, however the sudden increase in the number of de-listings due to financial stress in particular is evidence of how much impact the prolonged recession has had on small caps. The last month and a half has seen global stock markets hit by broader investor worries that central banks, particularly the US Federal Reserve, will slow their stimulus programmes, concerns that sparked a sell-off and considerable volatility. By pushing down bond yields and so making shares more attractive to investors, quantitative easing had driven equities higher earlier in the year, with the FTSE 100 in May reaching its best level since in thirteen years. The continuing turbulence may also hit Aim, by deterring companies from floating on the market, Mr Sacker said.