London’s AIM index managed to find some modest support in the early part of the session and largely held onto gains throughout, closing almost three points ahead at 1248.13
- Abingdon Health +39%
- Panthera Resources +18%
- MyHealthChecked +9%
- Biome Technologies -19%
- Fulcrum Utilities -14%
Abingdon Health [LON:ABDX] topped the board, with shares adding 39% by the bell. There’s no specific news out but with COVID testing being ramped up globally – media reports note that the Netherlands is now out of capacity – companies involved in this space could be set for a busy few months. The position could be further compounded by the fact that some government contracts signed with other providers are under scrutiny and this could tip the balance going forward.
Panthera Resources [LON:PAT] has been in favour all week, but has so far fallen short of hitting our radar. Today’s gains of 18% have however left the stock in second place, with the price continuing to react to Monday’s news that it had settled an outstanding agreement with a JV partner, providing valuable clarity for investors. The stock has now added 50% over the last week.
A notable mention for MyHealthChecked [LON:MHC], another firm involved in COVID diagnostics, whose shares added 9% by the close. Again, no firm news here but the sector more broadly seems to be in favour so the question is what further price action will be seen going into the weekend break?
Biome Technologies [LON:BIOM] found itself at the foot of the board today, down some 19% in the wake of a trading update. Directors noted that the timing of certain projects would mean that revenues in the final quarter would fall short of expectations and this will have a meaningful impact on numbers for the full year.
Fulcrum Utilities [LON:FCRM] shares fell sharply at the open amidst sector-wide concern over the energy distribution market. An update issued early afternoon helped reverse around half of the losses leaving the stock seven places from the foot of the board, some 8% lower, but perhaps underlining the effectiveness of this direct communication from management to investors, offering clarity and a degree of reassurance.