London’s AIM Index found some modest optimism during today’s session as oil prices slipped back and suggestions that there may be a glimmer of hope over a solution to the Russia/Ukraine crisis. The junior market spent much of the day flitting around the 1,000 level although slipped back just at the bell to end up four points at 999.7.
- Abingdon Health +46%
- Uru Metals +27%
- Staffline +18%
- Hutchmed -12%
- Amte Power -10%
Abingdon Health [LON:ABDX] was the day’s best performer at 4.30pm, adding 46%. There’s no news out but this £16m market cap company still has a £46m unpaid debt with the government so settlement of this would have a material outcome for shareholders. A judicial review is set for May but could this be concluded early?
Uru Metals [LON:URU] also had a good day, adding 27% by the bell. This however is a minnow of a company and closed trading on a colossal spread. Few trades have been completed too, suggesting there’s nothing to see here.
Staffline [LON:STAF] gets the day’s notable mention, up 18% by the bell. Shares in the company have been under pressure since mid-February but amidst suggestions that it is now simply too cheap, some limited support does seem to be emerging. Again there’s no formal news.
Hutchmed [LON:HCM] was the day’s worst performer, closing off some 12%. The stock was under pressure before the weekend break and this is persisting with suggestions that its listing may be in breach of newly implemented US laws. This could necessitate the company – amongst many others – relinquishing its valuable US listing.
Finally, Amte Power [LON:AMTE] slipped 10% on the day. Despite the company’s operation in the green energy space, the shares have been under sustained pressure since the IPO a year ago, Today’s decline is arguably modest but shows a distinct lack of support for the business at a time when the sector has never been more relevant.
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