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  • ADM Energy +31%
  • Helium One +28%
  • Rosslyn Data -13%
  • Borders & Southern Petroleum -13%
  • Online Blockchain +9%

ADM Energy [LON:ADME] topped the board on Thursday, advancing 31% by the close. The underlying sentiment here appears to be broadly negative with trading conditions in West Africa remaining difficult, but with shares having been trading at all time lows until earlier in the week, there could be a degree of short covering in play here.

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Helium One [LON:HE1] also fared well, rising 28% on the day although there’s no news at all out to support the gains. Volumes traded were significantly elevated on Thursday, making for one of the busiest days in more than four months, but the obvious question to ask is whether gains can be sustained.

A notable mention for Online Blockchain [LON:OBC] whose shares added 9%. The rebound in crypto pries appears to be helping lift the stock off multi-month lows but there’s no news beyond this.

At the foot of the board, Rosslyn Data [LON:RDT] was the worst performer, sliding 13% in the wake of a trading statement. This included a downward revision to revenue estimates, with the company struggling to win new contracts as a result of the pandemic. There is however a belief that the significant opportunities are available to drive future growth but clearly that isn’t resonating with investors right now.

Borders & Southern [LON:BOR] also struggled, falling 13% on the day. Again no news here but patience amongst investors could now be wearing thin, with the shares having failed to make any progress for the last few months and suggestions that cash – last reported on 30th June at just $1.35m – could be starting to run thin.

Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Tony Cross

Tony Cross

Tony Cross is a market commentator with over 15 years of experience, producing compelling, insightful copy for journalists and investors alike. Focusing on macroeconomics, UK blue chip equities and inter market analysis, Cross's commentary is well regarded for its clarity and ability to cut through the waffle. He has been quoted in publications as diverse as The Financial Times, The Times, The Guardian and The Sun. He has also been a regular guest on both Share Radio and TipTV.

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