London’s AIM index slipped a little further today, but losses were far more restrained that we saw at the start of the week. The junior market reached the bell just over two points lower at 1196.76.
- Catenae Innovation +47%
- Netscientific +16%
- Falcon Oil & Gas -17%
- Mobile Tornado -13%
- Online Blockchain -10%
Catenae Innovation LON:CTEA surged to the top of the leaderboard, adding 47% by the bell. There’s no firm news but the company has previously found favour off the back of its work in a COVID app. Given yesterday’s posturing by government over how the landscape may yet need to change, this may well have lent support but the stock remains significantly depressed, has a £3.5m market cap and trades on a >10% spread.
Netscientific LON:NSCI came a distant second on the board today, adding some 16%. There’s no news out but on Friday a director buy was recorded, whilst other signs of stakebuilding have been noted in recent weeks. Certainly one to watch.
Falcon Oil & Gas [LON:FOG] sits at the bottom of the board, having retreated some 17% during the day’s trade. The share price has been under pressure since the start of the year, but today’s marked decline comes in the wake of news that a downhole flow restriction has been identified at a drill site. Operations are being paused whilst this is investigated…
Mobile Tornado LON:MBT slipped 13% making for the second worst performance, but deals were thin on the ground and the share closed with a spread in excess of 10%. There doesn’t seem to be much worth reporting here.
A notable mention for Online Blockchain LON:OBC which is unsurprisingly finding itself pressured as cryptocurrency prices slide. Shares are down 10% on the day, but have lost around 75% since the BTC highs back in February. There’s a definite correlation here and given the difficulties faced by UK investors when it comes to buying cryptos on a regulated basis this certainly makes for a proxy trade. The bigger question is, what does the near term future hold for digital assets…
