It has been a mixed day for global equity markets as investors try to evaluate the deterioration in geopolitical sentiment following events in Qatar and Poland overnight. Whilst some bourses have recovered, the AIM All Share has been left languishing closing down almost seven points on the day at 761.62.
- 80 Mile +106%
- TAP Global +95%
- Genedrive +53%
- Active Energy -44%
- Finseta -22%
Critical metals exploration company 80 Mile [LON:80M] saw its share price surge today after news that a joint venture project had been given a highly favourable valuation. The 30% of the project owned by 80 Mile has been priced at $92m, well in excess of the current market cap. The share price added 106%.
TAP Global [LON:TAP] was 95% higher on the day. There’s no news here but significantly elevated volumes have been noted and the stock finally seems to be responding to last week’s news of an open banking partnership, with media coverage of the deal continuing.
- AIM Market Roundup: Eco Atlantic O&G, Mirriad Ads, TAP Global
- AIM Market Roundup: Empyrean Energy, Blackbird, Tap Global
Genedrive LON:GDR gets the notable mention, up 53% with two reportable holdings in the stock having been disclosed shortly before the end of the day. With the share price having traded down to all time lows earlier in the week, clearly someone is sensing a bargain.
- AIM Market Roundup: Genedrive, Image Scan, Kodal Minerals
- AIM Market Roundup: Genedrive, Idox, Diales
Active Energy LON:AEG was 44% lower following the completion of a funding round. Shares were offered at a 50% discount and the deal was reported as being significantly oversubscribed with net proceeds be deployed across a number of opportunities in the renewable energy/power sectors and for general working capital purposes.
Finseta [LON:FIN] was 22% lower with the move coming off the back of interim results which were released this morning. This included news that management had taken a more cautious view of business in the second half of the year and now expects to report revenue growth of 11%. Margin contraction of around 3% was also noted.
