The AIM All Share had an uneventful day, trading essentially sideways and finishing just half a point lower. No surprises that the Bank of England left rates unchanged but with a hawkish bias emerging, any real lack of enthusiasm for equities is understandable. The index was trading at 771.37 by the bell.
- Mosman Oil +31%
- Tekcapitak +21%
- ECR Minerals +17%
- Genincode -18%
- TAP Global -18%
Mosman Oil LON:MSMN was the biggest gainer on the day, adding 31% following news of an independent resource evaluation for a project in Colorado where the company owns an 82.5% interest. Helium reserves worth as much as $80m have been identified.
Tekcapital LON:TEK was 21% higher following news that a portfolio company has filed an IPO application in the US. Guident has been estimated to be worth north of $100m and Tekcpaital owns 70% of this. Should the IPO proceed at this level, the outcome would be transformative.
- Tekcapital eyes windfall as Guident files for US IPO
- UK Stock Market News: RentGuarantor, Tekcapital, Light Science Technologies
ECR Minerals LON:ECR added 17% and that move coincided with the signing of a heads of terms on a JV. The partner will invest as much as AUD3 million over four years but will earn an interest of up to 80% in the project.
Genincode LON:GENI was 18% lower with the company giving back some of the recent gains. Management issued a speeding ticket yesterday to say they had no knowledge of why the share price had jumped at the start of the week, although there’s speculation that an update from the FDA may be imminent.
- AIM Market Roundup: Genincode, Silver Bullet, Focusrite
- AIM Market Roundup: Westmount Energy, Simec Atlantis, CAP-XX
TAP Global [LON:TAP] was 18% lower. There’s no specific news here but the stock continues to give back some of the gains posted at the start of the month off that open banking partnership. However orders were thin on the ground and the spread is quite wide.
Comments (0)