At 3pm, the AIM All Share Index was trading modestly higher on the day, broadly outperforming other indices both in London and further afield. The uptick was however limited, at just over 4 points with the index trading at 778.02 at our early copy time.
- N4 Pharma +45%
- Future Metals +29%
- Star Energy +19%
- WH Ireland -80%
- OPG Power -18%
N4 Pharma LON:N4P was the day’s performer at copy time, trading some 45% higher. The company announced findings this morning from a research collaboration which have been seen as hugely positive in terms or targeting specific cells for lung cancer treatment.
Future Metals [LON:FME] added 29% on the day, although there’s no news in play and order flow has been lumpy. That reflects the strong start to the week seen on the stock’s Australian listing.
Star Energy [LON:STAR] gets the notable mention, up 19%. That coincides with news of a reportable stake being built up by a Swedish entity, although the scale of the purchase is closely aligned with a disposal reported at the end of last week. The spread is around 10% and volumes are far from high.
WH Ireland LON:WHI was the biggest faller down 80% at copy time after this morning’s announcement that management were seeking an orderly winding down of the business. Whilst there will be a distribution to shareholders, the company remains loss making and this is likely to be limited.
OPG Power LON:OPG was the second biggest faller, off 18%. The company advised this morning of a change in Indian tax legislation which will increase its costs by approximately £2.5m annually. With operating profits for the last financial year reported as £8.1m a few weeks ago, the impact here will be noticeable.
