London’s AIM All Share failed to find much birthday cheer as the junior market marks its 30th anniversary today. Hotter than needed inflation prints meant the Bank of England made the good-as-inevitable call to keep interest rates on hold, offering no respite for stocks. The index was trading almost four points lower at 759.62 by 4pm.
- Quantum Blockchain +46%
- Savannah Energy +46%
- ECR Minerals +26%
- Revolution Beauty -35%
- Litigation Capital Management -29%
Quantum Blockchain LON:QBT was the biggest riser, adding 46% on the day following the publication of a business update. This sees the company moving towards agreements to provide its methodology to third parties at scale.
- AIM Market Roundup: Quantum Blockchain, Empyrean Energy, Volex
- AIM Market Roundup: Quantum Blockchain, Seeen, Earnz
Savannah Energy LON:SAVE was also 46% higher at 4pm. The stock has more than recovered the recent losses, volumes were moderately higher than usual and an 11% spread was being quoted, although there’s no apparent news behind the move.
ECR Minerals LON:ECR gets the notable mention, up 26% following an operational update from its Queensland projects. Management note key milestones as having been achieved, with the company on or under budget – and on schedule.
- UK Stock Market News: Wetherspoon, FW Thorpe, ECR Minerals
- AIM Market Roundup: Mosman Oil, Tekcapital, ECR Minerals
Revolution Beauty LON:REVB was 35% lower following this morning’s news that Frasers would not be proceeding with a possible acquisition of the business. Despite other parties having expressed interest, it seems clear that the market would have favoured a move from the retail heavyweight.
Litigation Capital Management LON:LIT was 29% lower at 4pm. The company published an update this morning, having lost a case it was pursuing and adding that in the second half the number of realisations has been modest with two wins and two losses. The first half was more productive but investors have pushed the share price to all time lows off the back of the news.
