Risk appetite returned to London this morning, lifting stocks across the board and the AIM All Share was a grateful recipient of the cheer. The index closed up more than four points at 693.17.
- Strategic Minerals +27%
- Galileo Resources +19%
- Light Science Technologies +15%
- ADM Energy -30%
- Ethernity Networks -29%
Strategic Minerals LON:SML added 27%. There’s no news here but the company did provide an update on a drill site about five weeks back, which included a note saying that further news would be provided in due course. Is that imminent?
Galileo Resources LON:GLR was up 19% at the bell. There’s no news but copper prices are on the rise and the company may be poised to release an update in the coming days.
Light Science Technologies LON:LST added 15% on the day with final results being the catalyst here. Record revenues were bolstered by a 7% uptick in margins to 30% with the company trading close to breakeven.
ADM Energy LON:ADME was in last place. There was news this morning of an extended funding round which is going to further dilute existing shareholders. A share consolidation is also due at the end of the week.
Ethernity Networks LON:ENET was 29% lower. An EGM has been called to enable management to issue fresh equity in the business, which could have a substantial dilutive effect on existing shareholders.
