London’s AIM All Share started the day with a bounce, and whilst we’re still short of that psychologically significant 700 level, the eight and a half point gain by 10am left the index at 695.48 at our much earlier than usual copy time.
- Tungsten West +41%
- Savannah Energy +18%
- Team Internet Group +10%
- Versarien -12%
- iomart -12%
Tungsten West LON:TUN is marching higher in early trade. There’s no official news here but some general noise on socials may have driven the uptick in trade this morning. So far it has been a concentrated burst of buying.
- AIM Market Roundup: Serinus Energy, Clontarf Energy, Insig AI
- AIM Market Roundup: Priority Intelligence, Niox, Coral Products
Savannah Energy LON:SAVE is back on the radar, up 18% after its resumption of trade and the heavy selling that came with it yesterday. The fact the underlying didn’t fall as low as the new funding price is however worthy of note.
Team Internet Group [LON:TIG] was 10% higher, with some investors moving back in after Tuesday’s correction following news that there wouldn’t be a takeover bid forthcoming.
- UK Stock Market News: Abingdon Health, Wood Group, Team Internet
- TIG facing challenges amid takeover bids and revenue forecast dip
Versarien LON:VRS was the biggest faller by mid-morning, off a modest 12%. A general meeting has been called to enable management to raise more cash, something that is fundamental to the longer term survival of the company but comes with an inevitable dilution risk.
- Three Quick Facts: Tullow, Chapel Down, Versarien
- Small Cap Stocks: Vela Technologies, Caspian Sun, Nostra Terra
iomart LON:IOM was also 12% lower. There’s no news and this simply looks like an imbalance of buy/sell orders – worth watching as the day progresses as the stock has made reasonable progress over the last couple of weeks.
