At 2pm, London’s AIM index sat almost five points higher on the day at 885.48.
- Phoenix Global Resources +32%
- Victoria +28%
- Kape Technologies +12%
- UK Oil & Gas -20%
- Bowleven -17%
Phoenix Global Resources LON:PGR was leading the pack at 2pm, up 32% on the day. Despite the £200m market cap, trades on the stock were extremely limited and have left the price being quoted with a very exaggerated spread.
Victoria PLC LON:VCP was in second place, up 28% at copy time. The stock has been on a tear since the start of the month and now trades at levels not seen since May. There’s evidently no news out to support the move, but sentiment is undoubtedly behind the stock – for now.
Kape Technologies LON:KAPE gets the notable mention, up 12% on the day following the publication of half year results this morning. Revenues were up by more than 200% whilst operating profits jumped 333%. The company believes it is well positioned to harness further growth in the future.
UK Oil & Gas LON:UKOG was the laggard at 2pm, off some 20% although that reflects news of the placing which was issued at a corresponding 20% discount this morning.
Bowleven LON:BLVN sold off sharply mid-session, although there has been no news behind the 17% decline. This does however reverse much of the gains posted over the summer, potentially hinting at the release of some less than stellar news, possibly regarding the company’s Etinde project.
