It’s been a relatively quiet day on London’s junior market with losses limited to less than three points. At the closing bell, the AIM Index sat at 923.82, reversing the gains seen over the last five sessions.
- Power Metal Resources +19%
- Empire Metals +17%
- Invinity Energy +15%
- Angling Direct -14%
- Barkby Group -13%
Power Metal Resources LON:POW found itself at the top of the board, up 19% on the day. The company provided an update on drilling exploration news this morning which management hailed as one of the most significant statements delivered to date. The fact that bigger gains were seen by the stock earlier in the week may however raise a few eyebrows…
Empire Metals LON:EEE found itself in second place, up 17%. Again the company provided an update this morning having identified significant structure at its Pitfield Copper-Gold project. Order flow in the £5m market cap company was however limited and the spread accounts for the bulk of gains.
Invinity Energy LON:IES gets the notable mention with gains of just 15% after the energy storage company announced it had successfully installed a 1.8MWh battery in the Orkney islands. That equates to enough energy to power 210 average UK households and harnesses power generated by tidal turbines.
Angling Direct LON:ANG was out catching crabs today, off 14% after the publication of a half year trading update. This flagged the inevitable impact of the cost of living crisis undermining consumer confidence, whilst the heatwave is also leaving many sites un-fishable. Despite that, full year revenues are only expected to be slightly below expectations, but the pre-IFRS 16 EBITA measure is likely to be significantly lower.
Barkby Group LON:BARK was 13% down at the bell. The company saw very limited trade on the day however and the spread was slightly wider than the day’s loss. No formal news, but the company’s leisure focused business will be looking exposed in the deteriorating economic climate.
