It’s been another day of losses for London’s AIM index, shedding more than eleven points by the close as those rate hike fears from across the Atlantic continue to build ahead of next week’s FOMC meeting. At 4.30, the junior index sat at 839.69
- 7Digital +23%
- Genedrive +16%
- Oxford Metrics +12%
- Versarien -35%
- Edenville Energy -24%
7Digital LON:7DIG topped the board adding 23% by the bell. Whilst the company did secure a fresh loan from a director today, given the move is within the spread and gains had been tacked on through the session, it seems a bit much to try and pin the gains on this news.
Genedrive LON:GDR added 16% by 4.30pm. There’s no news here although the company did announce the timing of its AGM yesterday so there may be some anticipation that good news is on the way despite the ongoing headwinds.
Oxford Metrics LON:OMG get the notable mention, up 12% off the back of full year results. A record order book is underpinning forward revenues, demand remains upbeat and issues cause by global supply chain disruption are now abating.
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Versarien LON:VRS was the day’s biggest faller, off 35% by the close. The company announced a placing this morning with the proceeds being used for the continuation of commercialisation work and to support general working capital requirements. The fact that the decline leaves the stock trading at a modest premium to the new issuance is worthy of note.
Edenville Energy LON:EDL slipped 24% again following placing news and an operational update. New shares were issued at 7p but the stock closed around 8p, reflecting confidence in the financing move to help pad out cash reserves. Strong sales pipelines are being reported, with demand for coal rising – along with prices paid – given the current state of energy markets.
