London’s AIM Index managed to find some support in the latter part of the session off the back of an upbeat start to trade on Wall Street following softer than expected US inflation, reaching the bell almost six points higher at 920.51.
- Afentra +72%
- Loopup Group +24%
- Eurasia Mining +15%
- 88Energy -16%
- Cloudcoco -16%
Afentra LON:AET topped the board, rising 72% on the day after trade in the stock resumed following a lengthy suspension. There’s definite buying interest although valuations are deeply diminished from levels seen before the suspension.
Loopup Group LON:LOOP added a rather more modest 24% on the day, with elevated – although far from remarkable – levels of trade being seen. The stock has been struggling since the COVID pandemic put the brake on sales. There’s no specific news here but could this mark the start of a more optimistic period for the firm?
A notable mention for Eurasia Mining LON:EUA which advanced 15% on the day. This stock closed with a spread of almost 10% however despite what looked like some balanced trade. Any prospect of resolution in the Ukraine/Russia conflict could provide some further support here.
88Energy [LON:88E] was the day’s worst performer, off some 16% on the back of news that it was planning a discounted fundraising round. Given the discount was calculated as 18%, there’s at least a degree of confidence from investors here.
Cloudcoco LON:CLCO also struggled, off 16% at the close. The IT Services company hasn’t released any news here, but it does work with a number of high-profile clients. It’s worth noting however that a spread of 10% was quoted at the close, mitigating much of the downside.
