London’s AIM Index has managed to hold onto positive territory despite that gloomy assessment from the Bank of England. The fact Sterling hasn’t found support off the 50 basis point rate hike is arguably lending support too with the junior market reaching the bell just under two points higher at 922.14.
- Agriterra +24%
- Oxford Biodiversity +20%
- Falanx Group +17%
- Inspirit Energy -13%
- Global Petroleum -9%
Agriterra [LON:AGTA] has topped the board, advancing 24% by the bell. However we’ve seen this before, it’s a minnow of a stock, very thinly traded and sits on a phenomenally wide spread. Nothing to see here.
Oxford Biodiversity [LON:OBD] also had a good session, reaching the bell 20% up. There’s some hope that sales from its EpiSwitch CiRT will soon start to pick up, but no formal news yet. This move does however help lift the share price away from last month’s lows.
A notable mention for Falanx Group [LON:FLX], up 17%. A trading update this morning has provided some support, but the stock has been struggling for some time now. The business is looking at a brighter outlook and that it has £2.7m cash on hand against a £4m market cap, but as with any people-focused business, cost pressures will come to bear in the months ahead.
Inspirit Energy [LON:INSP] was the day’s laggard, off 13% at the bell. However, it’s been a day of light, one sided trade and the spread accounts for around half the loss. Difficult to find much to pin this on.
Global Petroleum [LON:GBP] also flagged, off 9% at 4.30pm. Again this is a small cap – £3m – stock which has seen limited trade on the day. There’s some media comment floating around here, but whether that can be linked with any confidence to the move seems something of a stretch.
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