Last night’s more dovish than expected statement from the Federal Reserve was sufficient to lift stocks in London this morning, too. The AIM Index reached the bell more than eight points higher at 911.34.
- Bowleven +30%
- AMTE Power +27%
- Atome Energy +17%
- Ince Group -55%
- Trackwise Design -20%
Bowleven LON:BLVN topped the board, continuing its run of gains by tacking on a further 30%. There’s still no formal news here and the spread has come in a bit from yesterday, but trading activity remains significantly limited.
AMTE Power LON:AMTE was in second place, 27% ahead at 4.30pm. This morning the company announced that it had selected Dundee as its preferred site for its first MegaFactory. This has been pushed through off the back of a support package from Scottish Enterprise and although details are scant here, the total financing required could be as much as £190 million. With a market cap of less than £30m, such a move would be transformative.
A notable mention for Atome Energy LON:ATOM which added 17% on the day after the company announced the next step forward in its 400MW green hydrogen and ammonia project in South America. Completion is still almost three years away however and with thin volumes, the spread here looks rather inflated.
Ince Group LON:INCE found itself at the foot of the table by 4.30pm after the announcement of a heavily discounted placing of stock. The company faces significant headwinds even with this fresh investment owing to a range of factors.
Trackwise Design LON:TWD was the second worst performer, off 20% at the bell. A trading update published this morning saw revenues climb but the operating loss trebled and the company’s previously stated cash position of £11m is now a £2m debt. Management struck an upbeat tone in the note but this evidently hasn’t resonated with investors.
