London’s AIM Index perhaps unsurprisingly failed to find much inspiration from the Bank of England’s 50 basis point rate hike today, finally closing down almost eight points at 847.42.
- Cornerstone +22%
- Woodbois +15%
- Atlantic Lithium +10%
- Biome Technology -53%
- Katoro Gold -18%
Cornerstone Financial Services LON:CSFS was the day’s biggest riser, adding 22%. Gains however were seen off the back of a small number of trades late in the session and the stock was carrying a spread of close on 7% by the end of the day. There may be some bargain hunters here but questions can arguably be asked over the potential of this sector as we face mounting economic headwinds.
Woodbois LON:WBI was the second biggest gainer, up 15% by the bell. There’s no formal news here, but the stock saw meaningful gains across the session, backed by a marked increase in volumes. One to watch for news next week, maybe?
Atlantic Lithium LON:ALL gets the notable mention, up 10% at the end of the day. Having been admitted to the Australian exchange on Wednesday, the company issued a statement today heralding some significant upgrades in terms of outlook.
Biome Technology LON:BIOM found itself at the bottom of the pile, off some 53% at the close. This morning’s interim results received a lacklustre reception as despite revenues and profits looking stable, lead time delays appear to be spooking investors.
Katoro Gold LON:KAT also found itself struggling, closing some 18% lower. This is however a minnow of a stock, valued at just £1m, which saw a handful of trades during the day and the downside was just within the spread to boot – nothing to see here…
