Risk off sentiment driven by investor concerns across the Atlantic as to just how high US interest rates will go has taken something of a toll on London’s AIM Index, with the market shedding almost six points on Wednesday to close at 854.44
- Echo Energy +36%
- Pantheon Resources +22%
- Time Finance +16%
- Atlantic Lithium -41%
- Infrastructure India -20%
Echo Energy LON:ECHO topped the board, adding 36% by the bell. There’s no news been released but buying activity started in the latter part of the session. The stock has had a torrid run both over the medium and long term, so today’s gains don’t make much of an impact but could brighter times lie ahead?
Pantheon Resources LON:PANR added 22%. The stock took a pasting at the start of the week which we noted at the time appeared as if it could have been rather overdone. Today’s uptick however doesn’t make that much of an impression on the recent losses.
- Small Cap Stocks: Aquis, Gfinity, Team Internet
- Small Cap Stocks: Genedrive, Tern, Conroy Gold
- Time Finance’s revenue, profit soar as it expands lending book
Atlantic Lithium LON:ALL was the day’s worst performer, off 41% after the company requested its shares be suspended pending an announcement. The scale of the sell off ahead of this call is however eye-catching.
A notable mention for Time Finance LON:TIME, up 16% off the back of a Q3 update which showed very strong profit growth off a 28% uptick in revenues. Expectations of full year results have been revised upward as a result.
Infrastructure India [LON:IIP] slipped 20% on the day although trade has been very limited in the £2m market cap firm, with shares sitting on an incredibly wide spread.
