Another down day for London’s junior market with the AIM Index shedding just over nine points by the closing bell to sit at 909.33.
- Gfinity +26%
- Kromek +21%
- Oracle Power +14%
- Tanfield Group -25%
- Sabien Technology -21%
Gfinity LON:GFIN topped the board, reaching the bell some 26% higher. The e-sports concept has been pushed back into focus as a result of its inclusion in the Commonwealth Games but whether that’s sufficient to qualify this move seems difficult to call. Volumes on the day have however been notably elevated.
Kromek [LON:KRK] found itself in second place. Full year results and news of a solid order book yesterday failed to provide any meaningful support for the stock, so today’s 21% advance may simply be the market playing catch up.
A notable mention for Oracle Power LON:ORCP which advanced 14% on the day. The £9m market cap company announced this morning that it is set to receive a letter of intent regarding the development of a green hydrogen plant in Pakistan. This is the latest such project update to be delivered by Oracle, which again has the support of members of the UAE Royal family.
Tanfield LON:TAN was at the bottom of the list, off 25% at the bell. As we’ve seen before however this is a minnow of a company that trades on an incredibly wide spread. There’s really nothing to conclude from this.
Sabien Technology LON:SNT had given up 21% by the close in the wake of a £500,000 placing. The fact that shares trade above the offered price is perhaps something to cheer, but limited transaction numbers suggest this might have further to run.
