London’s AIM Index managed another day of admittedly modest gains, with the positive start on Wall Street helping galvanise sentiment. At the bell, the junior market was almost three points higher at 868.94.
- IDE Group +41%
- ValiRx +26%
- Katoro Gold +18%
- Phoenix Global -24%
- Cenkos Securities -16%
IDE Group LON:IDE topped the board, finishing the day 41% ahead. There’s no news here but the bounce has helped recover recent losses picked up after notifying the market of a delay to the publication of results. Could this mean that an update is now looming?
ValiRx LON:VAL put in another strong day, advancing 26%. This morning the company announced the appointment of an interim chief scientific officer and today’s gains take the cumulative upside on the week so far to somewhere in the region of 60%.
Katoro Gold LON:KAT gets the notable mention, advancing 18% although this arguably just reverses yesterday’s slump in the stock. Trades were thin on the ground and although some may have felt the return to the July lows presented a buying opportunity, this does sit on a fairly wide spread.
Phoenix Global LON:PGR was the worst performer on the day, closing some 24% lower. The company is currently in the process of delisting from AIM and yesterday presented the last opportunity for shareholders to exercise ano-cost exit option.
Cenkos Securities LON:CNKS also struggled, showing 16% lower at the bell. The publication of interim results this morning showed a 30% decline in revenues and turning the £1.7m pre-tax profit of a year ago into a £0.5m loss. The company acknowledges it has been a tough start to the year but that it was also responsible for 23% of all money raised on AIM over the six month period.
