Markets – in particular US futures – may have attempted to put a brave face on the SVB bail-out, but optimism has been impossible to sustain on either side of the Atlantic. The AIM Index has spent the session so far squarely in reverse and by market close sat at 819.16 down 2.18%.
- Keras Resources +42%
- Agriterra +32%
- Condor Gold +13%
- Aferian -14%
- Saietta -14%
Keras Resources [LON:KRS] topped the board by 2.30pm, having added 42% and providing some welcome relief in a rather gloomy market. Volumes were sharply elevated across a limited number of trades but this is the second big step up for the stock in recent months. There’s no formal news out, although weekend media did flag a looming global shortage of phosphorous which would be good for the stock.
Arguably benefitting from read across from Keras, Agriterra [LON:AGTA] had a good session, at least on paper, adding 32%. This stock does however jump around and the spread was being quoted as close on 100%, although the share price is technically back at levels we haven’t seen since December.
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Aferian [LON:AFRN] was left propping up the board at our earlier than normal 2.30pm copy time. The company’s shares were rocked on Friday following a trading update and critically news that publication of full year audited results would be delayed. Today’s 14% fall is seemingly just a continuation.
Saietta [LON:SED] slipped close on 14% too. The company published an update last week that appeared to rattle investors. Something of a modest recovery was seen in the wake of this but gains have proven difficult to sustain – even confirmation that the company had no exposure to SVB was immaterial.
Condor Gold [LON:CNR] advanced 13% to get the notable mention. The company this morning published an update on an asset sale. The news here is relatively limited but does identify a meaningful number of buyers who have expressed an interest.