That surprise improvement in UK PMI readings today added weight to the idea that the Bank of England may look to tighten interest rates yet further in the not too distant future, boosting the Pound and taking a toll on stocks. London’s AIM Index reached the bell four and a half points lower at 861.74.
- Keras Resources +36%
- Myanmar Investments +31%
- UK Oil & Gas +24%
- Heavitree Brewery -29%
- Versarien -15%
Keras Resources LON:KRS was the day’s biggest gainer, advancing 36% by the bell. There’s no news out and the number of transactions has been rather thin, but the rally does mean losses accrued last month have now been recouped.
Myanmar Investments LON:MIL added 31%, but again there’s nothing worth noting here. Trade has been limited and free stock is in short supply reflected in the proverbial mile wide spread.
A notable mention for UK Oil & Gas LON:UKOG which has seen a sensible 24% advance on the day in the wake of a report being published on the value its Loxley gas discovery south of Guildford. The post-tax, present value mid case scenario is £124m.
Heavitree Brewery LON:HVTA was the day’s biggest faller, off some 29%, but there’s not much to note here. Shares in the company have had a rough ride of late, despite last week’s bumper profits news.
- Three Quick Facts: Tullow, Chapel Down, Versarien
- Small Cap Stocks: Vela Technologies, Caspian Sun, Nostra Terra
- Small Cap Stocks: Eco Buildings, IXICO, Electric Guitar
Versarien LON:VRS slipped 15% in the wake of a results update covering the 18 months to 30th September. The key takeaway here seems to be the line that management need the “continuing support of investors, either strategic or from the capital markets, to fund the business until such time as the graphene market gains traction and material commercial revenues flow”.
