London’s AIM Index managed a modestly positive start to the week, although the prospect of some potentially short-lived political stability certainly didn’t translate into a banner day for equities. By 4.30pm the junior market was just over two points higher at 787.45.
- Mosman Oil & Gas +54%
- Mirriad Advertising +29%
- MobilityOne +19%
- Aferian -37%
- Fulcrum Utility Services -36%
Mosman Oil & Gas LON:MSMN topped the board adding 54% by the bell. The company issued two statements this morning, notably that a well in Texas was moving towards production, along with a prospective resource estimate for a hydrogen and helium project in Australia. Volumes were showing as being dramatically elevated from usual levels, although this did also have a closing spread of some 15%.
Mirriad Advertising LON:MIRI advanced 29% by the bell, although gains were close on 100% by mid session. This promoted the company to issue a speeding ticket, stating they had no knowledge of the sharp increase in share price. Whilst the gains are impressive, it’s worth noting that the stock has been languishing around multi-year lows, having lost more than 90% of its value over the last 18 months.
MobilityOne LON:MBO gets the notable mention today, up 19%. The share price has been on the up since that disposal news of last week and today the bulls were back for another go, although the stock has closed off the morning’s highs.
Aferian LON:AFRN was down 37% at the bell, with this morning’s trading update failing to find much cheer. The B2B video streaming company noted that some customers were pulling back on spending. The prospect of an eroded cash balance by year end may also be taking a toll.
Fulcrum Utility Services LON:FCRM fell 36% on the day, with a trading update again weighing. Whilst there are some headwinds being seen as a result of the turbulence in energy markets, a cybersecurity incident last month has also squeezed cashflow as invoicing was delayed. As a result the company is talking to major shareholders to ensure there’s sufficient headroom.
