London’s AIM Index has struggled to make any real progress through Thursday’s session, stuck in a narrow channel and failing to find any support off GBP weakness. At the close, the index sat less than point lower at 843.01.
- Online Blockchain +43%
- Argos Resources +29%
- Osirium Technologies +28%
- Angle Plc -37%
- Immupharma -15%
Online Blockchain LON:OBC moved 43% higher on the day, although orders were limited and at the close a spread of some 20% was being quoted. There’s no official news here but this does recoup those losses seen off the back of the final results before Christmas.
Argos Resources LON:ARG advanced 29% on the day, finding itself in second place at the bell. The £3m company however sits on an incredibly wide spread and again few deals were struck on the day. With no news, it seems likely that attempts at bargain hunting are the only driver.
Osirium Technologies LON:OSI gets the notable mention, up 28% at the bell. This extends the run up that started yesterday after an investor disclosed an 8% stake in the business, with the Osirium share price now up an impressive 63% from where they started the year.
- Three Quick Facts: Norman Broadbent, Computacenter, Immupharma
- Small Cap Stocks: Immupharm, Ondine Biomedical, Beacon Energy
- SmallCap Stocks: Filtronic, Angle, Aptamer
Angle Plc LON:AGL was the biggest casualty on Thursday, sitting 37% lower at the bell. A business update this morning presented something of a mixed bag with investors seeming to take the glass half empty view of macroeconomic headwinds. There’s sufficient cash to last well into 2024, but concerns over monetisation do seem to be prevailing.
Immupharma LON:IMM was the day’s second biggest faller, although losses were a relatively modest 15% by the bell. This is likely the result of profit taking after yesterday’s gains but it’s worth noting that the number of reported trades has been relatively low.
