Solid gains across many Asian indices overnight appear to have bolstered market confidence in Europe too, with the AIM Index reaching the bell on Tuesday just over seven points ahead at 813.45.
- Osirium Technology +73%
- Tekmar Group +25%
- Boohoo +17%
- Bowleven -25%
- Westminster Security -25%
Osirium LON:OSI finished the day ahead of the pack, closing up some 73% off the back of this morning’s trading update. The group noted a continued uptick in revenues and confidence over its longer term performance given the growing demand for services in the sector.
Tekmar Group LON:TGP reached the bell in second place, some 25% ahead. The share price has had a rough few months but there’s some optimism emerging that better times could lie ahead. Around three weeks ago the company advised it was undertaking a strategic review so could news be imminent here?
Boohoo LON:BOO gets the notable mention, up 17% and closing at levels not seen since late August. Volumes were elevated and although there’s no formal news out today, this does seem to be backed by the idea that the bout of shorting seen against the stock may now be considered overdone. Will tomorrow’s earnings from Next provide more impetus here?
Bowleven LON:BLVN was the worst performer, down some 25% at 430pm in the wake of full year results published this morning. Despite the CEO attempting to paint an upbeat picture, pressure was evidently weighing on the downside with the wide spread suggesting that market makers had little confidence here.
Westminster Security LON:WSG was also off 25% at the bell. That came off the back of a trading update which cautioned that FY revenue outruns would be around a third lower than market expectations, largely as a result of project slippage. Volumes were elevated but there’s arguably a degree of consolation to be found here in the wide spread that was being quoted at the close.
