It’s been another down day for UK equities in general with Sterling strength taking a toll. GBP/USD has tested levels not seen since the end of August, leaving the AIM Index down almost three points by the bell at 848.82.
- Shield Therapeutics +26%
- Craven House +20%
- Scirocco Energy +20%
- Trackwise Design -17%
- Baron Oil -16%
Shield Therapeutics LON:STX was the day’s best performer, adding 26% by the closing bell. Volumes were moderately elevated but there’s no news out to support the move and a false dawns like this have been seen before.
Craven House LON:CRV advanced 20% following the publication of an investee company update for Garimon. The subsidiary, of which it owns almost 30%, has been given a cash valuation of $5m and given Craven’s own modest market cap this is worthy of note. However the underlying stock is very thinly traded and sat on a spread of more than 50% at the close.
Scirocco Energy LON:SCIR advanced 20% by the bell, helped along by notice of an investor event, but this is a minnow of a company and trades on a wide spread. Given the longer term performance of the stock too, few will be ready to cheer this news.
Trackwise Designs LON:TWD was off 17%. There’s no firm news out here but this move has unwound most of the gains seen off the back of the OEM deal which was announced around three weeks ago.
Baron Oil LON:BOIL slipped 16% off the back of news that it was to conduct a placing. Despite the sell off, the stock still trades at a modest premium to the new issuance price, suggesting that investors remain confident over the outlook.
