The modest relief rally seen off the back of yesterday’s FOMC meeting minutes has been sufficient to help stem the recent sell-off that has been seen on the AIM Index. With Wall Street slipping again, the support here could yet prove short lived but at the close on Thursday, the junior market was around three points higher at 855.42.
- Star Phoenix +62%
- Synergia +43%
- Invinity Energy -12%
- China Nonferrous Gold -32%
- Made Tech -19%
Star Phoenix LON:STA had another stellar day, adding 62% by the closing bell. This is just a run on from yesterday’s gains off the back of the listing being reinstated, although it’s worth bearing in mind this is a small cap play and sat on a 20%+ spread at the close.
Synergia [LON:SYN] added 43% on the day, more than recovering yesterday’s losses which appeared to be in response to the CLN news. The financing rate here is however attractive.
A notable mention for Invinity Energy LON:IES [AQSE:IES], the dual listed AIM/AQUIS stock. Shares traded down 12% at the close in the wake of successful placing news, but this is fractionally higher than the 13.5% discount offered for the new equity. The company will use proceeds to support the expansion of activities in line with significant and growing demand for its products.
China Nonferrous Gold LON:CNG slipped 32% to find itself at the foot of the table. The stock is thinly traded but this afternoon a note was issued advising that snowfall and accompanying landslides had impacted production in Tajikistan, with the mine expected to remain offline for a month.
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Made Tech LON:MTEC was down 16% at the close, off the back of its half year results. Given the 76% uptick in revenues and 48% increase in profits, the market’s assessment of the stock may prove to be a harsh one in the short term although margins have been eroded and the contract backlog continues to grow too.
