London’s AIM Index has found further support during the first half of Tuesday’s session, albeit modest in quantity, adding just over two points by midday to sit at 889.11
- Transense Technologies +31%
- Vela Technologies +30%
- Fevertree Drinks +11%
- Union Jack Oil -18%
- Inspecs Group -12%
Transense Technologies LON:TRT was leading the pack at copy time, up some 31% after the company announced pre-open that it had entered into a Memorandum of Understanding with Meggitt to evaluate licensing opportunities for its Surface Acoustic Wave sensor technology in aerospace. There has been some lumpy trade going through as a result, helping the stock recover the losses it accrued over the summer.
Vela Technologies LON:VELA also had a good morning, up 30% at 12pm. With a £5m market cap, this is something of a minnow but volumes have been significantly elevated today. An article published in the Lancet medical journal indicated a favourable – if not quite optimal – outcome for medical trials being conducted by a portfolio company. The jump today however only takes the stock back to levels seen a few months ago and is currently quoted on a significant spread.
Fevertree Drinks LON:FEVR gets the notable mention today, following the publication of interim results this morning. The company is seeing solid growth across all territories – especially mainland Europe – but management also believe it is well positioned to continue building on market share. The stock was 11% higher at midday.
Union Jack Oil LON:UJO was trading 18% lower at midday, with the publication of an independent reserves report hinting at upside potential perhaps failing to get the intended response from shareholders. However this stock has had a strong run since the end of July, suggesting this news may have acted as the trigger for some to book profits.
Inspecs Group LON:SPEC saw more selling this morning, taking the stock down 12% to fresh all time lows as a result. The downside here does seem to be the cause of some concern given recent upbeat earnings news, but the share price has lost more than 50% of its value over the last three months. Is news coming?
