The AIM Index has fallen some way short of matching Monday’s performance of the FTSE100 which once again posted a fresh all time closing high. The junior board however reached the bell around two and a half points lower at 871.85.
- Uru Metals +33%
- Maintel Holdings +26%
- Live Company +22%
- Petroneft -31%
- Mkango Resources -20%
Uru Metals LON:URU topped the board having advanced 33%, however it’s difficult to read too much into this, given the thin trades, incredibly wide spread and modest market cap. Volumes remain unremarkable and there’s no fresh news here following that supportive production news from a week ago.
Cloud storage play Maintel Holdings LON:MAI added 26% at 4.30pm, helping the telecoms stock reverse some of its recent losses off the back of the trading statement last month. However interest in the company has been somewhat limited with a modest number of fairly lumpy trades going through. It’s difficult to say with any confidence if this marks the start of a run higher, unless positive news is seen quickly.
Live Company LON:LVCG advanced 22% in the wake of news that one of its subsidiaries has signed a new branding and promotional agreement with a Japanese counterparty. The deal is worth $1m in year 1 and brings an iconic K-Pop festival to Japan for the first time.
- AIM Market Roundup: Mkango, N4 Pharma, Minoan
- Small Cap Stocks: Premier African, Global Petroleum, Helix Exploration
- Small Cap Stocks: Caledonian Trust, Quadrise, Hummingbird
Petroneft [LON:PTR] was at the foot of the board, down 31% at the bell. A company update released shortly before the close on Friday regarding a possible exit from its Russian assets was well received and saw the share price treble ahead of the weekend break so this looks like some opportunistic re-pricing off that, given the low volumes.
Mkango Resources [LON:MKA] also had a bad start to the week, ending Monday’s session 20% lower although this came off the back of funding news and reflects the discount at which the new capital was raised. Proceeds are to be used for a number of venture and general working capital needs.
