London’s AIM Index has had a good start to the week, advancing almost 11 points and is on course for what could be its biggest one-day percentage gain since mid-May. The junior market closed at 885.16, reversing at least some of last week’s losses.
- Vast Resources +20%
- Block Energy +16%
- ITM Power +12%
- Asimilar Group -11%
- Empyrean Energy -9%
Vast Resources [LON:VAST] had a good start to the week, advancing 20%. Volumes were unremarkable and the quoted spread does account for most of the upside here however so it’s difficult to pin the gains on anything meaningful.
Block Energy [LON:BLOE] also made some progress in a relatively benign market, advancing 16% by the bell. The company’s AGM is imminent and some may be hoping for a bout of good news here but underlying trades were thin on the ground and volumes looked far from remarkable, either. Could be a case of wishful thinking rather than anything concrete.
There’s a notable mention for ITM Power. [LON:ITM] The green hydrogen company continues to trade well below the levels seen a couple of years ago, but did retake the 200p level – albeit briefly – for the first time in almost a month, before finishing the session up just over 12%. There’s no specific news but the green energy sector has been in focus today, largely off product development, so this could be read-across from elsewhere, with the idea that Russian gas may soon be cut off completely adding further support given the company’s German links.
Asimilar Group [LON:ASLR] found itself at the foot of the board, with the stock now sitting below the lows from late June. Again there has been limited volume but messages over portfolio holdings in the recent interim results may make this an interesting play for those with a longer term horizon.
Empyrean Energy [LON:EME] also struggled, finishing just a shade over 9%. However limited trade has been seen in the £9m company and the fall sits within the quoted spread.
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