Despite holding around the break even point for most of the session, London’s AIM index slipped into the close, tracking US markets lower to finish down just over four points at 1150.11
- Alba Minerals +30%
- Uru Metals =+24%
- Advance Energy -85%
- Best of the Best -37%
- Eve Sleep -31%
Alba Minerals LON:ALBA topped the board today, with a sustained run of buying from the chairman seeming to be behind the support. The investment was a rather modest £15k, but this served to drive shares up by some 30% at the bell.
Uru Metals LON:URU also fared well, up 24% on the day. A majority owned subsidiary company has confirmed that it will begin trading on OTCQB junior market in the US, something which has the potential to boost its valuation significantly.
Advance Energy LON:ADV was the day’s worst performer, with shares collapsing by 85% off the back of a drilling update. This highlighted that processing techniques employed on the project have so far failed to resolve issues present in the field and investors have been quick to dump the stock as a result.
A half year report from Best of the Best LON:BOTB left the entertainment company floundering as shares retreated 37% on the day. Higher acquisition and prize costs have eroded margins om broadly stable revenue. The outlook for the full year up to the end of March has also been pared back, but there’s confidence that growth can be maintained in the medium term.
Finally, a notable mention for Eve Sleep LON:EVE which drifted 31% lower off the back of a full year trading update. That’s despite some impressive headline numbers such as two year growth of 11% off a 40% lower marketing spend. The company does however remain loss-making.
