Taking a lunchtime cut today, the AIM Index opened with some modest gains but support has been difficult to maintain, with the market slipping back into the red and sitting just over two points lower at 1pm to trade at 984.53.
- Argos Resources +27%
- Simec Altantis +22%
- Boohoo +16%
- Uru Metals -20%
- Eurasia Mining -12%
Argos Resources LON:ARG continued its move higher on the week, adding a further 27% in morning trade. There’s no news here and the spread is currently quoted at an eye catching 33%, but again as the world looks beyond Russia for its energy needs, a stock like this – currently valued at under £10m – could hold potential.
Simec Atlantis LON:SAE had added 22% by 1pm. The renewable energy sector is perhaps unsurprisingly finding itself in focus right now and Simec appears to be benefitting from this. The company does however have a modest £11m market cap, but trade has been brisk and the spread is a comparatively modest 6.5%.
A notable mention for Boohoo LON:BOO with shareholders taking the glass half full approach to today’s results, taking on 16% during the morning. Shares have however been under sustained pressure for the last year, so there’s arguably a degree of bargain hunting taking place here, too.
Uru Metals LON:URU was the morning’s biggest faller, slipping 20%. Again this is a minnow of a stock, has seen thin trade so far and sits on a very wide spread. Nothing to see here, by the look of it…
Eurasia Mining LON:EUA also had a sluggish start to the day, down 12% at 1pm. Yet again there’s a meaningful spread here, but for a company now valued at £200m (it was closer to £1bn at the start of the year) this is a little more troubling. News that Evraz has seen its shares suspended in London could be contributing some read across here.
