London’s AIM Index found some support during today’s session with the market closing more than seven points higher at 1266.35, comprehensively outperforming the FTSE-100.
- Asiamet Resources +20%
- Novacyt +19%
- ITM Power +12%
- Renalytix -13%
- SDX Energy -12%
Asiamet Resources [LON:ARS] fared well today, adding 20% by the bell. There’s no news out although trade has been very brisk and the shares have moved back to levels not seen since April. The spread isn’t overtly wide either, which could help sustain gains.
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Novacyt [LON:NCYT] found itself up 19% and in second place today following the publication of its half year update. Revenues for the period are up 50% on the 2020 figure and the company has also been awarded a new contract from PHE. Although there’s currently a dispute over £40.8m worth of sales with the government ongoing, this new win arguably provides some confidence that debts here may be recovered.
A notable mention for ITM Power [LON:ITM] whose shares jumped 12% during Wednesday’s session. Yesterday the company announced the official opening of the gigawatt factory in Sheffield and there’s been a swathe of mainstream media coverage of late over the benefits of combining hydrogen with natural gas. The stock remains well below the 700p+ level seen at the start of the year, but long term investors will welcome the gains.
Renalytix [LON:RENX] is the worst performer by the bell, sitting some 13% lower. There’s no news out here but the stock has been struggling since the end of July and now sits at levels not seen since January. Volumes do look somewhat elevated but the collapse unwinds much of what could be seen as gains off the back of the DaVita tie up announced at the start of the year.
SDX Energy [LON:SDX] also struggled today, shedding 12% by the bell. The company this morning released some disappointing drill results and although there are more options on the table, investors hoping for a quick return here have been left disappointed. Shares are now at all time lows for the £26m oil explorer