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London’s AIM Index saw a rare down day to start the week, but only just. The junior market shed just one point, to close at 1178.76.

  • Assetco up 69%
  • Global Petroleum up 37%
  • Online Blockchain down 25%
  • Ilika down 15%
  • Webis Holdings down 11%

Assetco [LON:ASTO] was the day’s top performer, adding 69% off the back of news that a team lead by Martin Gilbert, the founder of Aberdeen Asset Management, had acquired almost 30% of the business. Media reports over the weekend had flagged the fact he would make a move on the firm, but had underreported the size of the interest. Assetco will become Mr Gilbert’s main corporate vehicle to fund various takeovers.

Global Petroleum [LON:GBP] added 37% in brisk trade, although there’s no firm news behind the move. A market note last month promised an update on drilling at a Namibian site in the latter part of January so this could be driving interest amongst speculators. Critically, the share price has now doubled since that update last year.

At the other end of the board, Online Blockchain [LON:OBC] had a rough ride after the collapse in Bitcoin’s price over the weekend. The stock ended up 25% lower on the day so adding this to the drag seen on Friday – possibly off the back of that warrant issue – and the shares have lost close on 45% from last week’s highs.

Ilika [LON:IKA] saw its share price retreat 15% on Monday, with profit taking being seen ahead of interim results which are expected later in the week. The company’s stock surged late last year but a statement published in the midst of the Christmas lull urged caution over the commercial prospects for its developing battery technology.

A notable mention for Webis Holdings [LON:WEB], a minnow which surged last week off the back of the rally in cryptocurrencies and hopes amongst some investors that this could be the next big crypto services company. The stock slipped 11% today, although volumes were thin and with a wide spread being quoted, those who invested before Christmas should still be onside – for now.

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Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Tony Cross

Tony Cross

Tony Cross is a market commentator with over 15 years of experience, producing compelling, insightful copy for journalists and investors alike. Focusing on macroeconomics, UK blue chip equities and inter market analysis, Cross's commentary is well regarded for its clarity and ability to cut through the waffle. He has been quoted in publications as diverse as The Financial Times, The Times, The Guardian and The Sun. He has also been a regular guest on both Share Radio and TipTV.

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