London’s AIM Index has spent the day in a relatively narrow range but reached the closing bell slightly lower, off around two points at 1191.61
- Aura Energy +42%
- 88 Energy + 24%
- Bowleven -17%
- Braveheart Investments -14%
- Mediazest +20%
Today’s top two performers are exactly the same as we saw yesterday – they’ve just swapped positions. That means Aura Energy [LON:AURA] is at the head of the board, having added 42%, extending its recent run of gains to leave the share price an impressive 20x higher than it was last week. Investors appear to be reassured that key shareholders have resolved some differences, leaving the shares at levels not seen in almost two years. Could there be more in the tank?
88 Energy [LON:88E] is also faring well, extending yesterday’s gains and tacking on another 24% by the bell. There’s no fresh news here, but that steady stream of updates hinting that good things lie ahead in terms of drill sites continues to bolster performance. Expectations are for more news to come before the end of next week.
Bowleven [LON:BLVN] slipped 17% today on the back of interim results where it seems investors had been expecting more. Back in January the stock lurched higher off the back of news that an exclusive license was being negotiated in Cameroon, but with no update forthcoming here, patience appears to be wearing thin.
Again, making it back on the list for a second day is Braveheart Investments [LON:BRH], with the share price having given back all of those gains it racked up at the end of last week. There’s no meaningful update here and until a portfolio company makes reportable progress, sustaining any gains could prove challenging.
MediaZest [LON:MDZ] has been on our radar before so makes for today’s honorable mention, having arrived at the closing bell some 20% higher. A bullish statement over contract wins this morning appears to have bolstered sentiment and whilst there’s a degree of COVID related uncertainty, the company is upbeat over prospects for the second half of the year, too.