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After starting Wednesday’s session in negative territory, the AIM index advanced quickly, closing up 5 point at 973.84, creeping ever closer to the year-to-date high.

  • Bahamas Petrol up 33%
  • Tekcapital up 28%
  • Global Petroleum down 36%
  • 88 Energy down 18%
  • Notable mention – N4 Pharma down 7%

Bahamas Petrol [LON:BPC] added one third to its share price, fuelled by what appears to be speculation over the prospect of a drilling update. Shares are still below the levels seen at the start of the summer, but an RNS on Thursday morning could add further upside here.

Tekcapital [LON:TEK] was another strong gainer, adding 28% after news that one if its portfolio companies had signed a distribution agreement bolstered confidence in the group. The company in question makes “microsalt”, which is a finely ground variant of regular salt, so apparently you get the same salty taste, just with less sodium… If nothing else this should be a lesson for investors everywhere – there’s still opportunity to be had!

Global Petroleum [LON:GBP] slumped 36% following its successful cash call. Apparently the £1.4m raised takes the company’s market cap to a mere £2m.

88 Energy [LON:88E] was another big faller, off 18% as the stock gives back some of its recent gains. As was noted yesterday the market is desperate for a more refined update after last week’s note. This slide appears testament to that.

N4 Pharma [LON:N4P] continues its rollercoaster ride as investors keep weighing up what might happen next. Having added  10% on Tuesday, shares closed 7% lower last night, edging back towards those levels from before the RNS about its COVID-19 study was issued in early August.

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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