London’s AIM Index made some modest gains on Tuesday, finishing almost two points higher at 1241.34.
- Bens Creek Group +21%
- Ironveld +17%
- John Lewis of Hungerford +13%
- GYG -19%
- China Nonferrous Gold -14%
Bens Creek Group [LON:BEN] found itself at the top of the board, up 21% at 4.30pm. The stock only debuted on AIM around three weeks ago but evidently has the potential to throw off a lot of cash. This seems to be causing some excitement in the market although worth noting the closing spread of >6%.
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Ironveld [LON:IRON] was also ahead today, adding 17% by the bell. The stock rallied hard a couple of weeks ago off the back of fundraising news but proceeded to give back some of that upside. A general meeting was then held this morning and although there has been no formal update from this, the stock is now just above those October highs.
A notable mention for John Lewis of Hungerford [LON:JLH] with the kitchen manufacturer having reported full year results this morning. Shares advanced 13% by the bell after a buoyant second half recovered losses accrued earlier in the year. Revenues for the FY are however still down on 2019 and it’s difficult not to take away from the results that the numbers could have been better if supply chain constraints hadn’t been a factor.
GYG [LON:GYG] was the day’s worst performer, sitting some 19% off at 4.30pm. A trading update from the superyacht painting and maintenance company this morning noted that the financial out turn would now be much lower than the board’s previous expectations. The company is caught up a shipyard it was contracting for having gone into administration earlier in 2021 and this needs to be resolved before the year end if it is to meet debt obligations.
China Nonferrous Gold [LON:CNG] was the day’s second worst performer, slipping 14% by the bell although given that equates to the spread and trade has bene very light, there’s nothing much to see here. The stock now sits around the middle of the range it’s been holding since the start of the year.