Sharp gains for the AIM Index today as the market tracked gains from Wall Street last night. The junior market punched higher, finishing up more than 18 points at 1214.13.
- Bradda Head +20%
- Online Blockchain +20%
- Tricorn Group -17%
- Catanae Innovation -15%
- Jet2 +8%
Bradda Head [LON:BRAD] topped the board, adding 20% this morning after making its trading debut on AIM. The company also published an update on drilling at a lithium project which carried some encouraging comment, but it seems as if the upside is better attributed to that day 1 bounce.
Online Blockchain [LON:OBC] also enjoyed a stellar 20% rise during Wednesday’s session. Reversing some of that negative sentiment we’ve seen building in recent weeks. The company is closely tied to the Umbria DeFi protocol which noted some significant developments today and that seems to be behind the move from yesterday’s lows.
At the other end of the board, it’s Tricorn Group [LON:TCN] that is sitting at the foot of the table, off some 17% at the bell. Interim results were issued this morning, along with news that the company is undertaking a strategic review of the business which could involve a partial or full sale of operations. The note that business was returning to pre-COVID levels clearly failed to lend meaningful support.
And Catanae Innovation [LON:CTEA] gave up some of yesterday’s speculative gains, dropping back 15%. That upside had come off the back of government posturing towards COVID passports by September, but until there’s a firm agreement in place, the lack of support can be of little surprise. Worth noting also that this move isn’t much beyond the spread.
A notable mention for Jet2 [LON:JET2] whose shares gained a little bit of altitude today, rising 8% by the bell. Whilst gains have been seen across the sector, this is the clear stand-out amongst the UK listed airlines. With news that border officials are changing tack in a bid to better manage queues for passengers returning to the UK, this seems to be hinting that there will be no further broad-brush tightening of restrictions, giving the sector some cause for cheer.