skip to Main Content
Get your free newsletter: Actionable insight each morning for self-directed investors. 

After a lacklustre start, London’s AIM Index managed to reverse the bulk of the day’s losses to finish down just one point at 1210.53

  • Cadence Minerals +35%
  • Reneuron +22%
  • ASOS -12%
  • Longboat Energy -11%
  • Braveheart Investments -5%

Cadence Minerals [LON:KDNC] was the day’s best performer at 4.30pm. Shares jumped 35% off the back of news that bank creditors had approved funding for a lapsed iron ore project that is seen as having significant potential. Today’s move however only makes a relatively small impression on the losses accrued in recent months.


Reneuron Group [LON:RENE] – a global leader in the development of exosome therapeutics – also fared well, adding 22% by the bell. The company has announced positive proof of concept data in terms of drug delivery. This appears to be a very early stage development but one that could have significant potential, underscored by today’s exaggerated trade volumes.

ASOS [LON:ASC] was that day’s worst performer, dropping 12% off the back of pre-market announcements. Cautioning that profits would be squeezed, the CEO has stepped down and a search for a replacement is underway – and that’s despite an incredibly upbeat view in terms of how much growth could be delivered in the years ahead.

Longboat Energy [LON:LBE] also slipped on the day, declining 11% despite the release of positive drilling results this morning. The market cheered results from the company just a couple of weeks ago, so today’s about turn seems to be opportunistic profit taking. Whether the decline is sufficient to encourage bargain hunters to move in remains to be seen.

A notable mention for Braveheart Investments [LON:BRH] whose shares slid 5% today as investors responded to news that the company had made a significant investment – worth around £800,000 – into Autins at the end of last week. The loss-making auto engineering firm has however seen its share price supported by the news, albeit in thin trading and on the assumption that Braveheart’s decision to increase its holding will be supported by confidence in the business going forward.

Become a better investor with SharePad Designed to give you the confidence to pick your own investments, Sharepad gives you access to a wealth of information on UK, US & European stocks. Find out more

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.

Stocks in Focus

Here are some of the smaller companies we are following most closely. They all represent significant growth stories in our view. Our in-depth reports go into more detail on why we like them.

Comments


Get your free daily newsletter: 

Thanks to our Partners

Our partners are established, regulated businesses and we are grateful for their support.

Pepperstone
FP Markets
IG
Spreadex
Trade Nation
WisdomTree
ActivTrades
Back To Top