The main board may have been left less than impressed by the downbeat tone of Rishi Sunak’s spending review, but the AIM Index managed to scrape some modest gains, closing around one quarter of a point higher at 1032.03.
- Caspian Sunrise up 47%
- APQ Global up 29%
- Kropz down 23%
- Trafalgar Property down 23%
- Concepta down 15%
Central Asian oil co Caspian Sunrise [LON:CASP] saw its shares lurch higher today, adding 47% by the close. There’s no official news here but shares were certainly in demand. The sector as a whole is finding support right now, although speculation over fresh drilling success may be a factor in these latest gains.
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APQ Global [LON:APQ] was the second biggest riser on Wednesday, adding 29%, although with no apparent volume and the stock trading on a very wide spread, this is more a housekeeping adjustment that anything of note.
Kropz [LON:KRPZ] was the biggest faller with the phosphate miner shedding 23%. Unusually high volumes at the start of the week failed to drive a share price response, but this stock does sit on a wide spread so again there may be little need to try and justify the move.
Trafalgar Property [LON:TRAF] also slipped 23% on the day. There was news on Tuesday of the appointment of a new FD as the company looked to expand activity in the vertical farming sector but volumes spiked quite significantly today. This may be an innovative play but – feeling like a broken record here – the stock closed with a quoted spread of 30% and a market cap of just £2m.
An honourable mention for Concepta [LON:CPT] which made it onto our list as one of the biggest risers on Tuesday, Shares closed off 15% tonight, but yet again with hefty spreads being quoted it remains difficult to read much into this.