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AIM round-up: Ceres Power, Lexington Gold, ITM Power

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At midday, the AIM index has had a good start to the session, adding well over eight points to sit at 1091.14

  • Ceres Power +24%
  • Lexington Gold +15%
  • ITM Power +12%
  • China Nonferrous -11%
  • Mysale Group -11%

Ceres Power [LON:CWR] is at the top of the board, up 24% off the back of news that a strategic collaboration with Weichai and Bosch has been signed. It’s a non-binding heads of terms but has clearly given investors something to cheer, with the share price having been under sustained pressure for the last three months.

Lexington Gold [LON:LEX] was the day’s second biggest riser, up 15% again with an RNS driving sentiment. The company announced the first assay results from one of its drilling projects in the Carolinas, with significant gold mineralisation present.

A notable mention for column favourites ITM Power [LON:ITM]. It’s been a rough ride for the Sheffield based hydrogen power company, but shares are up 12%. There’s no news to support this yet but for the gains to come in the face of today’s positive update in terms of nuclear fusion suggests that perhaps after the unceremonious decline from over 700p a year ago, value hunters are now sensing an opportunity.

China Nonferrous [LON:CNG] was the morning’s worst performer, off some 11% at copy time. There’s no news out but trade looks lumpy and the spread of 6% on a £30m market cap underlines the fact the market may not be all that fluid.

Mysale Group [LON:MYSL] was another laggard, again off 11% – which is admittedly quite modest for the market – at copy time. However this looks like a case of not much to see here, move along, with one reported transaction being enough to shift the price and leave the stock on a proverbial mile-wide – or close on 30% anyway – spread.

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This article does not constitute investment advice. Do your own research or consult a professional advisor.

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