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The AIM Index jumped higher in early trade on Wednesday and managed to hold gains throughout the session, closing almost 5 points ahead at 949.04

  • Conroy Gold up 30%
  • Valirx up 30%
  • N4 Pharma up 24%
  • Argos Resources down 17%
  • Reconstruction Capital down 16%

Conroy Gold [LON:CGNR] was the biggest gainer, adding just over 30% after liberal mentions were made of the company in Anglo Asian Mining’s interim results which were published before the opening bell. A JV has been established between the two companies, driving optimism.

Valirx [LON:VAL] was just behind, adding 30% to yesterday’s 40% gain. Speculation continues to grow that good news is on the way regarding trial data.

Argos Resources [LON:ARG] was the biggest casualty, sliding 17%. There’s no news in play but with a market cap of just £4m and very little liquidity, even small sells are having a big impact. The stock trades on a 33% spread.

Reconstruction Capital [LON:RC2] fell 16% but again with very little liquidity and a huge spread, the change in price appears to have been dictated by a small skew from the market makers.

N4 Pharma [LON:N4P] gets a notable mention, up 25%. Again no news although investors are keenly awaiting an update of the company’s Nuvec oral delivery system and how this may form an effective therapy for COVID cases. Shares still remain at a 50% discount to where they were trading back in August.

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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.

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