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London’s AIM Index stepped its momentum up a gear today after a comparatively uneventful few days. Outperforming the main market, the junior board reached the bell some 11.5 points higher at 1242.61.

  • Echo Energy up 24%
  • Aukett Swanke up 17%
  • Tricorn -20%
  • Great Western Mining -17%
  • Tekcapital-8%

Echo Energy [LON:ECHO] is the day’s best performer, reaching the bell some 25% ahead. There’s no news behind the move and the gains have come despite the comparatively downbeat assessments of the oil market which is prevailing right now. Could big news be on the horizon?

£3m market cap architectural firm Aukett Swanke [LON:AUK] added 17% by the bell but there’s been limited trade in the stock. Investors were underwhelmed by the interims a month ago but there’s certainly been support emerging since then, albeit in a rather thin market.

Tricorn [LON:TCN] slumped 20% to find itself at the bottom of the table today following an update on last week’s notification of a strategic review. The company is facing a short term cash squeeze and unless a sale process can be initiated, then restrictions imposed by lenders could become onerous.

Great Western Mining [LON:GWMO]  also struggled, sitting 17% lower by the bell following a drilling update. Management talked up the findings but it seems clear that investors were looking for more than this. Shares have lost 40% of their value in a little over a month and now sit at levels not seen since last September.

A notable mention for Tekcapital [LON:TEK], whose shares slipped 8% during Wednesday’s session. The stock had rallied hard off the back of those Belluscura-inspired gains yesterday but a degree of opportunistic profit taking has pushed the stock onto our radar. Belluscura is up just over 1% following a mixed session.

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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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