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%
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.