London’s AIM index has pushed on above the 1200 level during Thursday’s trade, closing up over five points at 1204.07. That said, volatility once again looks relatively subdued with no real outlier movements that usually give us the content here being noted.
- Eco Animal Health up 31%
- MaxCyte Inc 28%
- PetroNeft Resources down 19%
- Tiger Royalties down 19%
Eco Animal Health LON:EAH was the day’s biggest riser, adding 31% after the company released both full year numbers to March 31st 2020 and interims to September 30th 2020 at the same time. The full year data was uninspiring, but the interims certainly gave some cause for cheer, with growth rebounding well in China following the swine flu outbreak of 2019. The company also noted that it had posted a strong Q3, leading the business to upgrade expectations for the current financial year.
Biotech MaxCyte LON:MXCT had a bumper session off the back of news that it had raised a further £40m in capital at 700p per share, so a premium to last night’s closing price. The company is pursuing a dual listing on Nasdaq and this issuance helps add a new round of investors, as well as bolstering the balance sheet to support fresh initiatives.
PetroNeft Resources [LON:PTR] has had a strong run since the start of the year, with shares having added 150% in recent weeks. Today’s move therefore looks like profit taking in a comparatively thin market, leaving the spread at almost 14%. With that in mind the 19% loss on the day doesn’t look too bad but the stock has finished as the biggest loser for Thursday.
Resources investment fund Tiger Royalties LON:TIR also floundered, slumping almost 19% although there’s no news and with a market cap of just £2m plus a 20% spread there’s little to take away from this. Sells far outstripped buys however, with some gains of recent weeks being booked as profit along the way.
