Softer oil prices and talk of QE in China have served to buoy sentiment in London’s junior market today. The AIM Index reached the closing bell almost 28 points higher at 1015.02.
- Eurasia Mining +39%
- UkrProduct +35%
- Valirx +14%
- Uru Metals -21%
- Argos Resources -15%
Eurasia Mining [LON:EUA] topped the board today, adding 39% by the bell. Again a degree of optimism that the conflict in Ukraine may soon end seems to be lending support here, although the stock still remains some 60% below its January highs.
UkrProduct [LON:UKR] was the day’s second biggest riser. The company has managed to steer clear of our attention in recent weeks despite being heavily exposed to Ukraine, as the country’s leading producer of high quality dairy goods. Shares in the £2m minnow added 35% by the bell, reversing a fair chunk of the losses seen in the last few weeks.
ValiRx [LON:VAL] continues to benefit from yesterday’s well-received operational and strategy update, with the stock advancing almost 14%. The move recovers recent losses, lifting the stock back to levels more commonly seen at the start of the year – and significantly higher than where it has been over the last few years. It’s far from nailed on, but there’s evident optimism that the big wins might eventually be seen here.
Uru Metals [LON:URU] was the day’s biggest faller, down 21% at the bell, albeit on a spread of a similar degree. This however looks like more sporadic trade in the stock which has a £5m market cap, and simply serves to temper some of the gains we saw picked up since the start of last week.
Another down day for Argos Resources [LON:ARG], which continues to reverse those gains from the rally seen earlier in the week. Again that falling oil price isn’t offering much support here, although the path ahead remains somewhat uncertain.
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