London’s AIM index has started the week on a positive footing, adding a further eight points by Monday’s closing bell to reach 1273.31. At the stock specific level however, activity does look unusually restrained.
- Galantas Gold +24%
- Pantheon Resources +22%
- 88Energy +15%
- Tristel Plc -15%
- Tlou Energy -10%
A new one for the column from Galantas Gold [LON:GAL], which topped the board today having added 24% by the bell. The small cap miner has added almost 50% over the last 10 days, taking the stock back to levels not seen in 18 months, but there’s no specific news behind the move. With an 8% spread and lumpy trade, the gains need to be taken in the context of this, too.
Pantheon Resources LON:PANR makes our list again today, adding another 22% after last week’s volatility. An investor update released over the weekend seems to have offered fresh cause for optimism, although it’s worth noting that even with these gains the stock still remains well below levels from earlier in the year.
Tristel Plc LON:TSTL found itself at the foot of the board although losses were a mere 15% at the bell. A trading update this morning revealed higher costs and lower sales than had been forecast so whilst the company remains well positioned for growth, investors have been left disappointed.
Tlou Energy [LON:TLOU] also struggled, reaching the bell some 10% offside in the wake of an operational update this morning. It is worth however noting that the stock closed on a 7% spread and traded volumes were far from being remarkable, it just all seemed to be weighted on the downside. With that in mind it’s difficult to see this as being more than some quick profit taking, rather than anything more significant. It does however leave the stock close to lows for the year.
88Energy [LON:88E] gets the notable mention today. The stock saw some dramatic gains at the end of last month, before reverting shortly thereafter. Today’s 15% nudge higher perhaps shows some renewed optimism although the stock does also have a tendency to correlate with Pantheon.
