London’s AIM Index managed to post its first day of gains for the year on Tuesday, although upside was underwhelming, with the market reaching the bell a mere four points higher at 1174.27.
- Harvest Minerals +25%
- Shoe Zone +21%
- Vast Resources +20%
- Actual Experience -29%
- 7Digital -12%
Harvest Minerals [LON:HMI[ punched its way to the top of the board on Tuesday, although gains were a comparatively modest 25% on the day and the spread closed at a meaningful 8% on the £12m company. There was some upbeat sales guidance out yesterday which didn’t generate much price action, so today’s gains are arguably a case of the market simply catching up with that.
Shoe Zone [LON:SHOE] also made progress, adding 21% off the back of an encouraging earnings update this morning. Critically the company is eyeing further expansion of its digital sales channel as well as suggesting that dividend payments will resume this year.
Vast Resources [LON:VAST] gets the notable mention, adding 20% by the bell. Gains started to accrue late morning then shortly before the close, a notification that a major shareholder had upped his stake was published. Confidence here may however still be in short supply given the poor run of the stock since the consolidation nine months ago.
Actual Experience [LON:ACT] was the day’s worst performer, having shed 29% by the close. There’s no news out but the £10m market cap company saw some lumpy trade being reported with selling pressures extending the damage done off the back of that pre-Christmas trading update. Shares now trade at all time lows.
7Digital [LON:7DIG] slipped 12% on the day, although this comes on the back of some meaningful gains last week and also wrapped in a 10% spread on the stock. There’s no news out here to justify the sell-off but could be one worth watching.
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