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The proverbial champagne corks may be popping on Wall Street after the DOW breached 30,000 on Tuesday, but the AIM index put in a rare down day – only the third this month. Despite a promising start, London’s junior market closed just over three points lower at 1031.76.

  • Hurricane Energy up 39%
  • Concepta up 32%
  • Tanfield down 21%
  • Reneuron down 18%
  • Honourable mention ITM Power down 4%

Hurricane Energy [LON:HUR] had a barnstorming session, with shares adding 39% by the close. Oil prices are surging and this is helping several in the sector, but there’s nothing to explain why the company is proving to be a stand out. A legacy story – with a negative slant – did appear in the Scottish media today, but again it’s difficult to see this as a driver.


Concepta [LON:CPT] saw recent gains accelerate through Tuesday’s session with the shares closing up 32% at levels not seen in almost exactly a year. Yesterday the company announced news of the acquisition of a home genetic-testing operation and with the story making it into the mainstream today, interest in the stock remains buoyant. Volumes were significantly higher than usual, although the quote spread at the close was admittedly in excess of 20%.

At the foot of the board it’s a semi-regular appearance from Tanfield Group [LON:TAN], but there appears to be nothing behind the move. A series of sell orders, an absence of buyers and an eye-popping 50%+ spread at the close left the stock down 21%.

Reneuron [LON:RENE] slipped 18% today, but given the discounted new £15m placing, that would be sufficient to explain the move. Interim results were also published and despite the enthusiasm of new investors, these lead with news that the funding round only provides 18 months’ worth of runway. Hopes are clearly high over what their cell therapy candidate may yield.

A notable mention for ITM Power [LON:ITM], one of the largest cap companies on AIM. Shares briefly touched an all-time high just above the £4 mark today, before reversing to finish the session 4% lower. Shares have been advancing well – they started the year below £1 – with last week’s green initiative announcement by the PM providing another shot in the arm. The company manufactures integrated hydrogen energy solutions – a fuel which is seen as still being a long way from achieving its full potential to reduce carbon emissions.

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Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Tony Cross

Tony Cross

Tony Cross is a market commentator with over 15 years of experience, producing compelling, insightful copy for journalists and investors alike. Focusing on macroeconomics, UK blue chip equities and inter market analysis, Cross's commentary is well regarded for its clarity and ability to cut through the waffle. He has been quoted in publications as diverse as The Financial Times, The Times, The Guardian and The Sun. He has also been a regular guest on both Share Radio and TipTV.

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Comments

This Post Has 2 Comments

  1. Along with other entities of this nature the Armchair Trader (AT) tells us what has happened (after the big money has been made or lost).

    It would be really helpful if AT opined on what’s going to happen.

  2. Thanks for your comment Phil. Our daily AIM round-up is designed to provide a quick snapshot of the day’s moves – however, Tony Cross will often adds his thoughts where they offer value. We do look a little deeper at stocks that interest us – take a look at our Watchlist section for some more in-depth reading.. Best wishes.

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