London’s AIM Index kicked off the new year with a solid start and although there has been something of a retracement from mid-session highs, the junior market still closed just over 4 points ahead at 1161.37.
- IDE Group up 248%
- Tiger Royalties up 50%
- Remote Monitored Systems up 38%
- Clontarf Energy down 20%
- Infrastructure India down 14%
Shares in IDE Group [LON:IDE] saw some phenomenal gains today, jumping almost 250% on the back of news of a contract win. The deal is with an existing client, is valued at £22.5m over the next three years and there’s speculation that more good news may be on the way. Today’s remarkable jump however only puts the share price back to levels last seen in August.
Tiger Royalties [LON:TIR] also had a good session with shares adding 50% to start the New Year. The stock had a choppy run at times last month and there’s no news behind today’s move but there has been some chatter around the stock’s prospects. Note that the share did close on a 33% spread, so gains ought to be taken in the context of this.
Clontarf Energy [LON:CLON] slipped 20% to find itself at the foot of the table, although it seems that there’s nothing more than profit taking following last week’s 100% rally in play here. Volumes were higher than usual, but muted when compared to levels seen last week.
Infrastructure India [LON:IIP] was another big faller, dropping 14% although the wide spread, low volumes and lack of news mean there’s little to read into the move. Last month’s release of interim results delivered some meaningful support in the following days so with the share price still meaningfully above December’s lows, investors are unlikely to be phased by today’s move in isolation.
A notable mention for Remote Monitored Systems [LON:RMS] whose shares added 37% on Monday, although the stock has been finding favour since the middle of last week. This new UK lockdown and speculation that the government may push for more sophisticated, multi-layer mask construction could bode well for the stock, but we have seen volatility for RMS before.