London’s AIM Index continued to drift lower on Wednesday, reaching the bell down just over three points at 1252.54
- IDE Group +33%
- ValiRx +27
- Simec Atlantic -46%
- Kefi Gold & Copper -21%
- Quiz Plc -19%
IDE Group [LON:IDE] topped the board, adding 33% on the day. There’s no news here but the company is set to release interim results tomorrow. Trade in the stock was far from remarkable and the spread – for a £5m company – seems notably tight.
ValiRx [LON:VAL] makes it back onto our list, coming in as the day’s second biggest riser, up 27%. Again no news out but that investor presentation from yesterday appears to still be driving sentiment, keeping the stock in demand.
On the downside, Simec Atlantis [LON:SAE] is the day’s worst performer, shedding 46%. The move reflects news of a discounted placing this morning, but the company – with its exposure to various green power projects – is certainly of the moment. Those who held shares earlier in the summer however are likely to be smarting at today’s price action.
Kefi Gold & Copper [LON:KEFI] also struggled, dropping 21% in the wake of an operational update. Security concerns have seen the company put the launch of a gold exploration project in Ethiopia on hold. This is seen as being temporary and the aim is to see the development get underway before the year end. Investors will rightly be watching developments here closely.
Fashion brand Quiz [LON:QUIZ] was notable as a result of its 19% fall during the day. The company issued preliminary results this morning and revenues were markedly lower as a result of the COVID pandemic, which was felt especially hard given the year-end is March 31st. Sales from April to August were however more than double the level seen a year ago and this is to be welcomed, although as others have observed, this pent up demand may be difficult to sustain.