London’s AIM Index has been in for something of a rangebound day, flitting in and out of positive territory, although the market did manage to finish in blue ink, up just over one point at 1211.82
- Infrastructure India up 33%
- Tasty up 21%
- RMS up 17%
- Immupharma down 16%
- Corero Network Security down 14%
Infrastructure India [LON:IIP] saw its shares surge to the top of the board today, closing some 33% higher on the day. There’s no news behind the move, although the stock is seen as trading at a significant discount to NAV and the move needs to be viewed with one eye on the close-on 20% spread the stock trades at.
Restaurant operator Tasty LON:TAST found itself in second place today with shares up 21%. There’s no company announcement here, but the narrative from parliament may have been supportive. Comments by the small business minister may have helped support the rally and with the COVID vaccination roll out running smoothly, this is certainly something many will want to see advancing.
A notable mention for Remote Monitored Systems [LON:RMS] whose shares jumped almost 20% today. There’s no news out supporting the move, but the commissioning delay which was announced on the 1st of February is likely close to being resolved assuming the engineers involved haven’t been badly affected by COVID. This could pave the way for a more positive announcement being made to the market in the next few days.
Immupharma LON:IMM was the worst performer on the day, although with losses limited to just 16% it’s hardly a big move when compared to what this market can deliver. The company published an update this morning regarding a round of phase 3 trials and whilst these appeared positive, it seems that investors had been expecting more. Shares slumped and now sit below 10p – a price which hasn’t been sustained in almost a year.
IT Services company Corero Networks LON:CNS has been under some modest pressure today, down 14% but that was sufficient to leave it as the second weakest performer. The shares performed well through January but it seems that there has been nothing to help sustain momentum. Volume was elevated but order sizes seemed quite lumpy, too and again we need to acknowledge the closing spread of over 6%.
