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AIM round-up: Ironveld, Blue Star Capital. Avacta Group


London’s AIM index found cause for cheer on Tuesday, with suggestions that Russia may be de-escalating its presence on its border with Ukraine a key driver of sentiment. However, this still appears to be far from a done deal, so cross-market volatility is likely to be a recurring theme. At 3.45pm the junior index sat just shy of 13 points higher at 1077.48.

  • Ironveld +27%
  • Blue Star Capital +21%
  • Avacta Group +19%
  • Mysale -51%
  • Loopup -34%

Ironveld [LON:IRON[ had a suitably buoyant day, adding just over 20%, but the market was far from efficient with a lack of available stock driving spread out to 10% in thin trade. There may be a news release imminent and insiders are as such reluctant to sell. One to watch.

Blue Star Capital LON:BLU also found favour, adding 21% on the day. Again there’s no news but the Russia/Ukraine situation appears to have been considered a potential drag here. The share price has almost fought its way back to pre-Christmas highs, but the geopolitical narrative could keep this volatile.

A notable mention for Avacta Group LON:AVCT which was 19% ahead at 3.45pm despite the prospect of free lateral flow tests – which it supplies to the UK government – coming to an end. Shares had however fallen almost 60% since the start of the year, we’re all going to have to live with COVID for a long time yet and the company has more than one string to its bow. Bargain hunters may now be swooping in.

A trading update ensured Mysale LON:MYSL found its way back onto our list yet again today, shedding 51% as we approach the close.  The stock has now lost a total of two thirds of its value since the start of the year, with the Omicron variant leading to surplus stock before Christmas and management expressing a cautious outlook in today’s statement. A further update has been promised and clearly this has left investors wary.

Loopup LON:LOOP has also been afflicted by a trading statement this morning, with shares losing 34% by copy time. The note was broadly positive but did flag that longer lead times from booking to revenue were causing something of a drag on performance. Investors have latched onto this to drive the stock even lower.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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