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London’s AIM index enjoyed a bumper session, helped in part by that BoE decision to leave interest rates unchanged, reaching the bell more than eight points ahead at 1234.98

  • KCR Residential +17%
  • Mkango Resources +17%
  • Purplebricks -36%
  • Alien Metals -19%
  • Valirx -10%

KCR Residential [LON:KCR] added 17%. This is a complicated one to dissect as the share price has fallen sharply over the last week and the company closed on a spread far wider than the day’s gain. Difficult to read too much into this, beyond maybe some bargain hunting after that sell off.

Mkango Resources [LON:MKA] advanced 17% by the bell, with the share price pushing out to all time highs today. The company published an update yesterday on expanding its exposure to a rare earth recycler and given the shortage of supply combined with demand from electric vehicles, this could prove to be a lucrative move. Those who bought in just 20 months ago are already sitting on a 10x return.

A half year trading update from Purplebricks [LON:PURP] sent the online estate agents to the foot of the table today, reaching the closing bell some 36% offside. The company notes that a shortage of supply is throttling the market and that EBITDA is expected to be below the full year guidance.

A proposed placing saw  [LON:UFO] slip in Thursday’s trade, too. The placing represents a 21.3% discount however so the sell off – at 19% – is arguably measured, with the proceeds being used for a number of projects outlined in the filing.

Valirx [LON:VAL], which we flagged this week receives the notable mention as shares slid a further 10% by the bell on Thursday. The unfavourable investor response to that licensing update continues to linger, although the stock remains significantly above the levels seen through the summer.

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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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