London’s AIM Index powered through 1200 shortly after the opening bell this morning, with the level offering up no resistance. Equities appear to be in a buoyant mood across the board this week with anticipation of how US investors may spend their next stimulus cheques adding to confidence. The junior market went into the close almost 7 points higher at 1206.25.
- Kodal Minerals 42.5%
- Aura Energy 25%
- Panthera Resources -17%
- 88 Energy -13%
- Tasty Plc -7%
Kodal Minerals [LON:KOD] was lifted to the top of the board on Tuesday, with confidence in the stock being bolstered by news that a convertible loan note holder had elected to exercise an option to receive stock in relation to part of the capital and interest outstanding. Whilst there’s some modest dilution here as a result, it bodes well for the company in the longer term.
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Aura Energy [LON:AURA] also fared well, adding 25% by the close. However there’s nothing of note behind the move – there’s an AGM scheduled for tomorrow which is believed to pave the way for some progress in the business, but given the stock was quoted at a 20%+ spread, the gains need to be taken in context.
Panthera Resources [LON:PAT] was propping up the table at the close, having slipped 17%. A market update published before the opening bell highlighted potential legislative changes in India, with the company noting that this could have an impact on a local joint venture. More detail is likely to emerge here in due course, although the stock remains comfortably above last year’s average.
88 Energy [LON:88E] is back on the list, being the second biggest faller on the day, off by 13%. However, after a bumper start to the week, this looks like nothing more than some quick profits being booked.
A notable mention for restaurant operator Tasty [LON:TAST], which slipped 7% today. We saw a run of gains for the company just over a month ago and the stock remains well above pre-Christmas levels, but there’s nothing to support this dip. The stock does however trade on a wide spread – it could be that this is nothing more than a consequence of a single day’s lop-sided trading.
Please note, to avoid any confusion regarding auction settlement, with immediate effect we will be calculating the day’s biggest risers and fallers as of 1630hrs, by using prices referenced from the London Stock Exchange website.