The AIM Index managed to hold onto positive territory for the most part of the day after Tuesday’s battering, but a fresh round of pessimism following the Wall Street open weighed the junior market, leaving it at 1260.54 or just over one point lower by the bell.
- Kodal Minerals +34%
- Location Sciences +25%
- Zanaga Iron -16%
- Corcel -14%
- Comptoir Group -13%
Kodal Minerals [LON:KOD] enjoyed another upbeat performance, extending yesterday’s rally by a further 34%. There’s no fresh news, but investors clearly remain optimistic over the outcome of that lithium project and trade was once again brisk. We’ve see these high volume, brief bursts higher before however, so hopefully further updates allow some of these gains to be consolidated.
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Location Sciences Group [LON:LSAI] was the day’s second biggest riser, adding 25%. The stock saw exaggerated levels of interest yesterday off the back of a cap raise announcement but there was no real move in the share price. That interest has however continued, leaving the stock in demand, although usual caveats here of it being a £4m minnow and quoted on a 16% spread.
Zanaga Iron [LON:ZIOC] was the day’s biggest casualty, off 16%. The stock has been making steady gains over the last six months, but project and funding updates published this morning clearly left investors cold and some early profit taking may have ensued.
Corcel [LON:CRCL] also struggled today, giving back 14% off an operations update covering various portfolio lines. There was nothing inherently wrong with the news given to shareholders but perhaps some were left expecting more. As a result, the stock has given back a lot of those gains from the start of April, but as a £6m company with a raft of what appear to be exciting opportunities, this could warrant a closer look.
Today’s notable mention goes to Comptoir Group [LON:COM], which was 13% lower at the bell. Back in February, the stock made strong gains off optimism that diners would soon be back in restaurants and has picked up further momentum since. Today’s trade was particularly thin and there’s nothing apparent behind the move. The fall was also within the spread, but it seems worthy of note that the stock is under pressure as the resumption of indoor dining is less than a week away.