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Home » UK Shares » AIM Risers and Fallers » AIM round-up: Lexington Gold, Scirocco Energy, N4 Pharma

London’s AIM Index had a punishing start to the week, shedding more than 28 points by the bell to sit at 922.79. That’s the lowest close in almost two years.

  • Lexington Gold +16%
  • Scirocco Energy +12%
  • N4 Pharma +10%
  • Devolver Digital -47%
  • Tekmar Group -32%

Lexington Gold [LON:LEX] was the day’s biggest riser but upside was a rather muted 16% despite what the company heralded as exceptional assay results from a US drilling program. Given the broader market headwinds, could further support emerge here in the coming days?

Scirocco Energy [LON:SCIR] was in second place, advancing 12% with news of a $16m divestment. Trade was limited and the stock sits on a wide spread, but given the market cap is a mere £4m – so $5m in round numbers – the question has to be if the scale of the deal has been properly accounted for despite the exaggerated volumes posted during the session.

A notable mention for N4 Pharma [LON:N4P], who this morning provided a Work Programme Update, providing a recap on recent developments and piquing investor interest as a result.

Devolver Digital [LON:DEVO] was the day’s worst performer, sitting some 47% lower at the bell. A trading update this morning noted that games releases for the year to date had been slower than expected, whilst costs were rising owing to multiple factors. The company believes that it will see faster delivery of new games in the second half of the year.

Tekmar Group [LON:TGP] reached the bell 32% lower following the announcement this morning that it was considering the need for a strategic partner to take the company to the next level. That news came alongside interim results which were in line with management expectations but the prospect of a sale or divestment has rattled sentiment.

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This article is not investment advice. Investors should do their own research or consult a professional advisor.

Michael Morton

Michael Morton

Michael has worked within the Financial Industry for more than 20 years. Starting out as a financial analyst, he has extensive experience working with fund management groups and brokerages.

With an interest in Stocks and Shares, Funds, ETFs and Commodities, his investment focus is medium to long term gains, with the objective of financial security on retirement, and building wealth for his young children for their adult life. His broker of choice is Hargreaves Lansdown.

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