London’s AIM Index posted some gains early in the session but has been drifting lower since. Despite that, the junior market still managed a positive finish, up over three points at 1191.86.
- Mediazest up 50%
- Comptoir Group up 33%
- Conroy Gold down 24%
- Futura Medical down 17%
- Clear Leisure down 8%
Mediazest LON:MDZ has found its way onto our radar a couple of times of late and once again today it’s topping the board, up by what on the face of it looks like an impressive 50%. However, the rally of two weeks ago on the back of new contract wins lost steam, so shares are simply back to levels tested mid-month. With no fresh news around, these gains may be difficult to sustain.
Comptoir GroupLON:COM makes it into the list again with a tidy 33% being tacked on. Whilst this arguably shows ongoing confidence over how the business may perform post-lockdown, the comparatively drawn out rebound to the news seems worthy of note and serves as a timely reminder that this market can be less than efficient at times.
Conroy Gold LON:CGNR was the day’s worst performer, shedding 24% by the close. Volumes were unremarkable but the move would seem to relate to news that a planned deal with Anglo Asian Mining had been pulled. There is however another partner ready to offer support on the project and the option comes with a short term cash boost, too.
Futura Medical LON:FUM slipped 17% by the close, reversing some of the recent gains but still settling above the highs from late last year. Stocks with links to CBD products have found renewed favour of late and that may well be all that’s behind this move higher.
A notable mention for Clear Leisure [LON:CLP] who have been mentioned a few times of late. Their stock settled 8% lower, although that’s masked by the hulking spread being quoted at the close. The stock has had a great run, amidst that bid into the crypto space and also off the back of speculation that litigations could deliver significant cash returns. In the absence of any meaningful news however there’s not much to add here.
