Despite weakening economic sentiment the AIM Index managed to spend the bulk of the session in positive territory. However, selling largely around the US open left the junior market to finish just over four points lower at 976.38
- Metals Exploration up 155%
- Remote Monitored Systems up 148%
- Argos Resources down 17%
- Immunodiagnostics Systems down 15%
- Panthera Resources up 26%
Metals Exploration LON:MTL surged in trade on Monday following its return to the market. The stock had been suspended in March but resumed after a restructuring was completed. At one point, gains were in excess of 300% before settling up 155% at the close.
Remote Monitored Systems [LON:RMS] was another big winner, adding 148% during the session. On Friday the company released an update over its mask production and there’s chatter that more good news is on the way. One to watch.
At the other end of the board, Argos Resources LON:ARG slipped 17%, although this is a small cap company with a £4m market cap and is being quoted on a 33% spread. With little buying activity there’s not too much to be read into this move.
Immunodiagnostic Systems [LON:IDH] also started the week on a down note, having published a trading update after the close on Friday night. The company’s core focus – endocrinology – has been pushed from focus by healthcare professionals by the COVID pandemic but new products have been launched to meet this need. Sales have however been underwhelming so far and investor appetite appeared lacking with shares closing off 15%
A notable mention for Panthera Resources LON:PAT who saw a lot of volatility last week, with investors responding well to a CEO interview today. The company’s plans for West Africa were well received, leaving shares to march 26% higher during the day as the news was digested. The company is however being quoted on an almost 8% spread.
