The AIM market continues to march its way higher, with gains being weighted into the latter part of the session leaving the index to close six points ahead at 1167.36
- Microsaic Systems up 62%
- Ormonde Mining up 27%
- Plant Health Care up 22%
- IDE Group down 13%
- Trufin down 12%
Shares in Microsaic LON:MSYS found themselves at the top of the leaderboard today, adding 62%. The stock had a market cap of under £1m this morning and closed on a 16% spread, but the move may be indicative of the fact that last month’s news of a corporate recovery specialist having been appointed may be close to yielding some news.
Ormonde Mining [LON:ORM] put in a strong performance, adding 27% through the session but there’s nothing behind the move. The longer term trend is arguably more impressive and with the share price having doubled since Christmas, the stock does seem to be back in favour, trading at levels not seen in a year.
IDE Group LON:IDE was the day’s biggest faller, off 13%, although after yesterday’s eye-popping 250% uptick following news of a contract win, a degree of profit taking was perhaps inevitable. The fact the stock closed quoting a 14% spread is also worthy of note – arguably nothing much to see here.
Trufin LON:TRU was the day’s second largest faller, although losses of 12% are admittedly modest for the market. Low volumes, a hulking wide spread and strong gains yesterday suggest there’s no real cause for concern here and it’s worth adding that the stock hasn’t seen a sustained run above 50p in 15 months.
A notable mention for Plant Health Care LON:PHC which was another strong performer on the day, after shares added 22% following a statement to the market. The company has advised that one of its products has now received approval from Brazilian regulators and that they also believe over the next 2-3 years, sales prospects hold incredibly strong potential. Investors have reacted to this, although with the news breaking less than an hour before the close, further price action may follow tomorrow.
