London’s AIM Index had added around 5 points by late afternoon, reaching towards 1275 and continuing its slow but steady progress from Monday’s lows.
- Mobile Streams +20%
- Caribbean Investment Holdings +17%
- Itaconix +11%
- Rockhopper Exploration -34%
- Aura Energy -23%
Mobile Streams [LON:MOS] is at the top of the pile approaching the, adding 20% on the day and up one and a half times since the start of the month. There’s no new news out, but a couple of positive updates on subscribers have been released in recent weeks and there’s been the promise of further geographic expansion in the near term. The expectation of this could well be driving sentiment.
Caribbean Investment Holdings [LON:CIHL] was up 17% approaching the close, with investors cheered by this morning’s publication of results. Some astute acquisitions were noted and trading during the day has been brisk. The stock has only managed to fights its way back to levels seen earlier in the summer and the narrow spread on a company with a modest market cap is also noteworthy.
Itaconix [LON:ITX] is no stranger to this note and today’s gains of 11% so far means it gets the notable mention. The only news out today is that interim results will be posted on Tuesday and investors will be looking for more clarity at this point, following those supply chain concerns earlier in the year.
Rockhopper Exploration [LON:RKH] is at the foot of the board, currently off some 34% with the release of an update on their Sea Lion project. A funding partner has withdrawn their support and this will take some unwinding. There’s uncertainty about progress from here and shareholders are selling down positions as a result.
Shares in Aura Energy [LON:AURA] have been in focus of late with resource upgrades and news that the share has resumed trade on the ASX buoying interest. This morning, a cap raise was announced, although this alone doesn’t explain away the magnitude of the 23% sell off. That said these moves may be little more than profit taking from those who benefitted from the close on 4x gains seen over the first half of the month. Having started September at 5.75p and now sitting at 15p, it still paints an impressive picture.