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AIM round-up: Ncondezi Energy, Mysale, Reabold Resources

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London’s AIM market has made little progress during the session with concerns over Russia’s alleged retreat from the Ukrainian border weighing on sentiment and being further dragged down by a soft start on Wall Street. The index reached the bell less than two points higher at 1080.21.

  • Ncondezi Energy +70%
  • Mysale +48%
  • Reabold Resources +24%
  • RA international -28%
  • Advanced Oncotherapy -10%

Ncondezi Energy LON:NCCL was the day’s biggest gainer with shares adding 60% by the closing bell. The stock has been struggling to find support since questions were raised over China’s commitment to fossil fuel power plants, but news reports today have highlighted a change of stance from Beijing in light of spiralling gas prices. The subsequent read across appears to be driving renewed interest in the stock – at least for now.

Mysale LON:MYSL also had a good session, adding 48% by the bell and clawing back some of yesterday’s losses. The situation here does seem to simply be one of that bout of selling being overblown – whilst the situation wasn’t great, it was more about bad timing that anything being fundamentally wrong with the business.

A notable mention for Reabold Resources LON:RBD which also moved higher today, finding itself in second place up by 24% at the bell. The company’s shares have been finding favour off the back of rising gas prices and jumped again today, testing new highs for the year to date.

RA International LON:RAI was the day’s biggest faller, off 28% at 4.30pm. A trading update issued this morning evidently failed to impress with a deterioration in margins being particularly evident, whilst the company also noted ongoing delays connected to contract wins and tenders. The business outlines a proactive response, aiming to attract more government work in the future, and promises further updates in due course.

Shares in Advanced Oncotherapy LON:AVO also struggled today, with the company extending the run lower that has been in play since the start of the year. Another 11% was accrued on the downside today in unremarkable volumes. Could news be incoming here?

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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