London’s AIM Index was rangebound through Monday’s session, although managed to tack on some wafer-thin gains in the last hour of trade to reach the bell less than one point higher at 1257.68.
- Netscientific +92%
- Filtronic +17%
- Univision Engineering -21%
- Kropz -12%
- Alien Metals +3%
Netscientific [LON: NSCI] saw its shares move 90% higher today in the wake of news that a wholly owned portfolio company – ProAxis – has entered into an exclusive licensing agreement with AstraZeneca. This relates to a new COVID-19 therapy and clearly and although full validation remains necessary, this should be possible from existing resources.
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Filtronic [LON:FTC] added 17%, making it the day’s second biggest riser by the closing bell. The company has seen research coverage initiated by Edison, which has the potential to provide a higher profile for the stock and its associated investment opportunity.
Univision Engineering [LON:UVEL] was the day’s worst performer, off 21% by 4.30pm following an update this morning. The company had advised that its Chairman had expected to sell a majority holding to a Singaporean investment vehicle. This option has however now lapsed – there’s no detail as to what triggered the collapse of the deal, but investors are understandably disappointed.
Kropz [LON:KRPZ] also struggled today, shedding 12% although trade was thin and the spread remarkably wide. A note this morning advised that there would be a delay in publishing accounts, meaning they cannot be tabled for acceptance at the forthcoming AGM. The stock has however been making gains over the last couple of months – even after today’s adjustment lower the mid-price is still well above levels seen a couple of months ago.
A notable mention for Alien Metals [LON:UFO] who this morning issued a robust drilling report. Expectations had been that a more dramatic bounce in the share price may have followed, but instead the stock spent much of the day struggling to find a way ahead despite elevated levels of interest, reaching the bell some 3% higher.