Another dull session for the overall performance on London’s junior market saw the AIM Index trade within a narrow range and reach the closing bell slightly lower at 1256.53
- Norman Broadbent +37%
- Holders Technology +25%
- Netscientific +19%
- Itaconix -21%
- Beowulf Mining -12%
Norman Broadbent [LON:NBB] topped the board for the second time in just a few weeks today, adding 37% by 4.30pm. The micro-cap recruiter’s shares have more than doubled in value since March, but the usual caveats of wide spreads and low volumes need to be applied here. Still, one that seems worth watching.
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Holders Technology [LON:HDT] added 25% but this was barely beyond the spread being quoted at the close. The company is again a minnow – £2m market cap – but the move leaves the shares close to multi-year highs. There’s no news to support the jump.
A notable mention for Netscientific [LON:NSCI] who managed to extend yesterday’s gains through Tuesday’s session, finishing up another 19%. Some positive news from another portfolio company appeared to help lock in Monday’s upside, but given the size of Netscientific’s holding here, it seems inevitable that the bulk of the support still comes from yesterday’s big Pharma tie up.
Itaconix [LON:ITX] saw its shares off 21% by the bell despite the publication of a robust trading update this morning. Revenues for the first five months are 39% up on the same period a year ago, but the company also noted concerns over supply chain disruption as lockdowns unwind. It’s worth noting however that the stock has seen 200%+ gains over the last quarter – this seems to have simply been the trigger for some to book profits.
Beowulf Mining [LON:BEM] was the day’s second biggest casualty, shedding 21% after it announced that UNESCO had dropped the company a line over an exploration concession which has been applied for. Beowulf gives no further detail away but media reports suggest the proposals have a significant impact and could therefore be halted.