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Home » UK Shares » AIM Risers and Fallers » AIM round-up: Oilex, Remote Monitored Systems, ITM Power

It’s been another day of gains for London’s AIM index with investors finding confidence in the stand-offish approach of central banks on both sides of the Atlantic. London’s junior market reached the closing bell just over six points ahead at 1237.45.

  • Oilex up 21%
  • Remote Monitored Systems up 17%
  • ITM Power up 8%
  • First Property Group -19%
  • Robinson Plc -16%

Oilex [LON:OEX] topped the board, finding itself some 21% higher by the bell, but there’s no firm news out from the £12m petrochemicals exploration company. A series of new share placings have been seen in recent days off the back of an announcement in April, so the stock is really just recovering some of the losses of the last couple of months. Volumes were certainly elevated, but there’s nothing to see here for now.

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Remote Monitored Systems [LON:RMS] also had a good day, adding 22% off the back of news of a distribution agreement it had signed in India. The deal is for 350,000 of the company’s anti-viral facemasks, but surrounding comments suggest the potential for further deals to be struck with the distribution partner. Shares do however remain well below the highs seen late last year.

A notable mention for ITM Power [LON:ITM], which has been on something of a bumpy ride over the last 12 months, but saw its shares add 8% today. There’s no news out to support the gain, but the close above £4 may offer some respite to longer term investors who saw the shares not far off double that valuation at the start of the year.

At the other end of the board, First Property Group [LON:FPO] slipped 19% to land it bottom place following the release of full year results this morning.  A combination of falling rents and limited rent collection has made for tough trading conditions and as management describe it, a perfect storm. The dividend has been suspended and expectations are that despite having made a series of “interesting investments” it will take some time for the effects here to filter through. The write down in investment value of property is telling.

Robinson Plc [LON:RBN] was also squeezed today, sliding 16% lower by the bell in the wake of an AGM trading statement. The company saw a sharp increase in input prices so despite a sharp uptick in sales, the consequent squeeze on margins means earnings for the first five months of the year are well behind 2020 levels. Management note that materials shortages and price pressures will continue to impact earnings in the months ahead, but in the mid term, more profitable circumstances should arise. Trade was however lumpy and the move was only just outside the spread.

This article is not investment advice. Investors should do their own research or consult a professional advisor.

Tony Cross

Tony Cross

Tony Cross is a market commentator with over 15 years of experience, producing compelling, insightful copy for journalists and investors alike. Focusing on macroeconomics, UK blue chip equities and inter market analysis, Cross's commentary is well regarded for its clarity and ability to cut through the waffle. He has been quoted in publications as diverse as The Financial Times, The Times, The Guardian and The Sun. He has also been a regular guest on both Share Radio and TipTV.

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