Those inflationary fears rattled equities on Tuesday, with London’s AIM index underperforming the main board to reach the bell twelve and a half points lower at 1255.72, just a shade above the closing low from September 20th.
- Pantheon Resources +20%
- ValiRx +18%
- NAHL -17%
- Eden Research -13%
- MyHealthChecked +12%
Pantheon Resources [LON:PANR] topped the board, adding 20% on a frantic day of trade for the company. Rising oil prices are cheering the stock, which now sits at levels not seen in four and a half years so this combined with speculation that the reserves the company is sitting on may be far larger than first thought makes for a compelling proposition.
ValiRx [LON:VAL] was the day’s second biggest riser by the bell. Gains of 18% have been delivered off the back of an investor presentation which appeared to bolster confidence that at least one deal will fall into place soon.
A notable mention for MyHealthChecked [LON:MHC] whose shares added 12% today. The company found its stock under pressure earlier this month as government unwinding of some travel testing took a toll. Today’s gains are marred by thin volumes and a wide spread, but tomorrow should see the release of a Q3 trading update which ought to reinforce that at least the last few months have been profitable for the business.
NAHL [LON:NAH] was the day’s biggest faller, reversing some 17% off the back of this morning’s interim results. That fall comes despite only a very modest decline in revenues and profits as a result of reduced activity as a result of COVID lockdowns. However it’s the profit downgrade for the full year – the number will be below what was achieved in 2020 – which is really damping spirits here.
Eden Research [LON:EDEN] also struggled, slipping 13% off the back of its half year report. Although the company notes a slow return towards normality, it adds that stakeholders across agriculture at all levels have been impacted and this will take some years to recover, damping demand. There is some potentially exciting news in the pipe with hopes that US regulators will approve products ahead of the 2022 growing season, but failure for this to materialise will obviously risk knocking sentiment further.