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The AIM Index put in a solid performance on Thursday, adding more than 1% by the close to finish 12 points higher at 1199.63.

  • Quadrise Fuels up 37%
  • Bonhill Group up 31%
  • Strategic Minerals up 31%
  • Versarien down 24%
  • Eve Sleep down 17%

Quadrise Fuels International [LON:QFI] topped the board today, with the stock adding 37% taking it back to levels not seen since its brief foray higher at the start of the year. The energy company has reached an agreement to trial its MSAR fuel with a shipping company over the next three months. These fuels are apparently cleaner and use residual oils so the performance will be closely watched. Success would have economic and environmental benefits, but sustaining interest in the intervening period may be a challenge.

Media play Bonhill Group [LON:BONH] settled in second place, up 31%, with the stock appearing to be playing catch up after the release of yesterday’s trading update. A bit more granularity from management emerged over the outlook and that seems to have been sufficient to galvanise support for the stock, driving the price close to recent highs as a result.

Versarien [LON:VRS] slipped 24% on Thursday, with the materials specialist disappointing after it published interim results this morning. Revenues fell some 28% with the decline being attributed to COVID but the company’s cash position had improved for the six months to September 30th. There’s an interesting line that the company’s grapheme face mask can be effective in inhibiting viral infections including COVID, along with other promising projects and the stock did have an impressive run higher over Christmas, something which may offer solace to longer term investors.

Eve Sleep [LON:EVE] also failed to impress today, sliding 17% despite the release of a punchy interim trading update. It does however look like a case of buying the rumour, selling the fact, given steady gains by the stock in recent months. The update declared that sales growth was well ahead of expectations and that losses had been trimmed by over 80%. Brexit related slowdowns for the supply chain were seen as a risk factor, but given the impact here has been limited, this probably shouldn’t be too much of a concern.

A notable mention for Strategic Minerals [LON:SML] who also fared well today, with the miner scuttling some 31% higher – all in the afternoon session. Rising metals prices are arguably lending support here, but there’s no solid news out – yet. One to keep an eye on, perhaps?

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Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand 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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