4.30pm
Following a slow start, London’s AIM market reached the bell up three points during Thursday’s session, finishing the day at 1241.37. Here are the top risers and fallers at the close.
- Quantum Blockchain LON:QBT +48%
- Valirx LON:VAL +15%
- Tekmar LON:TGP -16%
- Proton Motor Power Systems LON:PPS -13%
12.30pm
Another busy day of meetings, so I’ve taken a midday cut on the AIM market today. We’d be really keen to hear any feedback as to whether you prefer getting this update whilst the market is still open.
The AIM Index started the day well into negative territory in line with other markets worldwide as the Evergrande saga continues to weigh. However, some support has been forthcoming during the morning with the index briefly testing positive territory. At 12.05pm the index was down less than one point at 1237.43
Quantum Blockchain LON:QBT is sitting at the top of the board at midday, up some 21%. The crypto space is enjoying another swathe of broad support right now with bitcoin repeatedly testing fresh all-time highs off the back of that US ETF launch. That puts the coin one step closer to legitimacy and with UK investors unable to buy the underlying asset via a regulated entity, these support stocks are seen as an easy way to get exposure to the asset.
System1 LON:SYS1 continues to find favour with investors in the wake of yesterday’s trading update. Headline figures are pointing higher and the company is growing its exposure to sales of automated data products. Shares are up 18% on the day, extending yesterday’s 10% rally and now sit at levels not seen in four years.
A notable mention for Online Blockchain LON:OBC. As with peers, the stock is being buoyed by those positive messages surrounding digital assets in general, leaving the price up some 11% at 12pm.
Tekmar LON:TGP has been the worst performer this morning, falling some 14% off the back of a trading update. Despite this having an upbeat tone in terms of the outlook, investors appear focused on supply chain issues and the fact this is expected to return a £1.2m loss for the 18 months to 30th September. Traded volumes have also been abnormally high.
Catenae Innovation LON:CTEA also struggled today, shedding 13% by noon. There’s no news here to support the move, which also sits within the currently quoted spread.
