Upbeat corporate earnings and signs of an easing of US inflationary pressures made for a good day for stocks, lifting the AIM Index 12 points by the close to sit at 1224.14
- Real Good Food +55%
- Marechale Capital +27%
- Oracle Power +27%
- Origo Partners -16%
- Strategic Minerals -11%
Shares in Real Good Food [LON:RGD] jumped sharply higher today, reaching the bell some 55% higher. Transactions on the day look rather limited and the spread is wide in this stock which is up for a vote over delisting next week. There are signs of stake building in the business by a former minority owner but no indication as to whether this is ahead of a bid to keep the company in public ownership.
Marechale Capital [LON:MAC] added 27%, finding itself in second spot by the bell. The company’s share price reacted will to news that all AGM resolutions had been passed, in what could be seen as a relief rally given the stake building noted by some investors in recent weeks.
A notable mention for Oracle Power [LON:ORCP] which also had a good day, tacking on 27% by the bell. The company had some positive drilling news out on Tuesday but this failed to garner much support at the time. Buyers did however start to move in yesterday and the shares have been finding favour since.
Origo Partners [LON:OPP] is the day’s laggard, although this is something of an outlier. Losses are 16% but the sub-£1m stock is being quoted on a spread in excess of 50%. There’s really not much to see here.
Strategic Minerals [LON:SML] slipped 11% today, although again the move appears to have been driven more by price posturing rather than anything fundamental. Elevated levels of trading have been seen and there’s another nearby miner coming to market. Could the volatility be driven by capital reallocation?