London’s AIM Index lost a little more ground on Tuesday, although recovered from earlier lows to reach the bell less than four points offside at 1205.15.
- Samuel Heath and Sons +28%
- Hardide +15%
- Marwyn Acquisition -17%
- Greatland Gold -16%
- and a notable mention for ITM Power +10%
Samuel Heath and Sons LON:HSM is up 28%, topping the board, although there’s nothing behind the move in this very thinly traded, £12m market cap stock. The spread accounts for the bulk of the gains, too.
A year end trading update from Hardide LON:HDD saw the company herald a strong performance across all of its key markets in the second half of the year, as it emerges from the worst of the COVID-19 pandemic. Further improvements are being expected in the coming financial year and this has helped the share price advance 15% on the day.
A notable mention for ITM Power LON:ITM whose shares added 10% today. There’s nothing specific behind the news but green energy stocks are finding favour once again and the company is being carried along on that tide. The current energy situation is perhaps providing the focus the environmental lobby have been seeking to deliver for decades but could the question over energy security be the tipping point for the country – and many of our neighbours – to clean up their act?
Marwyn Acquisition LON:MACP is the day’s worst performer, off some 17% at 4.30pm. There is however no news here and one-sided trade has skewed the price in the £10m company, with the closing spread being quoted in excess of 7%, too.
Greatland Gold LON:GGP has had something of a difficult day, with the stock sliding 16% despite the release of a positive feasibility update this morning. The stock posted significant gains last week off the back of news that the update was coming, so that mantra about “buy the rumour, sell the fact” seems appropriate and will some now see an opportunity for bargain hunting?
