London’s AIM Index resumed its downward trend on Tuesday, shedding a further twelve points to close at 1154.20.
- Sanderson Design Group +22%
- Victoria Oil & Gas +20%
- Braveheart Investments +17%
- Reneuron Group -44%
- Ncondezi Energy -34%
Sanderson Design Group LON:SDG was the day’s performer, adding 22% off the back of an upbeat trading update. Revenues are set to come in slightly ahead of board expectations, but margins are tipped to improve significantly, as a result of operational gearing. As a result, full year profits for the year to end of January are tipped to come in no lower than £12m, up from the £7.1m posted a year earlier.
Victoria Oil & Gas LON:VOG also put in a good session, adding 20% on the day in lumpy trade. However, a closing spread of over 7% was also printed, suggesting that the one-way trade may be dominating. In the absence of any fresh news tomorrow, will the gains hold?
A notable mention for Braveheart Investments LON:BRH, which added 17% today. The company’s share price has been under pressure since the start of the year, so today’s rebound could illustrate some bargain hunting but again there’s a wide spread on the stock suggesting some supply/demand imbalance may be evident.
Reneuron Group LON:RENE was the worst performer of the day, off 44% at the bell. A strategic update this morning has seen the company decide to more tightly focus resource off the back of some less than impressive clinical results, serving a significant blow to the company’s share price which now sits at levels last seen before the stock consolidation four years ago.
Ncondezi Energy LON:NCCL is on the list again today, falling 34% as investors continue to digest yesterday’s project update. There’s a meaningfully wide spread here although the market cap has now dwindled to just a couple of million. Some clarity over future funding plans is desperately needed, but given environmental pressures, this might not be all that well received.
