After two consecutive up days, London’s AIM All Share index found itself running out of steam again today, reaching the bell almost two points lower at 761.54.
- Global Petroleum +100%
- Cropper (James) +30%
- Redx Pharma +27%
- Cloudified -78%
- Deltic Energy -47%
Global Petroleum LON:GBP added 100% on the day. There’s no news out but today saw a significantly elevated volume of trade in the stock. The spread was out around 15% at the close but given the quantum of the gain, this is unlikely to cause too much concern. The question is whether the upside can be maintained.
Cropper (James) LON:CRPR added 30% off the back of a full year trading statement, with profits now expected to come in slightly above previous forecasts and the mid-term outlook is described as strong.
Redx Pharma LON:REDX gets the notable mention today as it bows out of life on AIM. The company is moving to the JP Jenkins matched bargain venue but the interesting point here is that today’s 27% gain leaves the stock trading at just a 20% discount to the price before the delisting was announced. Historically these moves have been rather more dramatic – does this show a maturing of off market venues?
- AIM Market Roundup: Team Internet, Verici, Poolbeg Pharma
- Cropper partners with Oxford Uni for battery research
- Small Cap Stocks: Premier African, Global Petroleum, Helix Exploration
Cloudified [LON:CHL] was down 78% on the day after the company’s listing was restored this morning following a seven month break. The late filing of results allowed the restoration but the quality of the news left investors with little to cheer.
And Deltic Energy LON:DELT was 47% lower after the company provided an update on a North Sea oil project. There are financing challenges and if not resolved quickly, this could result in the withdrawal from the drilling license – the current fiscal and political uncertainty is doing the sector no favours.
