Despite some hopes that the Fed may look to cut rates as soon as July, optimism is looking thin on the ground for equity markets globally and the AIM All Share is no exception, losing its grip on the 800 level for the first time in more than two weeks, finishing down almost 7 points at 798.58.
- Eurasia Mining +61%
- Vast Resources +36%
- Tasty +16%
- Alien Metals -34%
- Faron Pharmaceuticals -22%
Eurasia Mining LON:EUA topped the board, standing some 61% ahead at the bell. There’s no news being reported but volumes were looking significantly higher than even what would be considered a busy day normally. Much of the upside was also delivered in the final hour of trade.
Vast Resources LON:VAST added 36% following a production report which was issued this morning, which also included highlights of cost saving measures which have been undertaken along with some significant upticks in the rates of gold production.
- Three Quick Facts: Tasty, STM, SEEEN
- Small Cap Stocks: Orosur Mining, Ethernity Networks, Coro Energy
- Small Cap Stocks: Indus Gas, VAST Resources, Beximco
Alien Metals LON:UFO was the biggest faller, off 34% having announced the completion of a discounted fundraise. The move reflects the price at which new shares have been issued.
Faron Pharmaceuticals LON:FARN also struggled as it initiated a funding round. Shares were recorded as trading down 22% at the close although the move is closer to 45% down from Monday’s levels. Shares still trade fractionally above the new issuance price suggesting that investor confidence remains supportive but management are clear that the fruits of current labours are still some months away.
Tasty LON:TAST gets the notable mention, up 16%. A restructuring plan has been sanctioned by the courts, a move which management expect can deliver an improvement in EBITDA of £2.1m between FY23 and FY25, reversing the current loss making situation into a profit.
