London’s AIM All Share may have started the week in the red but losses were limited and just a fraction of those seen on major European bourses. The index reached the bell down a shade over one point at 785.06.
- Gfinity +52%
- Caspian Sunrise +40%
- Silver Bullet +33%
- Destiny Pharma -62%
- Vast Resources -31%
Gfinity LON:GFIN was the day’s best performer with the microcap adding 52%. This stock can see little trade for days then vast spikes in interest and today underlines that. No news to be had here and the closing spread was quoted at close on 20%, but total transaction values are limited.
Caspian Sunrise LON:CASP was in second place, up 40%. The company’s stock was reinstated on the market today, having been suspended at the start of the month following failure to complete accounts. With operating profits up by 20% and a strong outlook, investors have been quick to back the stock, elevating it to levels not seen in over a year.
Destiny Pharma LON:DEST slipped 62% today after announcing its plans to delist. This is becoming an increasingly common play amongst businesses and whilst the initial reaction is typically a marked down leg, there’s certainly evidence that some investors are willing to buy into the future potential of a privately held business. One to watch.
Vast Resources LON:VAST was in second to last place, down 31% off the back of placing news. The sell-off reflects the discounted price of the new offering with the £600k raised being used to cover reorganisation in a bid to lower production costs and also provide interim financing.
Silver Bullet LON:SBDS gets the notable mention, up 33% after announcing contract wins and news that it had secured a new working capital facility.
