London’s AIM All Share index has had an upbeat start to the shortened trading week, advancing more than four points by 4pm, although gains have been comprehensively eclipsed by the main board with optimism over rate cuts being seen as a key driver.
- Helix Exploration +23%
- Totally +19%
- Pipehawk +15%
- Scirocco Energy -31%
- R&Q Insurance -22%
Helix Exploration [LON:HEX] was leading the pack heading into the close. The company IPO’d just around a month ago and has been finding support since, with today’s gains coming close to doubling the valuation since float.
Totally LON:TLY was 19% higher in the wake of a trading update this morning. Whilst revenues were down year on year, cash reserves are building and the business is also delivering cost savings.
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Scirocco Energy LON:SCIR was 31% down at copy time, coming off the back of a General Meeting which saw shareholders vote significantly in favour of the company being delisted.
R&Q Insurance LON:RQIH was in second to last place just ahead of the bell, down 22%. However there has been limited trade and the move is well within the spread being quoted late afternoon. There’s no fresh news out but the company is in the midst of a restructuring. The question now is whether these plans are starting to sour…
Pipehawk LON:PIP gets the notable mention, adding 15% on the day. Stake building by an existing investor is buoying sentiment here.
