The AIM All Share index has found renewed gains on Wednesday, adding just over two points by 3.30pm as investors look to the Bank of England’s rate call tomorrow, even if a shift in policy this time around feels premature. At copy time the index stood at 778.4.
- Mobile Tornado +205%
- Petrel Resources +64%
- Maxcyte +33%
- Helix Exploration -18%
- Phoenix Copper -17%
Mobile Tornado LON:MBT continued to top the board although gains have moderated somewhat following this morning’s whirlwind. News of a contract win in the Middle East – secured off the back of latency and data metrics – cheered investors, although with no further details over the size of the potential award it’s difficult to try and define the upside here. Shares were up 205% at copy time.
Petrel Resources LON:PET was in second place, some 64% ahead at the time of writing. There’s no news out here but momentum is certainly building and volumes are significantly elevated – even if a 10% spread is being quoted as a result of the buying demand.
- Small Cap Stocks: Genedrive, Tern, Conroy Gold
- Small Cap Stocks: Energypathways, Global Petroleum, RBG
- Small Cap Stocks: Strategic Minerals, Clean Power Hydrogen, Deltic Energy
Helix Corporation [LON:HEX] was 18% lower on the day, reversing the gains we saw posted on Tuesday. After such a stellar debut on the market, this was arguably little more than some opportunistic profit taking.
Phoenix Copper LON:PXC was 17% lower at copy time with the market failing to buy into yesterday’s note providing an update on reserves. Brokers have also been supportive of the outlook for the company at a time of rising metal prices but the gains from late April are proving tough to sustain.
Maxcyte LON:MXCT gets the notable mention, adding 33% on the day. Q1 results were published this morning and received a tepid response in London but the stock is dual listed on Nasdaq. The US open saw buyers sweep in with gains taking the stock to three month highs.
