London’s AIM All Share index jumped higher at the open on Thursday and managed to sustain gains through to our earlier than usual filing time of 3pm. Those earlier concerns that Wall Street may be the subject of selling failing to materialise in early US trade is also likely lending support.
- Vela Technologies +36%
- Caspian Sunrise +27%
- Versarien +10%
- Nostra Terra Oil & Gas -37%
- Quiz -23%
Vela Technologies LON:VELA was topping the board just before 3pm, with the stock trading 36% higher. Volumes have been limited but we have seen a couple of notifiable transactions on both sides of the deal taking place this week.
Caspian Sunrise LON:CASP was 27% higher in second place at copy time, with the stock advancing mid-session off the back of news that the company had entered into a sale and purchase agreement for a resource with a cash consideration of $88m, $14m of which has already been paid.
- Small Cap Stocks: Gfinity, Caspian Sunrise, Destiny Pharma
- SmallCap Stocks: Gfinity, Caspian Sunrise, MPAC
Versarien LON:VRS gets the notable mention, up 10% on the day. There was some news today but the detail was limited, reflecting a scheduling update over a legal claim. The limited trade we have seen has been choppy and the spread is around the day’s gains so far, too.
- Small Cap Stocks: Cloudcoco, Feedback, Versarien
- Three Quick Facts: Wetherspoon, Virgin Wines, Versarien
Nostra Terra Oil & Gas LON:NTOG was 37% down after news of a funding round was announced. The discount here reflects the price at which new stock was offered, with the subscription being supported by management and existing investors. Proceeds will be used to accelerate a workover phase to deliver new wells and increase production.
- Small Cap Stocks: Creo Medical, Nostra Terra, Proton Motor Power
- Small Cap Stocks: UK Oil & Gas, Renalytix, Nostra Terra
Fashion brand Quiz LON:QUIZ is in second to last place, down 23% on the day. The stock has had a volatile ride of late but today’s sell-off is looking notably abrupt. That said, the decline is within the spread so this could see some normalisation after the close.
