The day may have started with a degree of turmoil for equity markets and the junior market has lagged its blue chip counterpart in London, but given the doom-mongering seen ahead of the open, the fact the AIM Index has ended less than seven points offside at 797.39 is to be applauded.
- Caledonia Mining +16%
- Hummingbird +11%
- Ten Lifestyle Group +6%
- Tribal Group -24%
- Serinus Energy -18%
Caledonia Mining [LON:CMCL] topped the board, adding 16% during Monday’s session. That’s obviously a modest move and there’s no company specific news out to support this although volumes were certainly elevated. Gold producers in general are finding upside off the fact that the underlying price topped $2000 for the first time in more than a year in early trade.
Hummingbird LON:HUM sat 11% higher at the bell. Again no specific news here and volumes were in line with normal observations, but again as a gold explorer the company is enjoying that broader sector-wide support.
Ten Lifestyle LON:TENG gets the notable mention having issued a H1 trading update this morning. Gains are a very modest 6% but the company reported strong membership growth and also noted that it expects to report 49% revenue growth YoY against the comparative.
- Hummingbird Resources starting to dig itself out of a hole
- Small Cap Stocks: Tower Resources, Serinus Energy, Surface Transforms
- Small Cap Stocks: UK Oil & Gas, Destiny Pharma, Tower Resources
Tribal Group LON:TRB slipped 24% after updating the market this morning. The company is locked in a contract dispute with a Singaporean university and has delayed the publication of full year results until the end of the week, allowing it to consider the treatment of the contract issue.
Serinus Energy LON:SENX was off 18% at the bell, having published its annual results this morning. Revenues are up around 25% but net income is sharply lower. That said, there is $4.9m in the bank, but falling production rates from the company are likely cause for concern, especially as underlying oil prices tank.
