London’s AIM Index has had a disappointing start to the week, underperforming both the main board and major US indices to finish just over two points lower at 814.69.
- Celsius Resources +33%
- Nanosynth +24%
- Advanced Oncotherapy +23%
- Orcadian Energy -20%
- Reabold Resources -17%
Celsius Resources [LON:CLA] added 33% by the bell, finishing at the top of the table after it announced that terms had been agreed for the business to be acquired by Silvercorp Metals TSX:SVM in a shares and cash deal.
Nanosynth LON:NNN advanced 24%. There’s no news here however and order flow has been limited, with the gains largely eaten up by the spread.
Advanced Oncotherapy LON:AVO added 23% off the back of funding news and word that the repayment date on a loan from Credit Suisse has been pushed back to later in the year.
Orcadian Energy LON:ORCA slipped 20% on the day, finding itself at the foot of the table after the company advised that the North Sea Transition Authority had declined a request to extend a license which expired at the weekend. The note also served to remind the market that the company needs to raise short term funding in order to repay a loan from Shell.
- Small Cap Stocks: Surface Transforms, Orcadian Energy, Tan Delta
- Small Cap Stocks: UK Oil & Gas, Jaywing, Orcadian Energy, Hermes Pacific
Reabold Resources LON:RBD dipped 17% by 4.30pm, with noticeably higher volumes being reported. There’s no meaningful news out, but the stock continues to plot a course lower, testing lows not seen since the end of 2021 as a result.