After a tightly rangebound day, London’s AIM Index managed to scrape another positive close, but only by the narrowest margin, finishing at 792.59.
- Drumz +17%
- Online Blockchain +16%
- Music Magpie +15%
- IOG -42%
- Orcadian -31%
Drumz [LON:DRUM topped the board, adding 17% on the day. The company this morning confirmed that it would be adopting the name of its Acuity subsidiary, a business unit which focuses on cyber security and is tipped for fast growth in the future.
Online Blockchain LON:OBC was in second place, up 16%. There’s no fresh news out however and trade has been both lumpy and somewhat one sided. This is however pulling the stock away from YTD lows and could there be news incoming?
Music Magpie LON:MMAG gets the notable mention, up 15% on the day. There’s no news out but this could simply be bargain hunters moving in after the stock tested seven month lows yesterday.
IOG LON:IOG was the biggest faller, down 42% off the back of a corporate update this morning. The lack of clarity over forward gas prices is causing some concern at a management level with bond covenants likely to be breached when next tested at the end of the month.
- Small Cap Stocks: Surface Transforms, Orcadian Energy, Tan Delta
- Small Cap Stocks: musicMagpie, Emmerson, Arkle Resources
- Three Quick Facts: JD Sports, AO World, Shepherd Neame
Orcadian LON:ORCA slipped 31% by the bell, although trade in the stock was once again limited and at the close it was being quoted with a hulking 75% spread. There’s not much to note in the company which now has a £2m market cap and a £1m loan due for repayment in August. Financing conversations were reported as ongoing in interim results released earlier this year.
