UK equities are looking to be something of a stand out on Tuesday as better than expected government borrowing data has provided the local market with something to cheer, outperforming European and US peers. At 4.30pm the AIM index was up by more than three points at 739.01.
- Ethernity Networks +24%
- Brave Bison +20%
- ECR Minerals +18%
- Vast Resources -23%
- Great Western Mining -17%
Ethernity Networks LON:ENET topped the board, adding 24% on the day. The selling down of a significant stake was advised after the market close last night but this appears to have driven renewed interest in the stock. There’s no news to support the move higher but is a further statement imminent?
Brave Bison LON:BBSN added 20% on the day following a full year trading update. Net revenues added 23% whilst adjusted EBITDA is up by 43%, both metrics being ahead of market expectations. A slew of big name clients have been added to the roster in the last 12 months, too.
ECR Minerals LON:ECR gets the notable mention, up 18% on the day in the wake of news of boardroom changes that has freed up management time to be focused on commercial operations. The note also pointed out the scale of the opportunities that sit infront of the company in Australia. With investor optimism renewed, can the stock now look to recover some of the lost ground of recet years?
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Vast Resources LON:VAST was at the foot of the board, down some 23% on the day. That came off the back of placing news, with the share price slump reflecting the discount of the new issuance.
Great Western Mining LON:GWMO also struggled, falling 17% on the day. The stock had been finding support since the start of the year with a series of upbeat announcements but today’s amicable novation of a now lapsed contract appears to have fallen short with some investors. It’s worth noting that the closing spread was quoted at 20% and volumes have been far from remarkable so this may wash out, but the move is notable nonetheless.
