London’s AIM Index slipped again today, although the slide was in line with wider market sell offs, reaching the bell almost three points lower at 670.90.
- Ethernity Networks +134%
- Cornish Metals +16%
- Capital Metals +13%
- Safestyle -79%
- Argentex -20%
Ethernity Networks LON:ENET has topped the board again, up 134% on the day and with gains over the last week now somewhere in excess of 700%. The stock has now recovered the last five months’ worth of losses, bolstered today by news that the CEO has staked a further £200k in the business in the form of an interest free loan.
Cornish Metals [LON:CUSN] is in second place, up 16% following a technical update on mine operations. The company has commenced “de watering” of a mine and although the process of pumping water out will take some 18 months to complete, this is still seen as an important landmark.
Capital Metals LON:CMET gets the notable mention, up 13% and recovering yesterday’s losses as a result. There’s no fresh news out here, but it would seem as if bargain hunters were creeping in after yesterday’s move lower.
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Double glazing play Safestyle LON:SFE was at the foot of the board, off 79% following the publication of a process update. The company has no expectation of receiving a capital injection to help refinance and is now instead looking at the prospect of a trade sale, cautioning that even if this does complete there is no certainty as to how much shareholders will receive.
Argentex LON:AGFX was in second to last place at the bell, down 20%. This morning the company advised that the CEO – one of the founders – had left with immediate effect and no ceremony. That’s news that would typically rattle sentiment, so the fact that the downside has been relatively limited is notable.
