London’s AIM Index has slipped again during Tuesday’s session, shedding around two points but critically failing to find any optimism from dovish tones emerging from the Federal Reserve. At the close the AIM All Share was down just under two points at 713.03.
- Fusion Antibodies +99%
- Synairgen +34%
- Starvest +26%
- Global Petroleum -29%
- Totally -27%
Fusion Antibodies LON:FAB topped the board, advancing 99% on news of a collaboration agreement with the National Cancer Institute – a sub-division of the US federal government – for the use of its OPTIMAL technology in the discovery of novel antibodies. There are no details as to the value of the deal, but the news has more than reversed the losses seen off the back of interim results at the start of the month.
Synairgen LON:SNG added 34% on the day, with concerns over another respiratory outbreak appearing to lend support here. Definitely one to watch given the company’s rise during the COVID outbreak.
Starvest LON:SVE added 26%, taking the notable mention although this was driven by news that the company would indeed be delisting tomorrow. It has been persistently trading at a discount to its NAV and directors have concluded that the best thing to do is a liquidation, returning superior value to shareholders.
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Global Petroleum LON:GBP was the worst performer, off 29% on the day. Board changes announced yesterday gave the stock something of a boost but this is now looking to have been a rather short lived move.
Totally LON:TLY was the second worst performer, off 27%. Interim results released this morning saw key metrics being squeezed and the interim dividend being withheld. Contracts which the company had expected to roll over didn’t progress and the timing of a debtor repayment also skewed the outcomes here. There may be cause for optimism but the stock has taken a beating and given the political risk associated with privatised services for the NHS, the incentives to jump onboard may require some close consideration.
