London’s AIM All Share Index finally found some support on Wednesday with the junior market adding three and a half points by 4pm to sit at 738.38.
- Immupharma +35%
- Challenger Energy +32%
- Bens Creek +23%
- Renalytix -13%
- Provexis -12%
Immupharma LON:IMM was topping the board heading toward the close with gains of 35%. That is however significantly down from levels seen earlier in the session, with the feel good stemming from an upbeat business update that assured investors as well as product development being on track, the company was adequately capitalised too. The gains however made only a modest impact against the losses accrued in recent weeks.
Challenger Energy LON:CEG is faring well again, up 32% at 4pm off the back of news that a farm out agreement had been reached with Chevron. The deal is worth $12.5m and proceeds will be used to fund future developments of the business.
Bens Creek LON:BEN gets the notable mention, up 23% heading into the close. The company announced a restructured loan agreement today which removes a potential cliff edge from January 2025 but sees it paying interest at a punchy rate of 13%-16%. Regardless, investors appear supportive to this latest line of good news.
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Renalytix LON:RENX was down 13% at copy time as enthusiasm continued to ebb off the back of Monday’s news of a prospective acquisition. That premium has now been almost completely eroded, but with the offer still presumably in play, is the sell-off justified?
Provexis LON:PXS also struggled, down 12%. However trade was lumpy and the move sits within the spread. There’s no official news here.
