The dominant sentiment on Wednesday appears to be very much a case of risk-off, with the safe haven lure of the US Dollar winning out and the DXY Dollar Index returning to close on six month highs. At 4.30pm the AIM Index sat just over three points lower at 736.63.
- Infrastructure India +233%
- Mercantile Ports +31%
- Mosman Oil +22%
- Global Invacom -23%
- Physiomics -18%
Infrastructure India [LON:IIP] topped the board, adding 233% on the day. The company advised this afternoon that it had agreed to sell its majority interest in an asset. The deal is worth $10m in cash plus up to 33% of the share capital in the merged company. There is however a significant spread being quoted here and order flow was limited.
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Mercantile Ports [LON:MPL] advanced 31%. This is seen as read across from the beneficial effect of the IIP news above and the notably narrower spread is notable.
Mosman Oil [LON:MSMN] gets the notable mention, up 22% on the day. News of a report being delivered to the Northern Territories government in Australia has been well received by investors, with significantly elevated levels of trade being seen on the day.
Global Invacom [LON:GINV] was at the foot of the board, trading some 23% lower at the bell. A wholly owned subsidiary announced the signing of a multi year contract with Eutelsat. The stock sees limited trade however, so today’s move may simply be a result of insiders liquidating positions following the update.
Physiomics [LON:PYC] slipped 18%, giving back some of the gains posted at the start of the week off the back of hiring news. There’s nothing else here and the 5% spread underlines the bid-offer imbalance.
