At 3.30pm, London’s AIM Index had managed to nudge its way back into positive territory
although was sitting less than one point up on the day at 822.79.
- Kropz +124%
- I(X) Net Zero +28%
- Maintel +21%
- CT Automotive -20%
- Tower Resources -16%
At our slightly earlier 3.30pm copy time, Kropz LON:KRPZ was well ahead of the pack, having added 124% on the day so far. Shares are actually off session highs but have been progressing since the release of a sales update earlier in the week, underlining the scale-up situation of the Elandsfontein plant.
I(X) Net Zero LON:IX. added 28%. There’s no news out today but late on Wednesday the market was advised of a series of buy orders by directors. Transaction volumes were however limited and the 8% quoted spread needs to be considered here, too. Shares are however up by around 50% from the start of the week.
Maintel LON:MAI gets the notable mention, having advanced by 21%m in the wake of full year results published this morning. Headline figures were broadly lower but an increase in the proportion of income derived from recurring revenues and optimism that brighter times lie ahead has bolstered the market outlook.
CT Automotive LON:CTA was the biggest faller, although by 3.30pm declines were still limited to just 20%. That came off the back of a discounted fundraise but with shares currently at 40p whilst the new issuance went at 34p, there’s seemingly something to cheer here.
Tower Resources LON:TRP slipped 16% off the back of its update this morning. Arguably the key point – an extension of the initial exploration period – still remains in the application phase and this appears to have been taken as a negative by a number of investors.
